Evening Star Newspaper, January 2, 1924, Page 15

HOOVER AND DAVS FORESEE GOOD YEAR Cabinet Officials See Odds in Favor of Prosperity for America. IABOR MORE CONTENTED Commerce Secretary Reviews Con- ditions Abroad. \ That the “odds are favorable for 1924" and that the American worker has completed a vear of unexampled pre sessr, were opinions voiced by Sec- retaries Hoover of the Commerce De- partment and Davis of the Labor De- partment In New Year's statements vesterday. Secretary Hoover said, in part: ©ddx Favorable for Year. Secretary Hoover declared that, con- sidering all factors which make for business prosperity, “the odds are favorable to 1924 He said, in part: he economic outlook for our own country for the next vear is bright. In general the world situation is hopeful. The gene spirit of pru- the absence of speculation, complete employment, high produc- tion and the great financial strength and stability of the important states in the western hemisphere, together with the p e of the early confer- ence for systematic consideration of constructive solution of the world's eatest economic menace—Franco- Tman relations—all create a_ hope- ful foundation on which the new year may build. The decreased consuming power of Germany and of the states most af 1 contributed the low- of food products in the and other food-export- The decrease in her steel and coal production at first gave some stimulus to the production of jes, but this is now offset by decreased buying pov ¢ pressed area for other commodities. One other cffect of importance has been the undoubted substantial flight of capital from ma of the states in this area of depressic States, resulting in further excessive accumulation of gold here. The eco- nomic world has not yet felt the full impact of the occu on of the Ruhr. Were it not for the hope inspired by the initiation of negotiations for set- tlement of the German problem the situation would be most uncompro- mising for the future. Progress in Russia. “Russia is slowly making progress with the inch by inch abandonment of communism and socialism. War has The Iy approaching sound projects for stabilization of budgets and currency. China is stll disturbed politically but her commerce is maintained de spite of it. The Japanese disaster has had less effect upon her econom- ic stability than many anticipated and has furnished ne proof of the great strength and courage of that country. Latin America is_steadily increasing in productivity but cur- rency conditions in some instances leave much to be desired. Except in Mexico there has been a steady in- crease in political and social sta- bility. “Our own country ha more freedom from dep: pean economic influencs han most others. The explanation lies in the fact that although our exports are of profound importance less than 6 per cent of our total productivity is ex- ported and of this only about one-half %o Burope. The proportion of differ- ent products exported to Europe of course varies and Buropean condi- tlons, therefore, have a fluctuating influence upon _different industries. As le than 1 per cent of our manu- factured products find their market in Europe the direct effect upon these industries is more negligible than up- on certain agricultural products which are much more dependent upon Furopean consumption, such as wheat and pork products. and we endure both economic and political reactions at home from this latter fact. United States Has Good Year. “In 1923 the United States has wit- nessed the highest total productivity and movement of commodities since the war, with full employment, high real wages, greatly increased savings, large additions to home building and the largest increase of railway equip- ment since the war. The whole has heen accomplished by a remarkable absence of speculation, consequent overaccumulation of consumable goods or dangerous expansion of Credit. As we are not in a boom we can expect freedom from a slump. Some secondary interrogations can be raised as to the effect of the ex- pansion of installment buying of con- sumable goods, the acute suffering in the northwest agricultural areas, the increase on stocks of some commod- ities and decrease on some advance orders. These items are sma)l com- pared to the whole industrial fabric. Taking the country as a whole we rever in history have enjoyed a high- er standard of living and comfort, nor so great a degree of commercial and industrial efficiency as today, or =0 wide an understanding of the forces which control the ebb and flow of business. AS severe as the situa- tion Is in the worst of the agricul- tural states, yet the disparity between agricultural prices as a whole and industrial commodities is gradually lessening and the economic balance is tending to right itself. “A more detailed examination of our own situation, based upon the first eleven months, and some (later data, indicates that our foreign trade will 'show about $£,100,000,000 in ex- ports and about $3,300,000,000 in im- Dorts—an increase of 7 per cent in shown a ing Euro- —because the coming-on of a cold in the head irritates the delicate mem- brane lining the nose. This induces s local nervous co‘vulaion, ‘which ex- tends to the lqng nd causes a violent: qulaion of air. Follow up that sneeze wil PSS TR Tablets and let them hels ex&el the dangers that lurk in a cold or the grippe. Absolutely true aspirin, ta' ‘ets so ully made that their beneficial action begins in 15 seconds. Highest purity, never: irlr)nutlte or burn. e retest preparations. Every item the best that skill and conscience can produce. 