Newspapers / Wilmington Morning Star (Wilmington, … / Jan. 29, 1921, edition 1 / Page 3
Part of Wilmington Morning Star (Wilmington, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
- ; 4 THE.' MORNING STAR, TOnNGTOy SATURDAY. JANUARY; 1921. A THREB f 1W 7 am w '" i- - lJ -r d a r ' -A ' AS Srf', W By FRANCIS H. SI830N, Vice President Guaranty Trust Company of New York. B are entering the sec ond stage of ur post war transition period. xne . momentum of economic forces generated and ac celerated by the' war ts rapidly ex pending itself, as Is evident from lessening Industrial actirltles in many lines. Inflation la being ar rested ; the era of extrsTagant ex penditure la ending;; devastated Europe is again beginning to nre- duce. as shown by the rising tide of imports. ' The peak of high prices to com- moauies generally Das been passed. and readjustment to normal levels is anaer way.f Thla, of course, will affect all business. There has been a steady decline In, commodity prices as a whole from February of this year. In some lines these de clines are more pronounced than otters, fa manufactured products this Is true as yet In only, slight de gree, oni ii is certain to be -reflected mere aisa And In a declining market It is tne part of wisdom to be short on commodities and long on - credit This ts not the time- to borrow In order to carry large stocks of goods or to stimulate the production of non-essential commodities. But commercial loans are not being de nied to any Industry that Is endeav oring to Increase tb prediction of essential goods. , ' . " While the Federal Reserve Board us declined to rule on what are SORTING ORB INI A fiiiPD MINE IN CENTO A I AMPDtrA. THESE SOUTHERN COIJMTDICC t RICH IN NATURai QFCnnoree VOX -I 1 f"-T"JMrT"T"M ilW - - iii trmr r .. .. ... 'I, w ESS '. A. AV.V7 .1 1 1 1 CROWDED COURSE OF NEW YORK HARBOR THE GREATEST PORT IN THE WORLD-AMERICAS NEW MERCHANT MARlNEr SHOULD GIVE US A DOM INANT 'POSITION IN FUTURE UORLD TRADE :..w,'.v.,,v.,.w.v.v.vA J ". Al WSJ?' 1' i ffy ft ' ? te Plfi X. GRAIN ELEVATORS BUENOS AIRES ARGENTINA- THIS AGRICULTUR COUNTRY IS A RICH FIELD FOP AMERICAN ENTERPRISE, 5 THIS r?,.M,tL-MEY FOR f;???tV AMERICANS w.KKETS FOLLOW , ,NV5TMENTS sentitai ano non-essential commodi ties, banks throughout the country have proceeded, on the general basis that an essential commodity ts one for which there ts an urgent demand and: which is indispensable to .the welfare of the community and have encouraged the greater production of necessaries. "1. , Banks prosper most when indus try is most prosperous.' Their atti tude Iq the : present .situation is wholly in the Interest ef the coun try's economic welfare. ' Manufacturers and dealers trying, ?! n JL" NT -,V,SV. . . . . OCT JC'.W 'V.WA .V mm DOCKS AT VALPARAISO -CHILE- A CENTRE OF DISTRIBUTION FOR AMERICAN GOODS. to rnstafn prices by artificial means are merely emulating King Canute, only they are forbidding the tide to -recede. They are trying to do that which bureaucratic governmental agencies sought vainly to accom plish during the war-namely, the suspension of the operation of eco nomic laws. COFFEE PLANTATION IN BRAZIL- A RICH COUNTRY AWAITING AMERICAN MERCHANTS ft would bp well now to consider the trend of our foreign trade, for there is a close and vital relation ship between the state of that trade" and domestlc prosperity. It is high ly significant that the value of our exports for the seven months' pe riod ended with July' should amount to only 6 per cent more than -the ex ports for the corrspondlng period of "1919, whereas imports Increased In value 78 per cent The excess of our exports over our Imports for the first seven mdnths of this year was practically only half of that for the corresponding period of last year. While the decrease In our enor mously favorable trade balance is altogether wholesome. In that to large extent It measures the re cor ery of industries In Europe and 1 evidence that 'we are Increasingly', receiving . payment for goods in goods rather