Show WHAT HAT OF TIlE TILD I FUTURE By y E E. R R. R History repeats Itself today in inthe inthe the rec reconstruction period of n na nations nations na- na as amply supplied with natural al resources as our United States as surely as It has in the p past st st. This s statement is 18 no longer a guess and while our problems of reconstruction tion today are greater in number In that they involve the channels of trade in nearly every part of the world our economic economic- system in this country has ha tax reached such a degree of efficiency that there can be no question about the ultimate ana and speedy outcome In giving our reasons for tor the faith we have in business returning soon to the level of 1914 we want to liken the present situation or that up to thirty days days' ago to some particular locality which had for i iy y years enjoyed a steady progress solely solely solely sole sole- ly from agricultural and other dependable dependable dev de de- v resources r resources so but which after atter a number of of years experienced a false Calse boom boom from the discovery of or oil sufficiently t to attract the attention attention attention atten atten- tion of wild promotions During the testing period of this locality excitement was everywhere new enterprises enterprises enterprises en en- sprung up everyone was WilS eager to go his limit in investments in order to get his part of ot the easy money heavy financing was done on the strength of what seemed to bean tie be an ever increasing business and se security security se- se values However r in the course of ot time It developed that oil cou could not be produced In quantities sufficient sufficient- to f further urther expense of drilling and the false resource upon which tho the entire entire- locality has had based Its hopes of at bigger returns had abandoned the field throwing th the entire population loA back to their agricultural and other tried and dependable resources resources The TIle conditions through which we we ha havo passed since 1914 can can well veIl be be liK likened ned unto the the above w We left lot sound war pre war pre n conditions ns n's in in- 1914 flourished abnormally during during the ne I war war perl period d farmer laborer stockman stockman stockman stock stock- man merchant bank and and andin in fact ev every ry li line e of ot business ss activity a alike i made what wo wo we at t least how now ow look upon upon as easy f money money l mey However inthe In fn Inthe th the cours course of at time it ft developed th that lt cOI conquest conquest could o ld not of be gained sufficiently sufficiently for tor Germany to continue I further In the slaughtering of her hermen hermen I men and the waste of at her finance decided she was beat and had under under- taken a venture that had failed railed She fane abandoned abandoned the field she she went yent Into take take and now now th the world lias has be been n thrown back on onto on tO to its natural i tural and J normal resources s hr es The above example of an an n over- over boomed o oil l field is in no way intended intend intend- ed d as a reflection on the oil possibilities possibilities s in this section or on that of at any any other prospective fie field d. d Nature has provided ne necessary essary and unlimited unlimited ml- ml t ted d res resources s' s of varJo various various- s kinds and there should be no hesitance on the thep p part rt of ot any co commercial l en enterprise in encouraging th the legitimate development development devel devel- I of th them m. m The fact Is as It ft was was In the imaginary Imaginary Imaginary Imag Imag- inary example above we we have bave had to and are coming back t to normal al conditions con con- con conditions on- on and while some commodIties commodities commodities ties have ye yet some distance to go to reach pre pre- war pre ar l levels vel trade rade channels channels are comm commencing to c circulate through throughout gh out the world and every month indicates in indicates indicates in- in some change In conditions Therefore just as surely as as' as we have had to fall back on our dependable resources with our normal prices not far distant we are going to wake up some som morning ln In Ju June e anu find the head lines In hi our papers In Indicating Indicating indicating In- In a marked change in general general genera conditions locally in this b basin as aswell aswell aswell well as throughout the country gen gen- Some difference of opinion prevails as to the various reasons for seeing b bright ight prospects nearing We must face a few more serious problems problems prot lems before we have fully reached reache normal but when we realize they arc Inevitable and a part of the reconstruction reconstruction recon recon- work we should only hope that we might cope with them soon and bury them In the archives s of our minds The very fact that tha these problems are coming up now now and are being disposed I of ot one b bjone bj by one i is th the most ost encouraging feature feature feature fea fea- ture I in con connection connection with the the speedy to normal and this tots believe return we form the the basis of or sou sound d argument Of ent it in iia favor of brighter prospects s by bythe bythe bythe the middle middle of ot of this summer The first big problem to solve Is the reparation to which Germany is the allies alUes and which will wll have t td be be settled d before eCore the channels chan channels lan lan- nels of oC trade will be permitted to t f tuly l On this this speedy settle settle settle- mant depends a great deal o or of our reconstruction process and a as there t has now no been a decisive action tak tak- enin this step there Is every catton cation that there her will vilI be no further parleys barleys as to the disposition of this obstacle O While there Is danger Insight in insight insight sight In a general strike of liean fhe be jail jail- roads roads as a result of the the reduction in to wages of skilled as well as unskilled unskilled un un- un- un skilled labor w we have c confidence confidence n ld In Inthe Inthe inthe the pres present nt administrations administration's rations ration's ability to cope with this situation situation just as we had in the past administration when a a similar attempt was ma made Ie but failed A big percentage of the labor at this time Is becoming re- re to the fact that It Is for their own welfare that they should submit to a proportionate reduction redaction in wages and salaries to the de cc- decline cline in living expenses and that under under under un un- un- un der the process of ot reconstruction there is but one ultimate outcome of this question that the reduction shall take place at once and sufficiently sufficiently sum sum- to to enable the railroads the main arteries of our our commercial system to continue to circulate in a n healthy condition With the reduction in the rail wage will Immediately follow every industry Industry Industry Indus Indus- try In the country that has not al already already at- at ready made the move and by that time there will vm be sufficient inducement induce induce- inducement ment together with a for for the tho revision of the pr present sent system of ot taxation for every Industry in the country to operate fu full l time and without fear of or having to donate all profit over and above a n m mere re existence existence existence exist exist- ence to that from which the they cannot cannot cannot can can- not see direct returns While the Industrial and aud livestock livestock livestock live live- live live- stock markets are fluctuating there Is In this this a marked indication of at of an upward trend in prices and every reason to believe that prices will not fall tall below the present level Grant that this is true the margin on livestock f ck with with other normal ormal prices will be j just st as much w with th L yearling feeder steers at a steady figure of ot 2500 to per head as as was eighteen en month months ag age when the bottom of ot the price was WilS ready to fall tall an any mo moment ment While the price of t the new ne clip cUp of ot wool this thIs- spring Is yet In iii the main an unknown quantity offers otters of advances advances ad ad- vances on the new clip cUp have been made In amounts sufficient to provIde provide provide pro pro- vide for tor the she shearing expenses which throws a brighter light on the 1110 wool situation L Last st but not least the sweeping victory of the new administration Indicates that a big majority of or our population is heartily in accord with the principles les of ot of the present government and that the confidence shown by this has brought about a psychological l effect that Is unquestionably unquestionably a factor In in th the speedy adjustment adjustment adjustment ad ad- of present conditions We must satisfy ourselves on this that that the process of ot reconstruction must b be met console but but console ourselves over the fact fad that it is s well under way and that there remains yet yett problems that must be adjusted they are sufficiently under way to have relieved thO the financial stress In the east to a a considerable degree Optimism Optimism Op Op- Op- Op and conservatism can well wel go hand In hand when wheat rightly ap ap- ap- ap plied Therefore while while- we should practice cons conservatism we should no noat not at this time hesitate to preach optimism op op- op- op from every hill top 0 0 |