MEDFORD MAIL TRIBUNE. MEDFORD, OREGON. FRIDAY, MAY 29. 194
PAGEFTVB
Booms and Depressions
Babton Discusses These Uncertain Timet
Babson Park. Ms-, May 2b. The economic life of the United
ite differs Ut"e from our own personal lives. Both are char
acterized ry tips and rU.v-ns. Wars, iand speculation, agricultural
iipeK. tariffs, foreign relations, mergers, pump-priming legisla
tion, labor unions, and ether good and bad factors have all played
a part in the pivrerlt or in the decline of our country's affairs.
When the war will end, and whether we shall have a post-war
slump or wr.elher bcom times will continue, no man can now
soy. By another stx months, however, the entire situation should
be .nuch clearer.
I :
Look Backward Gives
Hint oi the Future
My life has been spent in look
ing forward. I have continually
tried to anticipate coming
events in order to preserve my
economic independence. Due to
a praying faiher and mother, I
have looked upward for guid
ance in my personal affairs and
when advising others. Such
success as I have had has come
through my early recognition
Tf the practical values of the
vl unbeatable combination of faith,
Industry, and intelligence. .His
tory certainly repeats itself and
often is a dependable guide.
Hence, let me briefly review
some of the events in our na
tional economic experience in
the order in which they have
'appeared to me. My father was
born in the depression of the
80' from which the Civil war
pulled us out I was born fol
lowing the long depression of
the 70 s which was caused by
the collapse of railroad and
farm speculation and paper cur
rency. Resumption wf gold pay
ments, the great rise in immi
gration, several notable inven
tions, and complete freedom for
enterprise finally brought this
depression to an end. Some
years of prosperity followed.
(Sraiy Politics
Cause of Panic
This prosperity was brought
to an end byxrary pontics wmcn
led up to the panic of 1893.
This constituted my first indi
vidual contact with hard times,
For some years a severe agri
cultural depression existed
which was aggravated by the
Bryan campaign for free silver.
In 1898, however, business got
another uplift due to the Span
ish-American war. Almost im
mediately a boom followed dur
ing the so-called merger years
when our great corporations
were formed.
For a while both business and
the stock market boomed. But
antitrust scares, high finance.
and the European collapse in
1914 brought about another
period of depression. And then,
Just as now, we got Into World
Jlwar I and a period of great war
''activity followed. This lasted
until the armistice In 1918 when
for a year or more the volume
of business sharply receded.
The rise of the automotive in
dustries to major proportions
and the resumption of foreign
trade gave us, however, a post
war boom of eight years of
building and general expansion.
This resulted in the "New Era"
psychology of speculation. Stock
prices rose to astronomical
heights.
War Boom Braked
By Regulations
. The rest of the story is his
tory within the memory of all
readers. We all recall the col
' lapse of the market and busl-
TRAILER CAMPERS
ENJ0YPR0GRAMS
Recreation Tent -Proving At
traction With WPA-Di-rected
Social Activity.
ness In 1929, the long years of
internal depression, of unem
ployment, and of deficit spend
ing. It took about five years
for New Deal pump-priming to
produce a rise in business
volume. As to how long this
artificially-created boom would
have continued, no one knows.
At any rate, the nasi wart came
along to plug up the business
leaks.
Now we are engaged in an
other period of rising business
volume and living costs with in
flated wages and full employ
ment all associated with boom
times. For the time being,
however, these factors are tem
porarily being held back by
war scarcities, priorities, regu
lations, "forced" savings, brakes
on installment buying, and
other edicts from Washington.
Our boom has come through the
creation of our enormous arma
ment industry. This has been
large enough to absorb the en
tire automobile industry, the
manufacture of many consumers
goods, and other forms of busi
ness activity.
Hard To Say
What's Ahead
Tills short summary of the
past 100 years shows that with
all our wealth, legislation and
brains, we have found no pre
ventative for business depres
sions. Government spending Is
now approaching 133 million
dollars per day. Soon it may
be 200 million. The effect of
this upon business and stocks,
in spite of taxes, should, before
long, be bullish. Even after the
war ends, we must continue to
arm. We will rebuild much of
the property of the world that
war has destroyed. New indus
tries, led by plastics and chemi
cals, have a great future. Fur
thermore, air express, freight,
mail and passenger transport
companies may cause a great
new foreign and home trade
which, in event of a post-war
slump In other lines, can again
put us on our feet.
But why continually resort
merely to war or other material
things to pull us out? How
many more depressions will it
take to teach us that only a
spiritual awakening will pre
vent these unemployment
slumps from repeating? The
younger generation is daily
proving in their sacrifices that
they are far from soft The
least we oldsters can do Is to
preserve their heritage and
make sure these younger minds
are governed by the right spiri
tual motives. The set-up today
and for some time to come,
economically, politically and
spiritually lies up the alley of
our children and grandchildren.
I am confident that our future
will be safe and profitable only
if they wiU put God's Will first.
Dm ftlall Trtbun want aaa.
People of the Jackson county
trailer camp are responding en
thusiastically to the program of
recreation activities being or
ganized in the trailer camps
under leadership direction of
the Work Projects administra
tion defense recreation program.
Mrs. Marjorie Pena is super
visor for Jackson county and
Miss Margaret Achterman Is re
creation leader for Jackson
county trailer camp.
A recreation tent has been
erected under direction of Lloyd
Rupp, chairman of the organ
ized labor recreation commit
tee, and contacting of the in
habitants of the camp was done
by Mrs. H. Baum, Mrs. Johanna
Remick and Mrs. Cora Kenny.
Last week there were several
dances, an evening of com
munity singing led by Mrs. Eve
Prentice and her accordian
band, and an evening of enter
tainment by Mrs. Alexander and
her Hawaiian band with pic
tures of Hawaii and the Philip
pines shown by Mr. David D.