than In credit,' which) Is gradually but materially affect! lng the trend of prices In this coun try, it also 'serves to call attention' to the vital fact that the time is au-i proachlng when America will be. confronted with a contracted Euro pean markeL ' ' When that happens there may be serious consequences, if in the meantime other markets for Amer ican products are not found. And the best way for us to create new markets Is , to finance new enter . prises and construction work ta ' Latin-America. China ; . and else where. Trade follows Investment, as England has demonstrated to her huge profit. There la another Important ele ment to consider- Within a few yea re we have acquired a large mer chant fleet. We must keep It prof itably employed. The terms of the Shipping Bill, commit us definitely to an aggressive policy In the use of this new fleet. And It. Is a source of gratification to ote that American ships today carry 60 per cent of out ocean-borne foreign trade. The sig nificance of this lies In the fact that for sixty years a large proportion of the' profits of American lndu tries has gone overseas In the, fonsj of ocean freight rates, marine In surance premiums and banking com missions. The toll has aggregated billions of dollars. It must be admitted, of ourse, that there are serious-difficulties to be overcome before capital will be. able to flow In the needed amounts Into foreign Investment, The prea ant bone demand Is unprecedented ly strong. Billions are needed In the United States to supply equipment Cor our railroads, to make up the de ficiency In building operations that the war created , and to meet other urgent domestic demands. An Invest ment of about $25,000,000.000. or the approximate equivalent of the na tional debt of this country, it has been estimated, Is necessary to re habilitate the basic national plant which includes the railroads, hous ing, factories and public utilities in 'general. , There Is no longer any question about the Imperative toeed for re pealing the excess profits tax or of the practically universal demand from all substantial business Inter ests for such action. Even more vital than the reform ing of our tax laws, however, Is the transportationsituation. The rail roads have rtghtfully been returned to their owners, under provisions for ample Government supervision and fair treatment to the carriers as regards rates. But these favors able factors cannot Immediately re-' store the credit of the railroads, and they cannot supply at once the, freight cars, engines and terminal facilities so imperatively needed, o day. There is only one way, id fac to overcome the serious handicaps confronting the carriers, and that Is . by the full co-operation of raft, way managers, railway employee shippers and the public BON WmTmmMGOOD:. CLOTHE f 'lift Oii Our Liberal Terms Through Our New CREDIT SYgTEM LADIES' DEPARTMENT maMBMBBn MEN'S DEPARTMENT LADIES' COATS OVERCOATS $27.50 to 50.00 $15.00 to $50.00 Greatest Credit Clothing concern $5.00 Down, $1.00 Weekly $5.00 Down, $1.00 Weekly in the world, operating over eighty ;- ' ' ' stores throughout the United States , , ,v j and on account of temporary de- MEN'S SUITS $20.00 to $40.00 LADIES' COAT SUITS " ' pression in business are offering $500 Down, $1.00 Weekly $12.50 to $50.00 their entire stocks on the most lib- ' ; ; $5.00 Downi $1.00 Weekly . eral credit terms ever heard of-as BOYS' SUITS $6.00 to $12.00 f ' low as $2.00 down and $1.00 per ' , " . , - , $5.00 Down, $1.00 Weekly week. Come quick and get some of. LADIES' SHOES, HATS AND the bargains! -:- 3 . . .. . . ' .' ' . . ' DRESSES SOLD ON THE . y MEN'S SHOES, HATS, ETC., SOLD 1 'SAME PLAN ,jzrafamgjaf ; ON THE SAME PLAN ' " " . i ' ' V . : J-' 109 North Front Street . "- '' ; - .. - .-. s..'' i ' -.. . - . r : " MJ I F. M. SOUTHERLAND, Manager. ! f k .1 1 '.'!: . ? tit '1' 1 1 . 1 1 f 1 I 4
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Jan. 29, 1921, edition 1
3
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75