The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1938-04-01
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ECONO MIC
HIGHLIGHTS
Happenings That Affect the Dim
ner Pals, Dividend Checks and
Tax Bills of Every Individual.
National and international
Problems Inseparable
From Local Welfare

winter, the hard fact that the
business situation is growing
worse rather than better becomes
constantly more apparent. There
will doubtless be some spring bet
terment, due to the traditional
season factor. but in all proba-
bility it will be less than was ex-
pected even two or three months
ago. The summer period, judg-
ing by current indicators, will be
dull. And whether or not there
will be resumption of a recov-
cry movement next fall and Win
ter is purely a matter of guess
work.
The securities market has been
declining slowly but very steadi-
ly. The foreign situation has been
responsible for this to a consid-
cradle degree-on the day when
the Polish-Lithuanian, dispute
reached its crisis the market went
into big skid, and volume of
transfers, was relatiYely.N heavy.
Lithuaniass accession Ito 1VPolish
demands stopped this trend, and
the week ended on better note,
but such foreign crises may be
confidently anticipated at FREE
quent intervals from now on, and
each will probably produce it's
reaction.
Most important, of course, is
the domestic situation. That the
general feeling of insecurity, be-
wilderment and plain fear of
what tomorrow may bring is
spreading, seems to be beyond
argument. And the Administra-
ton, faced with a non-spectacular
but extremely important loss Of
support in Congress, is apparent
ly undecided about what to do.
Some of the Presidents most 10y
al supporters are dismayed and
disappointed because of the lack
of Presidential activity. And the
Roosevelt critics are declaring
that his leadership has become
bankrupt" Further, the best
available evidence that the Presi-
dent is losing out in public APP
proval-the last Institute of Pub
lie Opinion Poll (this organization
forecast with almost perfect ac-
curacy Mr.. Roosevelt's terrific
1896 sweep shows substantial
decline in the Roosevelt follow
ing, especially in the eastern in
dustrial regions. This does not
mean that more voters are turn
ing to the Republican party-the
COP has to offer a great deal
more than it has SO far, most OBJ
servers think, before it can hope
to regain its once-high position.
It does seem to mean that a great
number of people are losing faith
in the New Deal, do not know
where to turn, and are more or
less on the fence. Whose leader
ship they will follow in the flu
ture-whether the Presidents, or
a man with another cause--is an
unanswerable question now.
Many of these people are bitter,
feeling that both the parties have
betrayed them with unredeemed
promises. Thus the stage is be-
coming set for a political revo-
luton" in this country. If times
get worse, the chance Of such a
revolution occurring wfn naturally
be greatly increased. If times get
better, the chance will be mater
tally lesSeneo.--e
Some business briefs of inter
eSt, follow: -
- RAILR oADss 9he ices rate
/ increase grant was fess than half
of what the lines think is neces-
sary if they are to keep solvent
Much will be heard of railroad
/ reorganization, either forced or
voluntary, before long, and it is
+ possible that some kind of legis-
lation aimed at this end will be
introduced in the current Con-
/ gresS. In the meantime. the big
increase in railroad purchasing
that was expected if the full re-
quested increase was granted. will
not occur, and further retrench-
ment by some lines may be an
ticipated.
STEEL: Has been ranging in
the 1881 per cent of production
bracket for many weeks. A ma
terial increase is expected very
soon, due to bigger buying by
motor makers.
CONSTRUCTION: In the first
two months of the year construc-
ton contracts awarded were q
per cent below the same period
last year. Residential building
was down IS per cent. However
more home building is starting
now, due 10 the season and "a
Federal housing laws inSuring 90
per cent Of money loans for small
homes.
AUTOMOBILES: In the first
two months Of the year produc.
ton was $1,000 units. IS per cent
under the same months last year
One good factor is general de-