The Washington times., 1938-09-09
Good News From the
Business Papers

Business Papers
IF WAR doesn't kick the world in the face, there
some nice signs of business recovery. We have cued
the most significant of these from yesterdays Journal of
Commerce and Wall Street Journal the interesting and
reliable business papers of this community as foows
Chain Stores Lead Recovery
August sales reports indicate that chain stores are
leading other retail outlets in the recovery, has hap
pened in the earlier stages of most previous upurns
Little Industry Developing in Frosted Foods
rapidly expanding little industry is developing in
the refrigeration of foods in cold storage lockers which
may be rented like deposit boxes.
Steel Production Best in Ten Months
Steel ngot production in August the largest in 10
months exceeding the July total by nearly 80 per cent.
Railroad Loadngs Reach New Peak
Another sharp rise in carloadngs to new high for
the year is indicated The recent increase boosted
loadngs to 650000 compared with 62O511 the
preceding week. This also should ease the railway wage
dispute problem.
Department Store Sales Here Up Sharply
Retail sales of the large metropolitan department
stores have shown sharp increase during the past week.
running well ahead of year ago.
"Heavy Goods Spending
Federal Government outlays for "heavy goods which
have continued to lag in recent weeks, should shortly
begin to expand
Highway Building to Show Gains
AS result of the recent squirt in contracts awarded
the volume of highway construction under way in the
remainder Of the year should reflect sizable increases
over the 1887 level.
Though has been generally stated and assumed by
the business classes that the New Deal has frightened
investors nevertheless is revealed that between 1882
and 1887 the steel companies increased their funded debt
from 453 million dollars to 500 million dollars using this
money to expand plants
There is other pertinent item in the financial
papers, We don't know if it's good bad. 1t is reported
that bank deposits have almost reached the ame high
established in 1886 Perhaps this has something to do
with increased confidence in the banks because of Fed
eral deposit insurance. but the fact remains that most
Of the money in the banks isn't moving It's money in
the ground-dead money.
Having told the good tidings and the one dubious
tidng listed above. the Journal of Commerce mourns
about relief It points out that though there just
about many unemployed
Relief Money: under Hoover Ia guess, since
Te n Wnstod2 still have accurate census),
lief costs have trebled and
still going up This business paper to regard the
expenditure of three billion dollars for relief this year as
unmixed evil.
We don't know whether the business classes believe
that relief ought to 60 back the Hoover basis of
bread lines, living the relatives made work and
Hoovervile colonies. We don't know if the business
classes would profit if that happened The average
American relief worker gets around $54 month
closer to $50 in New York cityno grandiose
for family But this $54 or $50 month is
acy the opposite of money piled up in the banks beg
xing for borrowers. It is live money; money that is
spent.
How is it spent? Some of it goes for cigarettes, be-
cause even relief workers smoke Some spent buying
The News: some for hat shoes for the wife in
response to advertisements be-
ReLEef money cause even the wives of WPA
'Koono Moy,;nn workers shoes and stock
ngs in New York City. So that
money fluid in comparison to the static money in the
banks. It keeps moving. enriches the life Of every
body it touches goes BY The business people
who pay taxes for relief if they smart get much
of their money back in additional profits.
ON or NewO
The RicVcle Menace