Salt Lake Telegram | 1936-10-01 | Page 6 | Best Year since 1930

Best Year Since 1930 I ITS ITS TS close contact with every form of ot b business iness JL enterprise enables banking to speak with convincing convincing con con- authority on business conditions in the United States The official publication of the American Bankers' Bankers de declares lares' lares in Jn its current issue that to date 1936 has been 1 the best year since 1930 This positive assertion is 13 made inde as the last quarter of the year is entered emphasizing that business goes into the r S final period confident that the recovery curve will continue to ascend during the autumn J. J months The Them magazine commenting on the expected ex ex- ex c seasonal contraction of th the the summer months ls' ls basic improvement held its momentum and anticipates higher production and consumption levels leveIs S An important thing as this summary of conditions conditions con con- is assembled is that recovery this year has progressed without important interruption This point was made by b Paul Mallon in his presentation of ot business statistics published in The ne Telegram or err orr this page Wednesday The gain hz has been wen well distributed among amour amon major maior sections S of OZ the co country's tT industrial fabric the ne 1 principal exception being agriculture which had to contend contend con con- tend with a serious drouth Many business men would be better satisfied satis satis- satis tied fied i if ii they felt that the good times tines had arrived without the inflationary pressure of government 5 spending on an unprecedented scale and arid if it tax consciousness were not so a acute ute The of ot S. S recovery can hardly obscure its cost Banking's r article continues It finds evidence that unemployment unemployment S is decreasing and considerable reason S S to believe that the tha actual number of employ emPloy- ables out of ot work is much below current esti esti- mates Increasing dividends of corporations continue continue con con- to give support to the market for securities securities ties tics and contribute to the general optimism S Rearmament inflammatory speeches the restlessness of ot nations seeking territorial expansion lion sion and more specifically domestic unsettlement unsettle unsettle- ment meat in France casting shadows on the future and Increasing the difficulties of international internationalS i S economy are noted but foreign affairs have not 1 S. S Interrupted the trend of American business At AtS S J ft home borne the election campaign has not on the whole affected business it observes S Of the tha prospect of a federal budget deficit deficitS S In the current fiscal period substantially Y as great S as that for the year ear which closed in June an an anS S unfavorable factor is found So 50 also is theS the S prospect of continued uncertainty in some lines theS S of business resulting such government regulation as the Robinson-Patman Robinson act whose whoso effects are arc yet to be demonstrated and whose provisions are yet to be construed Banking S S jf says Business still realizes that sooner or later i it will be bo called upon to pay the bill for current curU cur cur- U i rent expenditures and this unc uncertainty in regard t V. i to future taxes is a deterrent to new commitments commitments commit commit- ments in some lines it is remarked S r v On the whole thoughtful people in general generalS general'S I S 'S and especially men o of oZ responsibility in the whole S business fabric of the country must find the A conditions reported in this cautious and clear clear- seeing business busine publication such as to reveal t symptoms of confidence that has returned re re- re turned and encouragement to further strengthen L f it It is refreshing not to have to take taka the words 1 S. S of spellbinders out on the stump for such I S S clarifying information