The Kennewick courier-reporter and the White Bluffs spokesman. [volume] (Kennewick, Wash.) 1938-1939, 1938-11-10
ECONOMIC HIGHLIGHTS

ECONOMlC f1l\Jf1LASI114o .'..
Observation-Disclosures will be the
best year for business and industry
in a decade" That sentence accur-
ately sums up the views of numer-
Gus economic forecasters today. In
their opinion, the recovery move
ment, which was staggering and I'M
certain when it began seven or eight
months ago, will continue to gain
both in strength and velocity.
The forecasters, of course, have
been wrong before, and grievously
so. But it is a fact that at present
opinion is amazingly unanimous as
to the pleasant prospects ahead for
the immediate future. You can find
many an authority who is dubious
over the long-term outlook-who,
for instance, believe that govern
ment's greatly-stimulated pump
printing activities are going to cause
the country plenty of trouble In
years shortly ahead. But you'll have
a hard time finding an authority
who doubts that next year will be
the most prosperous since the de-
preston began. As the conserva-
tive Annalist puts it, Recovery
shows no signs of slackening."
Biggest recent optimistic news was
the announcement Of a tremendous
spending drive by the nations cleo
trio utilities. Representatives OF IA
major systems met with the Presi-
dent in Washington, and, as an APP
dispatch phrases it, amid a display
of friendliness which left the capital
guessing -. announced q far
reaching program to strengthen ma
tional defense and stimulate indus
try by expanding private power
facilities" Details involve spending
at least $4,000 900 in the next
two years "a sum double the recent
rate Of capital expenditure by the
Industry and buying sufficient
equipment to add 1,330.000 horse
power to existing capacity. And
this, 1t is said, is only the first
stage-if plans go through as sched-
uled, still greater expansion will fol-
low.
On the req SIDE OF the ledger, in
the view Of business generally, is the
Presidents Emergency Boards re-
port to the effect that railroad wages
should not be reduced, and that
railway management withdraw its
request for q IS percent cut. The
President has met with George Har-
rison, representing railway labor,
and John j. Pelley, president Of the
Association of American Railroads,
for conference concerning what to
do In the future. The railroads are
Enthusiastically in the worst posi-
ton Of any major industry. But
there is possibility that even this
may have It's brighter side the adj
ministration is considered friendly
to the lines, and informed observers
say that legislation to help the in
dustry In one way or another VIII
lead next congress calendar.
Excellent augury Is the automobile
industry's rapid emergence from the
economic doghouse. The severe
shutdown in production that took
place last spring and summer was 8
strong depression factor. BY the
same token, the unlooked-for Inn
provement in production and de.
mand now-which has caused some
makers to change their plans ant
embark on more elaborate ventures
than they thought wise even q few
months ago-is strong recover!
factor. Important by-products u
this field has been substantial
amount Of high-wage Unemployment
In brief, the barometers give tn
commentator every reason for beinl
bullish today. There may be mino
setbacks- especially In security val
ues, where considerable profit-tak
ing at intervals Is to be expected
But it seems certain that next yea
will be as good as any year sine
103O-and In all probability better