3 and all g other Rexall Drug Stores L S U — n to the United |3 Greece and | the former and 20 per cent in the latter over 1922, The merchandise balance will be. about $300,000,000 in our faver, ; “Price levels maintained compara- tive stability. Wholesale .vi’rau prices of all commodities declined about 3 per cent for the year, and stand 52 per.cent above 1913. Avar- age prices for ground crops increased 15 per cent, while live stock declined about 7 per cent. Retall food prices increased during the year about 4 per cent and the Labor Department cost of living index would show an increase of about 4 per cent. National Debt Reduced. “The national debt has been re- duced about $1,000,000,000 during the year; bank deposits to individual ac- counts remained about the same in New York, but increased nhoule 12 Der cent in th> rest of the country. The money circulation apparently in- creased about 6 per cent. Member banks show an increase of about 6 per cent in loans and discounts. The reserve ratio is about the same 1 year ago; that is, about 76 per Savings increased about 10 per c and life insurance sales about 22 Parcent g The financial items, there. fore, show®a general parallel with in- creased production without inflatiqn.” Secretary Davis sald: The American worker today has completed a year of unexampled pros- perity, and he faces a vear f With hope for continued progre: betterment. Both workers and em- ployers in the United States are bet- ter off today than are workers and employers anywhere el Everywhere, except In this itical and economic disturbances have hampered industry and o merce, and in America we are mo steadily forward in indust jand harmony. In Europ gling with the baneful itage of the war, millions ar employment, factories are closed and industry lies dormant in many sec- tions, while in Americ unemployme due almost tuations in stry. are low, and in some countries work- ers are receiving a wage which gives them a mere subs our wage level Is almost at the peak. “Both workers and management in ina are gaining steadfastly in the movement toward complete co-opera- tion, in the realization of their mutual interests and mutual responsibilities. to be noted with satisfaction on t ew Year day that while there are pending in the concillation service of the Department of Labor between fifty and sixty disputes between employers these d aller number of men than hav involved in pending controversies at Imitations may be dangerous ‘When you see the getting the genuine Bayer Colds Pain Headache Toothache Bayer Cr Neuralgia Neuritis > Accept only “Bayer” package which contains proven directi8ns. Handy “Bayer” boxes of 12 tablets Also bottles of 24 and 100—Druggists. Aspirin is the trade mark of Bayer Manufacture of Monosceticacidester of Salicylicacid any time in recent years. There is to be mnoted, too, a growing tendéncy among both men and em- ployers to resort to conciliation: and mediation in industrial controver- sles before such disputes reach the stage of open strikes or lockout, More and more of the disputes laid before federal commissioners of concillation are brought to their attention before production has been suspended. “Without fostering and extending this tendency toward co-operation we cannot hope for a continuance of that prosperity which ha# bleased American industry and labor during the past year. We must put forth every effort to keep worker and em- ployer mutually satisfied, in order that their exertions may be mutually prosperous and that their prosperity may redound to the best interests of the country as a whole. Unless this is done we shall lose all that we have gained, and face the perils which have engulfed other nations during the last few years. “American labor has, completed a happy and successful year. With the worker and the employer operating in amity and co-operation, we may hope to move forward to another period of peace and prosperity. Get Two Trial Boxes PAZO OINTMENT is a Guaran- teed Remedy for all forms of Piles. Pay your druggist $1.20 for two boxes of PAZO OINTMENT. When you have used the two boxes, if you are not satisfied with the results obtained, we will send $1.20 to your druggist and request him to hand it to you. ‘We prefer to handle this through the druggist because his cus- tomers are usually his friends and will be honest with him. PARIS MEDICINE COMPANY, St. Louis, Mo. *SAY “BAYER” when you buy- Gonuine ’ on tablets you are Aspirin proved safe by mil- lions and prescribed by physicians 23 years for Lumbago Rheumatism Huntingand Fishing at SAN ANTONIO Days of glorious of this wond Fishing in beas sportsin the hillsand lakes erful Texas playground. utiful Lake Medina, near San Antonio, and a thousand feet above sea level—gaid to be the finest black bass fishing grounds in America. Duck hunting on the Davy Crockett. ! lakes and in the Gulf of Mexico nearby. Camping on the mountain sides or bathing and boating in crystal clear waters. A health- ful out-of-door-life all winter long. San Antonio is always interesting as well as delightful. Here are quaint old cathedrals and missions, landmarks of ancient Spanish days, and the famous Alamo, the fortress of Beautiful parks and plazas, good hotels and true Southern hoepitality are other features of this charming winter resort. San Antonio is conveniently and comfortably reached via the . Southern Pacitic Lines Write today for full information Chamber of Commerce San Antonio, Texas © OR A.J. POSTON, Gen. Agt- Southern Pacific Lines 165 Broadway, New York Toddling Tots will be accorded the same unfailing in each A & P store that you receive. service Dry-Cured SLICED $ BACON | 9c Ib. 1c SALE We have a large, fresh shipment of sweet, - Gl S Cral]bel'l' ieS 2“”" 190 PRUNES —to be released for sale at 7 am., Thursday, Jan. 3rd Del R AlSlNS 2 2 3 at a special price of . pkgs. C 12¢ ver . 2 Bs. 13c i : PURE 21 LARD 31c The Heart of the Wheat—a delicious breakfast food as well as a healthful tissue builder. WHEAT FARINA 33c CREAM OF WHEAT.....................pkg. 21c ik 'EVENING STAR, WASHINGTON, D. C, WEDNESDAY, JANUARY 2, 1924 i 5 ! '“‘,}‘?a;" - There is an af- mosphere of friend- liness, an attitude of courteous atten- tion awaiting you. Stop at the A & P store near your home. By fol\owing market conditions closely, we are able to offer Fancy Healthful, Nourishing California Their quality is backed by the brand-name. Delicious creams, |lona Tomatoes, No. 2 can’ (Standard) fudges, pepper- |Sultana Broken Sliced Pineapple mints, nut bars A&P Peas (small, sweet, tender) 4c Each [Reliable Corn Golden Bantam Corn Another New Year Feature ; SUNNYBROOK STRICTLY FRESH BOKAR EGGS, 63c¢ Doz, == for a finished breakfast Each one is guaranteed and'the price is right 37(: Ib. UNEEDA | “coies i svred” 2 pkss. BISCUITS| 17¢ n. 2 vhes. 9 | Mo e R Swiss Cheese 55cLb. flavors to retail at Waldorf Kraft’s Toilet Paper 3 &% 25¢ Kirkman’s Borax Soap 2Cakes]1c 9, Armour’s Scctt s wee S | MACARONT |Gier 47 Or . | SPAGHETTI | Bytter 4 vkgs. 25¢C |, ot ere Buster from the best pro- ducing centers of Borden’s Evaporated MILK Washington FLOUR Lowry " Delicious Eating ’ - 22¢ e ATLANTIC & PACIFIC . (et Q0 stores in the U.S.A Over 85