The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1930-08-06
The Knockers Have Their Season

The wesserner who goes east comes back with the iear
of a communistic revolution implanted in his nerves ~
sees thousands of men out OF jobs IN tne 1"i" Ol'"', ~
chicago. in Detroit, and, if he goes farther, he encounters
the same conditions in Pittsburgh, Pnhaoe'phia anu W"
York. The situation is very disconcertlng' IL really
doesn't look good for the days when the SNOW ilea
However, it was the same way back in l895-90. Wil'am
,o,r;ncc prva, cot his foothold out of similar conditions.
To merely stole a metaphor Of a Massachusetts, irish con-
cressman and said grass would grow in the clues IL Ie
farmer failed and that this crown OF thorns should hot
Chicago, in Detroit, and, If he goes iarther' he
be pressed on the brows OF labor, etc.
Rut in time the country came back to prosperity. Bryan
stu,tified. He never achieved the presidency. Each
campaign his radical appeal more ana more nlaiAe" nAA
as the great American mountebank OF tne cell'"AS'
So TODAY it may be a case Of the darkest hour Delhe
inst before the dawn. Certain 1t is that many mlnos 'e
country over are surrendering to the same kino u
r,o,ntehankism that was preached by William ). Bryan
. folv leader of his days, if ever there was one IN this
country. ,s
The plight of American agriculture ana INDUSTRY 40 LEU
up to ridicule as a symptom OF weak ADMINISTRATOR a'
W. Washington. World conditions of the same CHARACTER
generally a little worse, in fact, than IN TINS country
are blandly and blindly ignored. The Administrators
~ Washington is held responsible for the shriveled wheat
lernel for the hot winds, for the surplus OF wheat ra'sco
bv the national farm community unable to cooperate on
curtailment of acreage.
Conditions that have not existed for 40 years are LAID
at the door OF the white house. How ridiculous! was
Herbert Hoover responsible for the record OF naro uHeS
and crop failures and drouths 40 years ago? Inele Is q
lot of irresponsible and insane thinking gong OH ti'eSe
tavs-thinking that is criminal In a time OF adversely
that wants to be considered on its merits and demerits
and facts, not on cynlclsrn.
r. is possible that some of these short-slgnted crlucS
will be answered by developments shortly. Allard Snltn
,;oo roc;dop If thn Union Trust company, cleveland
saws that although business continues at a retarded rate,
the forces making for recovery are slowly but surely &C
cumulating. One of the most Irresistible OF tnese Is tne
growing supply Of credit, together with easy money rates
In the banks of America funds are piling up at an al
most unprecedented rate.
Idle money does not pay for its keep. Sooner or later
it must be put to work and eventually with returning
confidence the easy condition of credit is most likely 10
constitute an important stimulus to trade.
Rapid accumulation of deposits in American banks dur
ing the first six months of 1880 sets a new high record
Tn addition It is a possible forerunner of a business up
turn. For the period deposits Of reporting member BANKS
of the fedora! reserve system increased $l.494,OOO0Oo' OF
approximately ID per cent.
In the first six months Of 1924. also a period OF slow
trade, a heavy gain took place in deposits OF these banks
Later it was found that this rise marked the beginning 0
a business revival. The gain in deposits In the first hal
of 1924 was 81, 1853, 100000. Business had declined IN 1872;
and 1924, but the revival carried it into a long perios
of activity.
On June 30, 1890, bank deposits had reached s~2l,sl7.ooo,
600. If the gain continues as it did in 1924, by the clos
of December, 1880, depositors will have $2300oOoo,O0o Il
these banks
This year the loans banks are making, which point tn
business trend, are for capital projects, for expansion
and betternents. Industry Is charging its capacity, pre-
pairing for greater and better production and lower cost:
as witnessed by security and investment loans. CONNER
cial loans have decreased.