Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-05-24

Solid basis for the present-day opti-
nlism Of the average American citizen Is
found by the press in the glowing ON
cial account Of conditions and prospects
of business and industry given in the
report of the committee on recent
economic changes. This committee, OF
which President Hoover served as chair
man before he became President. made
an exhaustive study OF developments
during the period from 1921 to 1929.
The investigators found all general
conditions favorable to economic well
fare" records the Asheville Times. "1f,
In the several years past, Americans
have enjoyed material wellbeing 'splen-
did beyond all human experience the
committee is persuaded. nevertheless,
that we have but just touched the fringe
of our potentialities in this respect. There
is Unsuitable demand for commodities.
When want has been satisfied to COM
pletion, another makes Its appearance.
We have both the machinery for vast
production and the capital for its ad-
vertisement and distribution. Even
periodic unemployment, which is often
serious, considering the general high
state Of prosperity, the committee does
not take very Seriously-perhaps too
lightly"
Accepting the conclusion from the
existence of the unlimited demand that
there Is assurance Of "a continuous ad-
vance of living standards for the ma
jority of the Nations population" the
st. Louis Times quotes the statement
that I'VE seem only to have touched
the fringe Of our possibilities" and con-
tinues: "All of this is cheering and
should build a freShened national con-
f1dence in the future Of industry and
frada and still ironroyAd andardR Of
living. There are no pyrotechnics in
the report. 1t is formal document,
compiled by economists of reflection,
and its influence among thinking folk
necessarily will be material"
"A most encouraging prediction" in
the judgment of the Albany Evening
News. which states that at is not mere
ly an optimistic forecast" but is "a
study of conditions made by some Of
the most eminent economic experts in
the country" The Albany daily, how
ever, concludes: I'VE are prospecting,
we shall prosper more, but the economic
structure can be maintained only by
hard persistent and intelligent effort,
by mutual confidence and by the sew
eral human parts working In harmony
together Therein is message to
American business"
IF any one has any doubts about the
economic solidity of the United States. "
says the San Francisco Chronicle. I'VE
advise them to read this report. 1t will
put out of his head any notions about
selling this country short. 1t contains
a magic wand of power instantly to
transform bears into bulls. The
problem now is to smooth out the bad
spots and make all parts of the coun-
try and all kinds of producers-the
farmer as well as the plumber, the cot
ton weaver as well as the rayon polisher
-sharers in a prosperity that is GER
tainly large enough for all To keep
it going this country has only to keep
in balance and work in harmony. 1t
is a prosperity that We can upset only
by going foolish"
On the point Of general application
the st. Paul Pioneer Press remarks:
The optimism of this report makes
pleasant reading. Some farmers. paus-
ing over its glowing terms, may be puz-
Zled to understand their meaning for
themselves and come to fear that In
its generalization of past and future
the committee has dipped its pen too
exclusively in the industrial inkwell
Such dissidents must take consolation
in the lofty and all-embracing perora-
ton: Our situation is fortunate. our
momentum Is remarkable. Yet the or
ganic balance Of our economic structure
can be maintained only by hard, per-
sistent. intelligent effort; by considera-
ton and sympathy; by mutual conf
dence and by a disposition In the sew
eral human parts to work in harmony
together II this means a genuine So
luton of the farm problem, perhaps all
elements can subscribe TO the report"
The DEMAND for informed leader