The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-10-11
The Gospel of Confidence
(WaShinrton Starr

HE~ (WaS0l0RCOn STAR
If anybody expected President Hoover before the bank
ers at Cleveland last night to deal in concrete prophecy
about the business situation, disappointment is the result.
OF prediction. He confined himself to generalities con-
corning the severe shock" and Differentiation in our
economic system. which have temporarily checked the
march Of prosperity" But he did not fail to preach TO
the masters Of the nations finance a healthy and hope
full gospel Of confidence. He adjured them that in their
ers and friends. there rests upon them in a peculiar sense
the duty Of maintaining that morale without which bust
ness recovery cannot be accelerated.
Perhaps the president calculated that to dogmatise
the bankers OF the country about the economic outlook
would be akin to carrying Goals to Newcastle. One Of
their own shining lights. Col. Leonard r. Ayres Of Cleve-
end Of 1881 might reasonably be fixed as the date when
"StAtSticianS' normal" l. e., the mean between the peak
be at hand.
At several points of his Thoughtful, If cautious, remarks.
MI. Hoover stressed the ephemeral character Of Amer
icas commercial and industrial plight. We have SUR
vved q thousand temporary setbacks." he asserts. "Tem-
porary" u. OF course. a relative term. Hitherto our
economic recessions have run an average course Of IL
well founded. business viii have been in the red" so
to speak. for more than twice as long q period.
Yet-and herein lies the kernel Of President Hoovers
Cleveland speech-there is nothing in even so protracted
. spell Of bad times to dishearten, discourage or de-
moralixe our people. It cannot sap or undermine the
fundamentals upon which American national wealth and
prosperity rest. These remain, unimpaired, as MI. Hoover
usefully points out. That they will, as in the past, prove
to be the foundation Of revived welfare cannot be
UOuOVeu. 4u0 pTeSloent CounSeIS the country to take
heart from its history. In the homely vernacular, he says
to US that We may be down. but we are far from being
out.
BY their unstinted applause Of these steadying senti-
meuts. the bankers converted them into the keynotes Of
Mr.. Hoover's address. They approved his affirmation
that this IS no time for surrender" They acquiesced
In the declaration that 1.-The spirit Of this people viii.
never brook defeat" Between the lines Of his speech
runs the plain hint that to put its house In order is
rather the task Of American business itself. The gov
ernment can only cooperate in that process, as it has
sgnally done during the past year and q hall.
It Is well that Mr.. Hoover chose, in preference to
prophecy. to emphasize his 'undaunted faith In those
resources and Qualities which have driven US ever for,
ward" The American people need to regain confidence
In their own boundless strength. No surer remedy for
the economic blues is available. The inexhaustble foun-
tains Of ~wen-being are stu with us. carrying their Ger
tain guarantee Of q solid future for q virile people of
l2oy000yO00 souls. No less proper than the presidents
reminder on this score Is his exposition Of the fact that
the 1s29-So depression is world wide, s~pringing from
causes far beyond our own power to control. Fl
"The need Of today" Mr.. Hoover observed In his
Fp~eroration ct Cleveland, sis continued unity of effort
and establishment OF safeguards for the future" II
American business takes that admonition to heart, its
existing trials and tribulations will turn out to have been
blessings In disguise. =