Bemidji Daily Pioneer Newspaper, March 16, 1921, Page 4

B34 2 FHE BRSS! DARY PIONEER e ¥ »ifs;e',spendiné by Bfis}ing wisely of those 1 m"uzfi‘nee‘de‘d things for comfort of self and home, thereby bringing business back to normalcy in sixty days. ‘Prices Went Up a Step at a Time—They Can't Come Down the Banister " e : i 's happeni o : int. Theré is nothing funda- SN Sgfi;’c“igi“r}’:":‘fl‘fiz};é‘l}i’]‘(’:f?,”f ?.EJ;? as og,’j{’yd wg;"{"}: D b b counbiy— FROM MEN WHO KNOW— ing strike” to a nation is what a “hun- war is by buying and selling—trad- we have bountiful crops, ample money. ger strike” is to an individual. Busi- ing. And, moreover, prices are down capable heads and.hands.. Y}Sut we e ness is languishing today; and why? L for many corTmodities 'lche;r‘ arehaL ;:;m]’t survéve.a “buying %nkte_ 3:;’::— i 1B, Because demand has fallen off? No, ready down to lower levels than they eless. Business is a gigantic orgar- Xx;jhgg,gfifiggflfigfif }nggiegfwtks sir! Because there is lack of capital should be—things are selling for less ization, kept alive aqd active by ‘gs}:de mal state. We are no longer afraid. We are not indulging to carry on? ' Not at all. The demand ?han they cost to make. That is an coursing through its veins. 1.er\ in the old idea of extravagance, living beyond our means. is there, but you are stifling it. The impossible situation. If you won’t buy trade stops circulating, buS}ness dies. Nor are we troubled so much as we were a few weeks ago United States and Canada have ample the things the other fellow makes, HE Your pazrtu;ular _trade can t_flourish E‘"‘h the %‘f‘;" e"‘”“‘; ‘f Jver pessimis, “&h"l‘.’ fi?"‘e ggz capital, and plenty of labor eager to can’t buy the things you make. That in splendid isolation. The articles you s:gw:[:;l tho..pef";‘x :lgthgn;yt:u E?éoifie,‘}.“ayd:i,‘fisg.’ c?nsay work. is reasonable, is it not? And if he make can’t be sold to men “out Dllvu% this in all candor: We are now looking forward to a year The public is like a moody; prosperous doesn’t buy the things you make, the job.” True thrift is alv}:'ays V‘ilsef,_ e of constructive development. I want to say that intrinsically individual, hanging around the house shutters will soon be up on your place a stubborn refusal on the part of il there is no comparison today with conditions a year ago, : » MANRIE : of business. Those who are insistently public to buy the things they need when there was uneasiness and apprehension among' the best with money in his pocket, Wfl".tmg lots determined to wait until things NOW is simply slowing down the infq;;ned nv:'r the badly expanded credit. ‘Busin'ess i; nm:’r of things, needing l_ots of th}llngs bg: “crash” before they buy are not do- wheels of commerce that feed and ri . s:gle gml;:?c v‘:lleg }:i\:‘ee‘; &:a:{:&;fi;flmm&: m:v: h:x\lre harbring an. obsession shat he won ing humanity a service. For nobody clothe and house us ALL. A + spend his money.till prices come down A’ 7 . pasaed the dangar polnt.. We have & better understand(iy to where they were six years ago. ¢an sell thingg long at a loss, If you are on a buying strike, “forget N Prices didn’t go up in a-day. They can’t The prices of overcoats, ]?}m%s' furni- it”” Go out and buy today l:e thinzl; % come down in a day. Prices went up ture, tires and, in fact,/all other com- you need, for the prices are down. ELBERT H. GARY, New York, Chair- gradually from 1914 to 1919. Prices modities are based on the cost of raw you are \.;;ifing for them to come down man of Board, United States Steel Corporation: “I am went up a step at a time. They can’t material, labor, freight, etc., and prof- further tomorrow or next day or next ;;};°Peg;},3ggoggn;;§e:; of the ffi‘;,‘,",f.;‘:y’m"if.