Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-19

Y
business progress, in the sense of sales,
has not shown the increase in many
industries that was expected, in view
of the previous records from year to
year, the fact remains that the indus
trial structure of the country Is sound
How soon we will emerge from the
present slump is hard to say. But
emerge we will.
Business men of long experience can
look back on the periods of derres-
sion, in 1908, 1907, 1914 and 1921, and
realize that in each case the country
went on to greater prosperity once
business actually struck its stride
again I believe that history will re-
peat itself and that we have coming
another era of better times-better
than ever before.
have been through other times as
bad or worse than those we have been
experiencing during the last year and
while I would hesitate to predict just
when we win have a decided turn for
the better am confident that increased
prosperity Is on the way. Certain re-
ports already show signs that are en-
couraging to many business leaders.
Aftermath Of OverprOductiOn.
We have been suffering from the
aftermath of overproduction and gen.
orally unfavorable business conditions
all over the world. Now that inven-
tories have, in many cases, been greatly
reduced, there should be q pickup in
sales sooner or later. Once 1t comes,
business in general will be stimulated.
There is a disposition among many
persons to look too much on the gloomy
side, with the result that many whose
incomes have not been reduced have
1nl
necessities, to say nothing Of the So
called luxuries. This tends to restrict
consumption with corresponding drop
in sales in certain industries.
Their mental outlook will likely un-
dergo a change when the signs of COM
ing improvement are evident to all.
When everything Is said and done, the
American people will not lower their
standard of living. They have become
accustomed to such service and COM
forts that they will be unwilling to
return to a lower standard.
The condition of Americans is being
constantly improved regardless Of tenn
porary industrial set-backs. Every time
the standard of living is bettered the
people of this country reap q direct
benefit. Instead of any lowering in the
standards of living, am confident that
there win be constant and a healthy
growth In this respect. New reserves
of capital are built up In such times
as these and a sound structure is being
created for the prosperity that Is most
certain to come.
Money is cheaper now than it has
been in a long time There is an abund-
ance of it available for the real estate
mortgage market. Now mortgage money
is seeking field for sound investment
instead of being so much sought after
by would-be borrowers as was the case
during the high prosperity period OF
1929.
Real Estate Trend.
This may be helpful in bringing the
real estate market out Of the slump that
hit 1t in many places. Generally the
trend in this field follows the course of
the security market. It may not adj
vance or decline as rapidly, but it is
almost certain to follow the same course
eventually. There are evidences now,
in New York City at least, that condi-
tons in this line are more favorable.
It Is interesting to note that building
permits for the country showed an In
crease of SIS per cent last month over
August. Incidentally, this is the first
increase in September. compared with
August, since 1917, according to Gov
eminent reports. This Is Offset some
what by the fact that permits for Sep
TENDER were some $4,000, 900 less than
In September, 1929, but 1t may very well
be that the easier money market will
bring about q building boom.
Lii inmirance on the whole has not