Milford chronicle., 1929-08-30
NATIONAL NEWS OF INTEREST
TO EVERYBODY WHO READS
Written for this Paper by
FRANK P. LITSCHERIT

A few months ago there were ru-
mors making the rounds in certain
quarters that Americas period of
prosperity was over. Business was
on the down grade it was whispered,
the stock market was in the dol
drums, and it wouldn't be long until
millions of workmen would be walk
ing the streets again. Evidently
something has changed the trend of
thought. The rumors have vanished.
We near them no more. Everybody is
looking to the future with increas-
ing confidence. Labor is employed,
business is good and prosperity, it
seems, has decided to remain with us
indefinitely. Of course the situation
was never as serious as the pessi-
mists would have mad us believe.
All latest reports are to the effect
that the total business for the year
1929 in the United States will be
greater than in the year 1923. And
in 1928 it will be remembered we
recovered nicely from slight re-
cession that was noted during the
closing month of 1927. Not only is
business good and labor gainfulIy
employed, so that our great home
market is maintained, but our ex-
ports are growing too. There is ev-
cry indication that Europe, too. is on !
the upgrade, and that our markets /
across the seas will continue to |
grow better as the months pass.
During the past few years it has
been the great agricultural element
in the United States which has suf-
fered most from depression. But i
there are indications that here, too,
there is general Improvement. Con-
gress during the recent special ses-
sion gave us some constructive 1egis-
lation. Crop prospects are fairly
good, grain and live stock prices are
satisfactory, and will be made bet
ter with the passage of the Hawley
tariff bill. In commenting on the
present agricultural outlook, Mr.. A.
B. Genung, agricultural economist,
writes in the Farm Journal:
"Bit by bit, agriculture is getting
away for generation Of prosperity. .
The establishment of the federal
Farm Board with it's cooperative
assistance, and the assur- l
ance of increased protection of the
domestic market by the governments
.ariff policy, are important consid-
erations, but only two of the factors L
which should start a bull market in
arm lands and activities in the near J
uture. Other influences at work to y
improve the farmers status, which T
ire often overlooked by those who y
lave become accustomed to agri- :
cultural pessimism, include the re- ]
,ent drift of surplus farm popula- n
ion to the cities, plus the growth of l
'ity population by immigration,
which assures an increase in profits
,er worker for those who remain on e
he farm" :,
So there is reason to believe that =
griculture has gone through the t.
worst of its depression and is now K
N the upgrade. This will help the p
ntire country, of course, and will
ontinue to accelerate our progress
long the high road of constructive =
The United States has !
cen more that fortunate during the
ast decade in that we were able to Y
ecover from the effects of the war s.
lore rapidly than any other nation.
his was partly due, of course, to
be sound and constructive policies
yhich have been in force at Wash
1gton in the meantime, and which
rill continue to be in force indef1-
itely. While other nations were
uarreling over postwar politics and cs
ost-war economics, the United
tates wisely set out to put it's house c,
l order and did so. We passed up bi
II participation in the quarrels of
urope and by legislation and ad- n,
Illustration sought to build the w
and well being of our 10
wn people. That we have succeed u
is evidenced by the statistics. So
say that we have been lucky tells 10
1ly half the story. We have been Ia
)und and sensible in the selection gr
I'D carrying out of our national and
ternational policies. ftC