Roberts with comments by Mrs.
Roberts.
Mr. Le Sufur, recreation
technician of the WPA state
staff directed an evening of fun
and dancing. A loud speaker
was furnished for the occasion
by Fluhrer's bakery.
Last Monday a variety show
was put on by camp talent, Mrs.
Clymer, Johnnie Gibson, Mrs.
George Le Baun and Don
Phelps.
Women of the camp have
held several afternoon meetings
and are planning a variety of
activities. On Wednesday. Mrs.
L. G. Gentner, Mrs. R. T. Nichol
and Mrs. Dee Hendrlckson of
Medford Garden club helped
organize a garden club; officers
were elected and plans made for
beautifying the camp.
On Monday at 1:30 the worn'
en will meet for a first aid class
under direction of the Red
Cross. This work will be car
ried on for the next four or
five weeks.
Coming events include:
May JB Evening of music
arranged by Mrs. Purucker of
Baldwin Piano company.
May 31. Entertainment by
Mrs. Prentice and accordian
band composed of children
under 12 years. This program
will be broadcast from the camp
recreation center.
June 1. Mr. Whipple, well
known magician, will put on a
snow.
June 3. Mrs. Olive Floyd
and a committee of helpers will
direct an evening of fun and
games.
Recreation activities are being
planned for all age groups In
the camps. Play activities for
the small children games,
hikes and special events for the
old children, such as puppet
shows and hobby activities.
13 8TH GRADERS
PROM LONE PINE
GIVEN DIPLOMAS
Thirteen participated In the
eighth grade graduation exer
cises of the Lone Pine school
Monday evening at the Roxy
Ann Grange hall. The program
opened with the Lone Pine or
chestra playing "Graduation,"
"Lawrence Overture" and "Gol
den Rule."
Russel Rose was aalutatorlan
and Geraldine Thomas present
ed the valedictorian address.
Leon Smith read the class his
tory and Dwane Lehman the
class prophecy and Gladys Jones
the class will. Guest speaker
was Don McKenzie from Med
ford Junior high school and di
plomas were awarded by Carl
Quackenbush.
Gladys Jones played a clar
inet solo and the string band
presented "God Bless America.'
At the close of the program re
freshments were served.
Graduating were Betty Lou
Allison, Gladys Jones, Cleve
Kendall, Dwane Lehman, Dalton
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Lemley. Joyce Morgan, Learoy
Price, Russel Rose, Betty Alice
Stoffer, Geraldine Thomas. La
Verne Yocum, Leon Smith and
Clyde Wright.
In behalf of the P. T. A., Mrs.
L. S. Lehman, retiring president
of P. T. A., expressed apprecia
tion and thanks to Mr. Webb,
principal, who will not return
during the coming year, and also
to her officers and members for
their cooperation.
Nearly every bomb shelter In
Malta Is equipped with electric
lights and radio.
Cioslnf Urn (or Cluind Ada 0
. m Too lata to CUMlfr U SO
SALEM WOMEN FORM
ENTERTAINMENT GROUP
Salem. May M.") Salem'a
new Hostess League of Women,
authorized by the City Recrea-.
tion commission to provide en
tertainment for service men,
was organized here last night.
M. M. DEPARTMENT STORE
New Store Hours!
Friday Night we will dote at 6:30 and will be
Closed all day Saturday Memorial Day
BEGINNING JUNE 1st
OUR STORE HOURS WILL BE
9:30 a. m. to 8:00 p. m. Week Days
9:30 a. m. to 8:30 p. m. Saturdays
M. M. DEPARTMENT STORE
a
' , ' V
-s w ir e
Ihis country is engaged in the business of winning
a war. It is a serious business, affecting the lives and
works and plans of all of us.
Day by day, wartime conditions raise new problems
in the making and selling and using of goods. Day
by day, advertising is called upon to help meet
these emergency problems. And by its very nature,
the newspaper is better equipped to serve adver
tisers and consumers today than any other medium.
rjijf-- The speed and flexibility of news
papers, more valuable today than ever
before, enable an advertiser to meet the
swiftly changing market conditions of this emer
gency, when and where these changes occur. In
newspapers, an advertiser can deliver the right
message in the right markets at the right time. In
no other medium can an advertiser fit his message
to current emergencies so quickly and effectively.
The coverage of newspapers, more
tomuicio luuay man ever Dcrore in- rar vi
eludes all the people an advertiser
wants to reach. Executives, retailers, consumers...
everybody who should be kept posted on a com
pany's wartime operations. ..can be reached
through this single medium. (The latest official
ABC reports show newspaper circulations at an
all-time high.)
Sealer Interect in niimmiwn tnnra
f i m -? " -
iQj intensive today than ever before, as
sures an advertiser of even closer atten
tion to well-executed newspaper ads than in the
past The Continuing Study of Newspaper Read
ing shows that war news in the headlines meant
more careful reading of the ads; that the more im
portant the news, the more thoroughly people read
the whole paper, including the ads. Today, more
than ever before, people realize that the ads are
newt, too. ..timely news that gives them valuable
advice, saves them time, energy and money.
The efficiency of newspapers, more
important today than ever before, gives
an advertiser a more economical, waste-
free delivery of his message than any other medium
can offer. Advertising economy Is all-important
these days, and can best be effected through the
marksmanship of newspaper advertising.
these and other advantages, each one accen
tuated by wartime business conditions, male
newspaper space the one medium which It
completely geared to today's needs. That's why
the makers end sellers and buyers o! goods
are finding newspaper advertising to service
able and so valuable today.
fa Tie Bureau of Advertising -fa American Newspaper Publisher! Association vr o which this newspaper 1$ a member ir
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