Evening star., 1938-01-08
Figures Show There Is
No Business Recession
To the Editor Of The Star:

10 the Editor OF The star:
After reading the defense of several
columnists, including Dorothy Thompson
and Mark Sullivan, and also listening to
the news commentator, Lowell Thomas,
each attempting to excuse undue en-
phasis upon the so-called business recess
sion, am moved to call attention to q
number Of facts which would indicate
the reverse Of business recession.
In recent broadcast Lowell Thomas
said he recalled how he was required
to minimize the depression Of 1893 1892
and emphasize all the cheerful news con-
corning business in order to create the
proper psychological atmosphere, but
all to no avail. might add that If Mr..
Thomas worked half as hard to serve
the best interests Of the country at large
during the present situation as he did to
serve the interests controlling his broad
casts during the Hoover depression he
could easily find good news to relate
concerning business increases in wages,
sales, ETC., as evidenced by the following
facts:
A. A. Patton, Associated Press statis-
tician, In an article published in The
Sunday Star, December 26, stated that
although 1887 was widely labeled as q
year which brought renewed slump, it
actually saw several industries set new
high production records and others
touched historic peaks for all time.
Groups topping all previous standards
are as follows:
Cotton textile manufacturers, cotton
farmers also, due to favorable weather
conditions, raised a bumper crop. The
electric branch OF public utilities broke
all previous records, as did electric re-
frigeration and air conditioning, a new
industry. The great petroleum indus
try also counts 1887 banner year; avi-
alton pushed to new peaks; the shoe
output sets new record. October as
semblies for automobile makers were the
best ever attained. During the first five
months the steel industry turned out
more ingots than 1t did at the crest of
the greatest boom in history.
He further states: ALSO hanging up
new records were Treasury gold stocks
at $2,804 900 900: demand deposits in the
countrys banks, $37, ,OOO, ,OOO, 600 late in
December compared with SIG 600, ,OOO, 900
in 1929" more than double the 1929
record.
Does all this sound like business re-
cession? If so. let's have some more like
it. Furthermore, while a great deal has
been written about the income tax COL
lections falling below the estimates, little
stress was laid on the fact that they did
exceed collections for all years since 1929
by millions of dollars. Also the income
Of the laboring classes as shown by So
cial Securities statistics is greater than
at any time since the boom years of
1928 and 1929. All this means increased
purchasing power by the masses as is
evidenced by store sales, purchase Of
automobiles increased amounts paid out
by banks on Christmas savings funds,
etc. Another headline in The Sunday
Star of December rs read: "Yule Busi-
ness Tops Estimates, with South in the
Lead"
For lack Of space, I have omitted
figures showing actual increases in above
industries. but these figures are available.
I should therefore advise Lowell Thomas,
Dorothy Thompson and Mark Sullivan to
make study of such statistics and give
a little publicity to all this good news.
1t would indeed be a refreshing change
from the dire forebodings in which they
50 frequently indulge.
INEZ JUSTUS.