The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-09-20

w duleu, dill Industry
Any study of the history of depres.
sions in America gives rise to the
question Of how, if ever, we are te
reach the standard of prosperity
which everyone desires.
This nation has experienced numer-
Gus periods when business was poor
courage at a low ebb and pessimiSts
more numerous than optimists. We
have survived every one to go on to
new and greater heights of prosper
ity. The means by which prosperity
was restored are interesting to us now
because, if they are available, we
would like to make use of them.
At least two depreSsions were ended
by war, one of them within the men,
ory Of any adult now living.
Rarely have things looked blacker
for the nation than in 1857. Banks
crashed, people were out of work, for
eign commerce was practically neg
ligible and every factor made for
gloom and despair. Four years later
under the compelling influence of the
Civil war, things were vastly improved
in business way, although the basic
factors of the situation should have
made the outlook much darker.
Again in 1914 depression stalkeo
through the land. 1t failed to touch
bottom, however, because Of the out.
break of the World war and the at.
tendant demand upon America fol
materials. Instead of the usual course
Of depression We saw the procession
of war brides" which made million.
aires Of many. This was followed BY
our own entrance into the war anc
the war babies which made mil
lionalreS of thousands, even while il
added tremendous new burdens tc
the national treasury.
There were depressions prior te
1857 and numerous ones afterward
notably in 1873 and 1898. They were
bad and reached their full depth but
the means by which better conditions
were restored are plain enough. Al
that time there were millions of acres
Of undeveloped land in what is now
the middle west. When things got
too tough in the east people could
move to new territory. The young
and strong braved the hardships OF
the frontier and created new wealth
by their enterprise and toll. It was
a process of expansion which Stimu-
lated trade and industry in the east
because of the demands by new ter.
ritories for money and supplies. The
money went into investment in en-
terprises which often returned hand
some profits and the supplies were
needed to aid in the development oil
the country.
In 1920 there came another depres-
sion, although one not Of long dura.
ton for most Of the country. The
cure in that instance, we find, was
neither war nor expansion. 1t wa.
the development of great new in.
dustry.
Prior to the war, the automobile in.
dustry was recognized as a potentia
giant but neither it nor it's alice
services of supply had even ap
preached the magnitude which w
know today. If one doubts that fac
he might check back on the auto reg
istration of IL years ago and the num-
Der of filling stations. tire and acces
sorry shops and other enterprises, al
of which stem from modern motto,
transportation.
It is clear therefore that the auto
mobile industry, while it did not worl
single nevertheless playe<
the stellar role in the development
which we witnessed between 1920 ant
1880.
If We are to depend wholly upo,
history for a guide to the future
therefore our prayers should be di
rected toward the supplication TO-
either a war, the settlement Of new
areas or great new industry.
One of these cures is denied to u
now. There are no large additions
farming districts which may be set
tied with profit or any degree Of per
manency. War, of course, Is unthink
able and its effects, insofar as bust
ness is concerned, would be far wors'
than it's temporary stimulus would b.
worth, not to mention the terrible
human consequences.
History leaves us. then, only new
industry to lead the way to new anc
greater nrdenerffv What xI1ali III he I