‘éh?:;'o“ any come down by the'banister. They must it to those who make, handle and sell menth, you may not THEN be in a wonder is that they have not been much worse. Conditions come down the same way they went them. position to buy. are abnormal and even the minds of thoughtful people are' up. 4 ¢ , Your livelihood and prosperity are i o i i i i 3 s ¢ 7 R T Reproduced by permission of Smith, Denne & distorted. This, of course, is a result of the terrible time we The reason we were able to finance’ bound up in the livelihood and Dros- . - Mesre, General Advertising Agents, Toronto have ed through, iri determinati : . : 3 to ovz:::md,_. ,,fic':f,tul‘;v,e'},mt‘;,eet;,i:f;;‘;,‘égu:_ ieeination. the war so well was because business perity of other men—you can’t deny * and Montreal. CHARLES M. SCHWAB, New York, Chairman of Board, Bethlehem Steel Corporation: “Out of the present business depression there will come a sounder basis for the nation’s activities and business will go forward with a buoyancy and force we have never known before, as a result of reorganization,...The. whole world, during the last few years, has been a spendthrift and a waster. It has spent a large part of its liquid wealth and has now come to a period where it can go-forward. only by energy and effort of the most vigorous kind. The only business foundations which are sure and steady are erected upon the rock of economy.” CHARLES H. MARKHAM, Chicago, President, Illinois Central Railroad: “There is every indi- cation that we shall enter shortly upon a period of increas- ing business activity in this country, following the depres- sion which resulted from what we have come to designate the ‘buyers’ strike” The revival should have a wholesome reaction upon every line of business which is founded upon a real economic need, as are the railways and the lumber trade. I believe the tide already is turning, .and that we shall see it continue to strengthen during the pext few weeks . and months.” + $ HON. HUGH M. CALDWELL, Mayor of Seattle, Washington: - “The shifting from the old year to the new finds the Pacific Northwest well equipped to face any emergency that may arise. Every substantial business man reslizes that we are in the midst of a period of read- justment that inevitably must run its course as a condition precedent to better business; and whether it runs fast or slowly, the final result will be the same.” “If I can have with me in my work and life the spirit of Kiwanis, with its friendly co-op- eration, I shall have no fear of the morrow. Your motto, ‘We Build,’ is the greatest thing in the world, but we must not only build, but preserve. I have been trying to organize a little Kiwanis club of my own. There are to be only ten members, but I am practicing the very thought which you have in your own organization. I am trying to pick'an outstanc!- ing leader in each line for the ten places in my. Cabinet.”— Warren G. Harding, Presi- .dent-elect of the United States, Member of Marion, Ohio, Kiwanis Club. What is needed in this country more and in the interest of all and for their by “calamity howlers,” but our trou- than any other one thing todayis con- own interest to buy—and buy NOW. bles are lé_zrgely psychological. What fidence—we have the money and the In this way confidence will be created we need is confidence anc_l conserva- resources. The whole world has been and it will stimulate business as noth- tive .opt{mxsm, coupled with the de- undergoing this period of r;adéust- ing else will. iili";n;naltlg:yt(:”gocaa:ea%fl Cg:,n w‘: go as all inflation must be done ? . - everybody umvsgzv’ with and a dollar will then be You should buy from the merchants; pull together and don’t wait for worth one hundred cents. the merchants from'the jobbers; the George to do it :When? RIGHT Labor s beginning to-realize thist a jobbe;s from the mz]mutilactulx;ers. 1’I‘he NOW. - : abor 1s begl A = manufacturers would then be able to PR 5 “day's pay demands a day’s work give employment to thousands of Eeig ufglc]:g“t btl;y’hfgf_?::dt ifipifiigfi and mefl'x.mencyn;:'nd md.xlt;ferenfg, to; workmen and could . purchase their What's the result? Poor busincs, gather ‘with ‘slacidng, Wit no 10060 raw material from the farms, mills thousands of failures, hundreds of be tolerated. Profiteering as pac- . and