HEAR PENNEYS PENNEY'S VIE ViS ViSON ON ECONOMICS S Chain Store Founder in Salt Lake Tells of New Basis The general economic structure of ot the country has found a a. new base and that base is a a. sound one ne J. J C. C Penney founder and chairman of the time board of t the J. J C. C P Penney Co declared In his address before the Kiwanis club Thursday at the Hotel Utah He spoke on Our Changing I Economic Structure I This new economic structure he said provides provide f for r national expenditures expenditures expenditures expendi expendi- tures at a a. rate equivalent to that which existed for a long Icing period prior to the deflation of the market values of or se securities securities' ui The drop In Inco co commodity prices such as s foods clothing and similar items reveals the interesting fact that sales volume volume volume vol vol- vol- vol ume b by items Hems of oC merch merchandise Is in increasing increasing In- In creasing rather than diminishing I said fald the speaker r. r MERCHANTS HOLD KEY Retail merchants Penney declared de dc- dc- dc hold t tho key to tho the economic economic eco ceo situation and nd It will b bo good business judgment so to organize the tho business of retailing that the they ma may keep keel the reins In their own hands The retail structure of oC the country will be bo the force which will glean the tho benefits or suffer suiter the consequences consequences consequences con con- sequences of ot our our present economic conditions that the The speaker predicted end endot of the year ear will reveal a money volume or sales eales not far below last year and that tha In some instances the figures 8 will exceed those of 1929 1029 OPTIMISM SHOWN Only a few months past I tl tray trav traveled through thi-ough the south and southwest southwest southwest south south- west vIs visiting lUng merchants newspaper publishers and others in many cities clUes and towns ranging from OOOO to I 1 was surprised and pleased with the spirit of or optimism which I found In practically everyplace every place 1 I visited The retail merchant in man many ways is very er close to the life liCe of ot othis his community It If be he is working along the right lines he is working to improve that life lire every way he can Present day business conditions conditions conditions condi condi- make this a matter of ot wise business policy