The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1935-03-28
Low Visibility

:
pirate in connection with a discus
sion of the country's economicssit-
nation and it's relation to the ad-
ministration policies and plans. The
pilots refer Ito Glow visibility" and
slow ceiling" when they want to
say that they cannot see far in the
distance. 1t seems to me that the
clarity or lack of it, with respect
to current economic conditions war
rants the use of the term Glow
visibility"-if any credence what
soever is to be placed in the state
ments and activities of business
leaders.
Government agencies by the
dozen have been issuing rapid fire
reports in recent weeks showing
how industrial production is i'm
proved, how the price level has
shown signs pleasing to industry,
If not to the consumers, and how
the volume of bank clearings is
progressing upward. Bank deposits
were seven billion dollars higher
at the end of 1884 than at the end
of 1888. The Reconstruction FL
ance corporation is having difficult
tly in keeping its borrowers from
paying back the loans and the Sc
curities and Exchange commission
recently was made very happy by
application of great packing COM
pany to list forty-five million dol
lars in new securities.
The treasury has been pursuing
what is regarded as orthodox fl
ancial policies and a good many
other agencies appear to be veer-
ing away from the leftists' course
that so long dominated Roosevelt
policies. ALI of these, it seems,
ought to be reassuring TO business,
whether that business be the great
corporations Or the little trades
men in the corner groceries. But
there has been a fly in the ointment
and that seems to be the reason
why masses of capital and good
~ percentage of the country's pop
ulation shares uncertainty about
the future economic condition.
I have sought answers to this
puzzle in many quarters and /
have had many different explana-
tions. 1t is made to appear, how
ever, from the weight of opinion
that have gathered that the re-
lief rolls are the cause of this lack
of faith. It has been recorded pre-
viousiy that approximately twenty
two million persons about one-sixth
of our population, are living on re-
lief. This staggering total, the
highest ever known, obviously rep
resents a basic weakness some-
where and the administration is
seeking to locate that weakness.
This total has been reached by
steady growth. It has not come
suddenly. The circumstance, there
fore, has led many individuals to
the conviction that Mr.. Roosevelt's
reform measures are failures.
Perhaps it is a lack of under
standing on the part of business
that prompts and its check-book
closed under these conditions. 1t
may be that business leaders have
failed to read the possibilities rep
resented by increased production
and the other signs of an improv-
ed economy. Nevertheless, bust
ness apparently has found it diff
cult to see far or clearly into the
future. It seems to look upon the
economic condition as having a
Glow ceiling" and Glow visibility"
More Messages
Washington correspondents were
startled in the Presidents press
conference the other day when he
let it be known that he plans four
additional messages to congress
this session, not including his re-
cent bitter denunciation of the
holding companies when he asked
that action be had on that bill. 1t
was not the number of messages
that surprised the correspondents;
it was the fact that the President
said with some frankness that he
did not know what subjects would
be treated in them. To most of the
observers it seemed wholly reason
able that the President should be
unwilling to outline those mess
ages, but it was incomprehensible
that he should admit his inability
to say what subjects would be han
died.
After that information came out
of the White House there was a
noticeable sinking in the optimism
of a great many men who count fo1
something in the country's bust.
ness structure. Most of them said
frankly that they did not know
which way to turn. Among their
numbers were more who believed
sincerely that the President was
giving up some of his numerous
New Deal experiments and was
proceeding on ground which the
conservative considers to be solid
The reaction to work of this kind
always has been and always viii
be bad from the standpoint of the
political party in power.
Added ito the circumstances
have lust mentioned, one should