Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-08
FURTHER BUSINESS
GAIN IS PLANNED
Leaders of Industry Prepare
for Continuance of For
ward Movement.
BY JOHN F. SINCLAIR.
Special Dispatch to The star.


NEW YORK, February 8.-The eco
nomic and business world usually lis.
tens to what John Maynard Keynes OF
England has to say. He belongs to the
newer school of British economists, Is
awake to the difficulties of the present
economic world programs, and has q
trenchant, powerful style of writing,
which commands immediate attention.
So last week when he made the state
ment that the control of natural re-
sources would be the great struggle OF
the future, he emphasized a situation
that is disturbing to those countries
which have little natural wealth within
their own borders.
Said Economist Keynes: 1.-THE next
economic storm will center-nay, 1t Is
already centering-neither in Britain
nor in the United States, but among
the great powers of raw materials over
seas. For significant signs of recovery
from further deterioration, 1t may not
be so important to consider New York
and London as to watch Australia,
South America, Asia and Central Europe
areas, which are being reduced to
grievous distress by the combined cir
curnstances Of fall in prices for their
products and the difficulty in obtaining
funds In the international market"
This is not the first time this problem
has been raised. The League Of Nations
has had committee for years studying
It. But neither OF the two countries
that have the greatest natural resources
In the world-United States and Rus
sia-are members of the League OF
Nations.
Still the problem will demand more
and more attention as the unification
Of the economic world draws closer
together.
Use Of Checks.
No nation has a better register of
total business transactions than the
United States. The widespread use OF
the check in business transactions Is
responsible. Somewhere between 90 and
IS per cent of such transactions are
handled in this way. Then the Federal
Reserve Board issues q weekly report
covering 80 to 80 per cent OF the total
check transactions in the United States
The Department of Commerce. in Its
survey Of weekly business conditions
states that check payments for the
week ending February l were smaller
than for the corresponding week of last
year and for the preceding week.
Prices for cotton, steel and iron were
down over both periods, with wheat
and copper prices remaining the same
as for the week preceding.
In the agricultural field, the receipts
Of wheat and cattle were smaller than
for the preceding week, while wheat
receipts were less than they were q
year ago.
Receipts Of cotton and Of hogs, on
the other hand, were larger than during
the previous week, and hog receipts
were much larger than the correspond.
ing week Of 1929. In the matter OF
freight car loadings during the latest
reported period, the movement Of goods
Through primary channels" was slower
than In the corresponding week of 1929
Business Is marking time. surveying
the field, checking inventory closely
putting its house In order. so that II
will be ready when the real march
forward begins.
Public Debts.
Most writers on business like to make
comparisons with the easy quiet year,
preceding the war.
In the field Of public debts, the totA
figures then, in comparison with thu
present figures, were very small. Thu
combined net bond Indebtedness Of
State and local governments in thu
United States in the pre-war year o!
1918 amounted to 93,116, 200 600. Thi.
amount went to S7,264 900, 900 by 1922
Six wears later the debt figures reached