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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (June 21, 1921)
TUESDAY, ."JUNE 21, 13Z1. THE OREGON DAILY JOURNAL, PORTLAND, -OREUON NO GROUNDS PESSIMISM FOR . SAYS DAVID LAWRENCE ' By David Lam-cnce Copyright. 1921. by The JonrraU) Washington, June 21. The busi ness situation throughout the coun try present to "government eyes cer tain good and bad aspects. The good consists .of i turn for the better in many, Jlnes, which six months ago were hardest hit, and the bad arises out of the fact that certain Industries which didn't feel the wave of depres sion Iast winter are now beginning to. sag, .-. ., - - ' ' . ', The situation Is not now and never has been uniform. , -No two Industries have -been nit la exactly the same way and at the same moment. This explains the al most continuous flow of pessimistic talk whose undercurrent has been sensed here ever since last December. The only dan- ter In the talk itself is that certain in dustries, which are -on a' sound- basis, may be Influenced to curtail their activ ities simply because of a fear that ,the expansion inadvisable as a matter of principle. PESSIMIST OUT OF Th ACE Therefore officials here are inclined to sound a warning against the accept ance of pessimistic statements for any thing more than a reflection of the par ticular industry or business about which the pessimist happens to be informed. Governor Harding of the federal, reserve board has Insisted in his recent speeches that if the pessimist had done more talk ing last October when retrenchment was being urged by the government he would have been a valuable factor in the read justment But much of the passlmlsm Is beginning to be circulated Just at the time when many Industries are. on the Upward swing and when their progress will be made . painfully slower by the continuous murmuring about bad times ahead. SIMILE FOB ILXXSTBATIO The clearest idea of the business read justment which this country has expe rienced Bince the war is given by one man who uses the simile of a marching column of troops to Illustrate the, march of the industries themselves. The column has been making a right wheel .turn. The troops nearest the center move slowly snd mark time.. These are the industries like the woolen and textile business which were hardest hit last winter and then marked time while they adjusted their labor costs, arranged their loans in bank, wrote off their losses, and then slowly began to move again.- Most of the' trades which suffered in December and Januar-'- are gradually coming back not rapidyi of course, but with suf ficient progress to make the pessimists prediction of "many years of bad times' entirely unwarranted. It has been a mat ter of months and not years, : Just now the jpll and steel businesses are at the edge ef the marching column with a long distance to go to make the complete turn. Prediction-as to when the steel business will have made the turn a fid gotten back into line is a matter of personal opinion In Washington. , There Is, however,, jw. inclination to expect the steel industry to cut wages soon and cut also the price of steel. , Steel was in a prosperous mood last winter when wool and silk and 1 leather were in distress. There has been a decided turn for the better in wool and textiles . and leather, ' while steel Is on the edge of the marching column. The Industrial centers are beginning to feel the readjustment ' pains which six months ago - were hardly felt.- On the other band, the r agricultural regions, which sent out 8. O. 8. ' calls all last winter, are now beginning to see a ray of sunshine ahead. " CHOP OUTLOOK GOOD , - ' Crops have ; been planted at lower costs, Copious rains in many sections of the country have helped. The banks have tided over ' their customers ' and this year's earnings will be applied to pay off a portion of last year's losses. Thus,, slowly,! the; banker will ' be re paid and the I farmer will get back on bis feet. UNIVERSITY MA ' The main i trouble- In - almost every instance has been psychological. The moment orders - have been -canceled, prices : have dropped, certain producers have grown panicky. '.". The" bankers of the nation alone seem to have realised that the. readjustment was both ; inev itable and conquerable.- They - have financed their customers in ways that were , not possible ' except under the federal reserve system. The praises- of the federal reserve act are sung again and again where! the truth" about the last six ; months of American business has been fully Understood. . . RE8EHVE TIDES ALL OVER " - The immense resources of the . fed eral reserve banks resisted the tide in splendid fashion 'and made it easy for one section of the . country: which was in a prosperous condition to loan money to the other without precipitating a general panic in. which all might have suffered. . r, i ' ; '-.' ""--; ,.'5-"" The terjn fconfldence haa been- so much uad that it does not always con vey a strong impression. But the truth is. government officials are as Bure about the turn for the better in busi ness conditions as , they are that au tumn follows! summer. This confidence grows out of the fact that already the views expressed by ther government ex perts last December' have been abso lutely confirmed. - The readjustment has followed the expected lines. The spring revival in . some businesses was more than anticipated. In others it proved that the readjustment had not gone far enough. : Conservative judgment is being expressed about the autumn, but the wise heads in : American industry are making excellent use of the,, summer months to readjust and plan for the march beyond the September milestone. . After all, it seems as if people out side of automobiles take as big chances as those inside.' : FINDS JAPAN IS NOT UNFRIENDLY . By United News) Chicago, June 2 l.j- America, is cherishing a badly mistaken idea of Japan attitude toward this country which is making the situation "dan gerous, according to f Professor Frederick Starr of the University of Chicago, who has just returned from a six months stay in the Far East. Professor Starr" is one of the best in formed authorities in the United States on Japan and the Far East, and haa spent years at different times on the other side of the Pacific "There ; is absolutely and most em phatically no widespread or serious anti American feeling - in Japan- today. he said. "It is a grave mistake for Amer ica to think differently. I never heard an unpleasant word about America while X was there this trip, but the Japanese newspapers are reacting to the stuff our papers are publishing. - The Japanese pa pers naturally reply editorially to some of the things published in this country. : ' "Japan feels hurt at our California policy, of course, but she is making no effort to open the question. Expansion Japan must have, . but expansion east ward is not a live policy. - "There is a restless feeling in Japan that she will have trouble in 1924 be cause of the fact that her wars came in 1894, 1904 and lX4,-.