Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-12-07
As Told TO J. v. FITZGERALD.
(Cnnvrirhk 1a2n nv North Annarinan NJ.

As Told toJ. v. FITZGERALD.
Copyright. 1880. by North American News
paper Alliance)
I believe that the causes which led
to business depression in this country
have worked out their full result and
that there is no sound economic reason
for the further continuance of the con-
stricted state Of business. Indeed, It
seems to me that there are obvious
signs, here and there in different lines
Of business and In separate places
throughout the country, of the begin
ming Of the end of distress.
Take for instance the recent survey
Of industrial conditions in Is States
that was made by the National Asso-
citation of Manufacturers. It revealed
a general business improvement and q
slight pickup in the unemployment
situation. California, Colorado, Indiana,
Illinois, Kentucky, Massachusetts, Mis-
souri,, Michigan, New York, Oklahoma,
Ohio, Rhode Island, New Jersey, Con-
necticut, Pennsylvania, Georgia, Utah
and Washington were included in the
survey.
Gist Of Reports.
OF these States, IL showed improve
nents in present business, two reported
business stationary and four reported
decline. The reports from II States
expressed confidence Of better condi-
tons by Spring at the latest. One
looked for no change and the other
three considered the situation unfavor-
able. These three were mining, agricul-
ture anG lumber States.
Certainly such reports as these should
serve as gloom chasers and to Undue
business men all over the country with
the spirit Of conservative optimism.
Mills are slowly returning to full time
operation and business will be well on
the road back to normal before We
realize 1t.
We can hardly look for q rapid rush
Of recovery, despite the encouraging
signs, and that is a good thing, in my
opinion. hope that the impending
improvement will be deliberate and
continuous rather than quick and
spasmodic. It would be vastly better
for US all, in the long run, If we could
grow out Of our recent difficulties surely
but steadily and 50 escape the tempta-
ton to excess.
Our temperament as q people GER
tainly plays q part in the exaggerated
swings Of our business cycle. It seems
to act in business matters by recurring
stages Of enthusiasm and depression
At one point in the cycle we touch the
heights of optimism. From this we
drop to the depth Of pessimism.
Plight Largely Mental.
We have been in the latter stage fol
some months now, and at the present
time I should say that our plight /;
largely a mental one. We are suffering
more or less, from the momentum OF
thought and from the habit Of gloomy
eROf IN hat
attitude, and in so doing avoid its op-
posite. Otherwise we might very well
pass from this needless depression tc
an artificial prosperity that would not
be lasting.
In other words, we are not in need
Of q sudden boom. Our real recovery
from recent conditions is much more
likely to grow in proportion as it Is the
result of steady growth instead of any
thing even approaching q boom. II
would be short-sighted friend of bust
ness who would seek to bring about Q
revival in undue haste.
The improvement in conditions thai
already Is making itself felt should b.
q matter Of growth that will be steady
and perhaps slower even than some Of
us might wish, but moving step by ster
into sounder conditions. Perhaps ar
analogy In nature may be found in the
fact that the animals which have the
longest infancies are the longest lived
do not think there need be any
recognized movement toward prosperity
until it shall have advanced rather far
In my judgment 1t will be a matter Of
individual recognition that the day OF
boomS Is passing. Here or there a man
or q concern, will awaken to the fact
that the depression seems to have
IL. a. -
and firm will then take courage and
step ahead.
The movement will be more normal
II it thus arises out of the individual