The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1943-12-03

bureau OF Foreign
and Domestic Commerce, perhaps
comes close to naming it when he
says that while we are not in
psychological depression we are in
depression psychology He hast
! ems to qualify that nomenclature
for the present period, however, by
saying that isn't exactly accurate.
But for lack of better name and
for the purposes Of this piece it will
have to do.
Accepting the present state Of af-
fairs as depression psychology"
what Is 1t? 1t is a psychological par
adoX-the paradox of depression in
the midst Of prosperity.
CHEERFUL PICTURE
Comparing September 1913 index
nunberS-the latest available, with
! those of September, 1912, a few ley
figures, on the basis Of the 1885,
1899 average being 100, look some-
thing like this:
Income payments, 2l5 as against
lie. In money, it's SIPS billion a.
gainst $l05 billion. In September,
1899, 1t was Sc billion.
1nEome from farm marketings,
292 against 260. In money, it's So
billion against SIT billi IN. In Sep
ten'ber, 1899, the index was SO, the
cash value 5000 million.
Industrial production PAT against
213. In September, 1889, it was 119.
Savings Of individuals for the
year are estimated at $36 billion as
against $3.50 billion last eyar
Unemployment is down to 100000
as against IL million a year ago. In
September, 1899, 1t was nine million.
Industrial failures are down to 1874
for September, 1913, as against $50
for September year ago, though
that figure may be misleading in
that it covers only the cases getting
into court, and not the voluntary
iquidations of small businessmen
who mayShave quietly folded up and
gone into the Army.
Building activity, however is way
off, only 1854 million worth Of new
construction in September this year,
against $1.4 billion a year ago. The
retail automobile business is shot
by war restrictions. The newspapers
can't get enough paper for all the
advertising they could sell and all
the news they could print. There
are bad spots, regionally. But by
and large, everything points to the
existence of a first class boom.
MONEY VS.. MELANCHOLY
Still, nearly everyone feels ter
rible, even if he is making more,
working more, saving more, spend
ing more than he ever has before.
How come? What's the psychology
of it?
Maybe you have your own ex-
PLANTATION of it. A lot OF it may be
the psychology OF petty annoyance
over not being able to get as much
filet mignon, as much gasoline, as
much whiskey as you can now af-
ford. That the United States has
escaped the major anncyanoes Of
invasion and BOMBING and famine
cuts no ice.
Maybe fear contributes to IL. Un-
certainty on postwar employment.
A general srspicio that maybe
this whole wartime boom, being fl
nanced on borrowed money, will
collapse completely when the war
is over. Fear of the threat of in
flation now and a greater fear OF a
postwar initiation later.
Maybe a restless desire for change,
born of energies pent-up by war
restrictions. It might lead away
from liberalism towards conserva-
tisrn, away from internationalism
toward greater nationalism.
Whatever it's underlying reasons,
this depression psychology, this
paladoxical prosperity or whatever
you want to call it, is the most i'm
portant political and economic fac
tor in the country today. This psy-
chology could easily swing the next
election.