The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-10-21
ITS OUR JOB"

NEWSPAPER readers eager to see brighter side
of our economic picture than thew find on the
Iugubrous editorial pages of the anti-Roosevelt
newspapers should turn to the financial pages of the
same papers. Here they may read such realities as
these headlined in current issues
Executives see trade upswlng Nation said to
be ready for the greatest replacement in history
Boom in 1886 predicted 500 sales executives told
there will be buying waves in consumer goods ma
chinery housing"
Rail loadings gain 1862 per cent over year ago
- New high since 1881"
Earnings data reflect gains in building field"
Auto trade plans for 1886 output of 450ooOo units
-. Attainment of objective would mean production
above t923-29 average"
Corporate financing gains in September
$26l9lo,OOo in new capital compares with $6176,OOo
year ago.
Electric power production again sets record
high"
Cotton consumption up 54,520 bales"
Republic SteeIs net earnings estimated at
$500 0OO"
Farmers turn heavy buyers-Farm income this
year is estimated at 81 billions"
BEST October in five years seen by survey
Industrial production is estimated 10 per cent above
year ago"
continental Can earns $423 common share in
II months period compares with 1918 in CORE
spending 1884 period income at record high"
Inland Steel 9-months net may pass best full
year since 1929"
Associated Dry Goods declares So dividend on
first preferred"
office equipment firm reports higher profit"
Continental Baking net $5O1 9S5 in 10 weeks"
TNHOSE look like realities indeed; as if we are
definitely on the way. But how long the up
turn will continue is, in opinion, dependent al
together on how wise business is in its distribution
of the gains that are now occurring
The Soundest advice to business that we have seen
is that expressed by Vice President Charles Francis
of General Foods in talk to 500 of his sales execu-
tives in New York.
This is no time for political criticism" he said
IF there is going to be substantial and enduring
recovery we've got to pull ourselves out in spite of
our wonderment and disbelief in many activities
going about us. It's our job"
Much of the business improvement to date can be
traced to government spending But this spending
can not continue forever Private business must take
the show.
Before business today are all the makngs of
healthy boom-a vast, highly civilized, but tempo
AdIHy t'tShQpdIe country, mlIlOnS or whose people
are under-housed, under-cothed under-eouipped
with simple comforts, and even under nourished
Mr.. Francis reminds business that right here is
the greatest potential market on earth" Last wear
only one pair of trousers manufactured for everv
three males, only one overcoat for every IL men
only two pairs of shoes per adult male felt hat for
every four Coats and suits were limited to only one
woman in three. Three-fourthS of our motor cars
are more than four years Old Farm machinery is
dilapidated. Millions of homes are in primitive
state"
But, to furnish these millions with what they
need now and in the future is more than merely
making and selling job. Lessons of the depression
should prompt finance and industry not only to the
distribution OF goods TO the multitudes as times pick
up, but also to the distribution of the increased
wealth in higher wages shorter hours and security
reserves in order that the number and purchasing
power OF customers may constantly rise a balance
of production and consumption be attained-and
then maintained
All that can't happen-the vast potentialities of
our domestic markets can not be realized-on any
such per capita income as that which now exists
with one one-sxth of per cent of American families
having $1,000 year more, per cent $4,000 to
$500, % per cent $500 to s30OO and about 70
per cent less than $500, Prof Neystrom of Columbia
estimates, and We believe his conclusion is by no