-v,--"--i-'--.'-. "If we" go to war with Japan,' it will be because of the attitude of unthinking Americans, due ; to prejudiced viewpoint of the Japanese attitude."..- Bond Sale Ordered By City Council to Build Boat House -, Sale of $26,000 worth " of bonds from the issue of $200,000 authorised by , vte two years ago, was ordered Monday by the city council in its effort to ob tain funds for the : construction of a slip and fl rehouse' for the fire bo at George H. Williams, at the foot of Ran dolph street. , .v The council voted approval to Com missioner Bigelow's - plan - to - buy ' tow motor-driven fire engines, - some' of . the money to come from the bond sale and the balance" to be obtained by trans ferring sums of money in "various idle city funds. . . , ; ; j Rich Estate Worth $3000 ; - Vancouver, Wash., ; June 20. -Petition to probate the will of Benjamin Rich, who was brutally murdered at bis home in Ridgefleld Sunday night, June S, was filed in the superior court here - today by Charles H- Rich, brother of the de ceased. The property is valued at $3000 and It has a rental value of $120 per annum. The entire estate waa -willed to Charles H. Rich providing . that he care for their mother if she is ever in need of assistance.- e Claim Undisputed, But Police Object to Manner and Place Joe W.' Kelly, clad in an abbreviated undershirt, informed the entire world in general and such small portion in par ticular that was grouped about' the en trance to the Portland Commons, First and Burnside streets, Sunday night, that he was "a perfect Irish gentleman and wanted them to know it, know it, know It," . The police did not dispute his claim.' bat did question 'the expediency of his bragging about it at that particular time. Kelly was charged with being drunk and disorderly. -The police say his ob ject seemed to be to create more noise than a religious Institution across the street. .- ' . y . Woodburn Elects . School Directors Woodburn,- June 21. Thomas Sims was reelected director for three years at the annual school meeting here Monday. A. E." Austin was elected director for one year to fill out the "unexpired term of P. Overton, resigned. K. J. Stansrd was rselected clerk. . v' ..Eagle Arrive at Aberdeen t One thousand delegates front-. ver the state to the Eagles' twenty-first conven tion in Aberdeen arrived Sunday - and Monday.' The city is lively with parades of bands and drill teams, r s Dr. Parrish Asks City to Sue Parent For Hospital Bill Echoes of an assault that came near to culmination In murder were brought to mind Monday when Dr. George J'ar rish. city health officer, asked the city attorney's office' to bring suit against the father of Louise Bender for $147.75 charged against the city by SC Vincents hospital for the girl's hospital expenses. Alvin Benolt, almost a year ago, at tacked Miss Louise Bender as she lay sleeping In he,r room and beat her over the head with a stick of stovewood. H was tried and given a penitentiary sen tence. Miss Bender was rushed to the hospital, as a city charge, but after she a as there Dr, Parrish says her father ordered special nurses and extra treat ment for her, and has refused to pay the bill. - i Y ou know Mrs. Thrifty, whose pic tures we are publish ing in this paper with her handy tins of Alpine; Milk? She is telling you how good milk can be, when it's labeled Alpine. You can know this too, if you say to your grocer ? Alpine Milk, please!" Ask your f.irJW'1 rocr i ir i tor sara. mm mt -m m re .mw mK II jIL r OREGON MILK Keepsyour com plexion clear; soft, delicate. 1 Fine for the bath i cleanses thor ! bughly. f Fairy Soao ! Safest of soaps r for all fine fab rics. . , -: ,- '" - "t Woodwork takes i on a happy new ? ness. Pvnat and whit estperfect ' for babies. fWhat a cake oJ will do - I ' 1 .. , J TT will keep all the hand3 X and faces. in your house hold clean and soft, because of the finest grades of tallow and cocoanut oil used in its manufacture! : It will keep your body clean and your pores open and 'your woodwork clean and spotlessrv j It will cleanse your fine waists and dresses, without injury, because of the lack, of free alkali leaving no deposit in the texture of the ; fabric. t . ... '' , , . . It will keep: you in a pleasant . frame of mind, from morning till' - night, for FAIRY SOAP is one house- '" hold servant that knows its business and' does its work in a soothing, comforting manner j liMt .. FAIRRANK compact i r PURE WHITE ' FLOATING nils ty ns A o jcDte G mUammmummmmmmmm The Name MELOWEST on Every Slice A new name that means mucH to you has taken its place in the realm of nutritious and delici bus quality foods. That name io MELOWEST. 1 -MELOWEST is not a new cheese merely a new name for a fine quality full cream cheese that for many years has been produced in the wonderful dairying sections of Oregon, where ideal conditions the year 'round favor dairying and cheese-making. Nothing but tho rich, full cream milk enters Into and the process of Its maWnc laone both thorouBh and ccleiitific carefully watched and tested at every step . wUUAi4' Pacing the high stankrd ot milk -wmcn is maae into MtiLiOWxiioT Cheese, right in the plants owned and. operated by the Association. So when you "orfer MELOWEST from your grocer or delicatessen, you are sure of a fiTTF-F?P nf Produced by the For tth KSLOWof 4 Your Grocer Can Supply You With MELOWEST OREGON DAIRYMEN'S; CO-OPERATIVE LEAGUE .. - , j, An Association of nearl 3,000 - Progressive Dairymen General Offices, PORTLAND, OREGON, U.S.A.
