Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-24
Conservative Optimism.

II optimism can bring results in any
field it will surely effect The restoration
Of business health in this country
Signs are plainly evident of such a
spirit. Leaders in trade, in manufac-
turing, in finance are all talking about
the revival of prosperity that is under
way, the restoration CT confidence that
is manifest, the reopening Of mills, the
speeding up of work, the leSsening of the
number of the unemployed, the steady,
If yet slow, increase in the volume of
business that is reported from all Sec
tons
While some of this talk may be for
window dressing" for purely psyche
logical effect, it cannot be that all of
those who thus speak of reviving trade
are merely whistling to keep up their
courage. There was good deal of such
talk year ago, when the country was
still quaking in the CONFUSION of the
stock market and downward adjust
ments were being made, one after an
other in a distressing series of recess
sions.
If the good times" slogan, sounded
when there was no warrant for the cry,
led anybody to take a chance in specu-
lative enterprise, only to meet with re-
verse, the optimists were hardly to be
blamed. Far worse would have been the
effect of a chorus of The country is
going to the dogs!" and The worst is yet
to comet" Though they were refuted
from time to time during the year the
hopeful forecasts that were not fulfilled
had their good effect in preventing utter
despair.
The optimism that is now finding
voice in statements by business leaders
is temperate and conservative There
are no loud voices chanting Immediate
prosperity" The chorus OF hope is more
helpful than the somewhat frenetic
sounds of year ago.
Two statements have been made
within a few hours that illustrate the
change In the form of expression. One
OF these comes from the board of di-
rectors of the Chamber of Commerce
Of the United States, to the effect that
reports from member organizations
throughout the country Justify the
hope that the dead center of depres-
sion Is past" and that a majority OF
the reports show "a slight increase in
business activity and an improvement
in the employment situation"
The other statement came from George
r. Baker, dean of American bankers,
noted for his taciturnity. 1t is said that
In his entire career he has given but
two interviews. This second one was a
marvel of brevity. Mr.. Baker, on the
eve Of departure from New York for
Florida, permitted a spokesman to say
for him, There are some indications
OF improvement on sound lines"
Nobody can quarrel with either of
these outgivings. The Chamber of
Commerce directors Justify the hope"
that depression is at an end and Mr..
Baker notes some indications of i'm
provement." Those are, in truth, more
helpful in their psychological effect
than the 'climb-on-the-bandw
proclamations of 1890, which perhaps
induced many to take rides In un-
trustworthy vehicles, to their eventual
sorrow.
One phrase Of Mr., Bakers nine-word
sentence is especially to be noted-"on
sound lines" In truth, that is the
heart of the question that faces the
country today. Any improvement on
other lines is a disadvantage rather
than a help. The sounder the lines,
perhaps the slower the recovery, but
the longer the endurance of the pros
perity that will ensue.