the mines, and thus give employ- thousands of unemployed, hard times ticed during the high markets will not ment to thousands of other employees, ployed, S ither, v ployees, for everyone. What's the remedy? be tolerated either. - 'and these employees would then buy BUY NOW! Buy your full normal With capital willing to take a reason- from the merchants, and so—an end- pyrchase of the essentials, but-~BUY ! ably fair plt)’olfitt; wfith ]abo:;i yea]lzmg less chain. t if ?ro_u d(zn’t bu%' e;sel:ltials éxp\v,ryou;re its responsibility, all we need is co-op- 8 elping to create business disaster, for eralio£ on-the part of the buying pub- glutrtfi(;:ngirh;:fgzrf“';f;:"f]?; tg:yp::s(i prices will come down with a thud. lic to make business as usual. all that is needed to make business is If you do buy now, pricgs which have Conservative buying should be uni- confidence. The whole world has been already been lowered will continue to versally practiced. Extravagance and thrown into a near panic and we have come down—but slowly and s@tc]y to useless spending should not be in- suffered business depression, and mat- your business and the country’s busi- dulged in. It is the duty of everyone ters have been made infinitely worse ness. EDWARD COOKINGHAM, Port- land, Ore., President, Ladd & Tilton Bank: “As to general conditions, it is quite certain that stocks of goods of all kinds are diminishing rapidly and I look for a better condi- tion in almost all lines of trade and industry in 60 or 90 days. This will be especially so if our present income tax laws are properly revised so that industries will be relieved of the tremendous handicap of the excess profits tax.” R. S. HECHT, New Orleans, La., Presi- dent, Hibernia Bank and Trust Co.: “The year just closed has been one of drastic readjustment. Our principal South- ern commodities have already suffered such a severe decline that it seems reasonable to suppose the readjustment to new price levels is nearly completed and that the worst is probably over. Certain it is that whatever fluctuations we may have ffom now on will be within much narrower limits, and some hope{ul signs for an improvement are not missing."” M. JUSSERAND, French Ambassa- dor to the United States:¥ ‘“The light of day is in front of us, gloom behind, Firsty the bleeding, ravaged, heavily- laden, victorious nation ofFrance, like yours, has the right spirit. Thankful for dny help that may come from abroad, and much has come from America, causing a gratitude which will never cease, she intends to save herself to the best of her ability, and she will; she lhas already begun.” CHARLES H. SABIN, New York, President, Guaranty Trust Company: “Those who are most closely studying the existing situation feel that the turn of the tide in declining prices and liquidation is very near. Al- though there are many readjustments from the effects of the war yet to be made in the months and years to come, they believe there is a reasonable assurance of a return to nor- mal business conditions, stabilized prices, easier money and larger business opportunities.” O e SR J. Mercer Barnett Canada under the auspices of <\ / PRESIDENT, the Local Kiwanis Clubs. ’ Y, KIWANIS INTERNATIONAL CLUB OF BEMIDJI, MINN. Garlock, Dr. A, Surgeon, Eye, Ear, Nose and Lycan, R. B.. F Throat. Marcum, W., Marcum, Dr. TR T e T T T T A P % Goughnour, agy 3 X Life Insurance. i I\P)(V;nlgg‘;.‘ Harding, G. Theater. Nay! . Electric-Retail Dealer. . Harker, R Huftman, C. hn, Cedar ughes, tor, M., Public Utllities. errard, ¥ . Oil Company. #., Traffic Manager, Cx. Lumber Co. Jewett, € Automobile Dealer. » Chiropract='. E Lumbermai, Veterinarian. JJohns County”Offfeial. s, ery. R al Estate. ., B. perintendent Crookston Lum. Co. Vendersluis, W.. Stite Dank: Bottling Works. Warford, Rev. L. P, Minister, ‘holesale Flour, Feed and Grain. K Whaley, 0. ving Picture Theater Manager. Merchant Tailor. Whitm: Department Store. . Gas Manufacturer. Wilson, §. §, Ladies’ Ready to Wear. AR 2 = - E = =5 = = = = S = = = Sl