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Show - - "No Need for Pessimism Says New York Banker , Confidence, Economy, Patience and Persistent Industry Are Declared Essential AIS.U.TON IIKl'Hl'KN. tliairnuin of n.lvisory bonrd of Chase Natiofial Imnk of Nv Vork. says 194J1 will l a year of rpadju.stni'Mit. Trit'-s of many artirlcs liav rachod bottom, and business activity so far as certain toinmoditit'S arc t'onmrned should trt rmni.il . . J There is ro need" for peslmlim," nays! Mr. Ifepburu. "The inur.ey market Is j i facing. crfiM : l-'-mg strengthened i.'nder j th1 Keneri'l :-d n .n i.t r.;t i on Mid Inspiration i of the federal reserve l onrd. Vh;it we ! need N confnln.ee. e. ot.ornj, i-atience j and fierMjifetit iiiilt.str. t ' The ihargc i i lr.is:tn co;;dtt i rs w "t " in I Tin u Hn i f!:t!on w i . raii p:int. The price of rver-thifg rver-thifg wash igb. ii'i'i, i'i Die opinion of a majoritv of pc.ipy. wa.s "ing h.glic-r, and ! the.r Im.oi.cas t raiiMtct ions were- predicated predi-cated upon that la-lie f. Nearly every h(l-lirt e eeileix. av.s AAtilrlLullner e 't.nn cntTjea from wide; cancellation of , ror. ti acta and refusal of consigne'B to , re-ei and pay for goods ordered. That practice haa been more pronounced pro-nounced in South America and Kurope-t Kurope-t han b'Tc. American Khipter li.i vt l.-e ii coin pel led eo rccs 1 1 goods "f-fig "f-fig iied a broad upo n definite ront ract . ;it great conceanion in prices, because Mhe-r conainees repmliated contract land in ti;anv instances the goods liav tUitt i.fcj ,u .UtAa..ioum.r U t v, ould be veil for our leilnw citizens 1 much concerned over establishment i of rn ilits abroad to survey existing1 I i or.d 1 1 ton.1--. i i:u-'!t.i, our former ally, has auf-I auf-I fered economic blockade on account of bolshev ihth. No trad.- in allowed with her. U ith that great reservoir of rav products and the cnnKimiption demanos of that great people denied to us there is iiotJiing available m Kurope eo far n we are concerned in a commercial s.n-e -cctit Scandinavia. penmark. Jloliand, I'nncp. M-aln. Portugal and KiiKiand. When our statesmen bring this war to an end and eHtabrlsh com-merch-i relations. Including consular representation with Kurope. hejond 1 th.- fringe of nations t. ordering1 on the Atlantic .better iimrs will appear.' itifl.-ttion, building up a condition fraught with iiie greatest d. nicer. The tne has turned, ani prut-n kiivu come lown all aong the line. It'tarl prices have tnL recetied as much as they .iiould. Wholesale Whole-sale price .4 ill sever. H instances have become be-come too low. ,i:id are bourn, to advance tn case of business actiMtv. Copper i lower than b. loi t he war. and lower t ha n it i i n be produced by in: 11 v m ines. Wool is lower than m l'.Mt. leather and fond an I in; 1 is on the hoof p re ;i I so Iov er i than prior to he w.ir. Cototri is low enough. Stver.il other articles might be ! inent ioned. This low lev el cm not he ma in la i ned whenever usual d 11m ml resulting re-sulting from business activity ensues. ;ood business Judgment, would dictate dic-tate th;:t loatiiila. turera supply themselves them-selves with raw materials at these low prices a tal that tc-eichanta procure ample 1 stoks of goods mail.- from material at thte very low level of cos;-. Corisuuiir'.g power of nir home niari- et is -V erv great, ) t' supply ovt r 1i.i ikiii .ii. people." There j has b.-en n -oj,i;ietiuu:i on part of re- j tatters for sevV.,1 j'.vtfi! now. t ut there w ill t e 1:1 the f liiure. The public W ill nut buy at exu'lM" im pr . ts now demanded de-manded ai.il retailer.- j-honld aiijust themeles to the charved price le', .1. ac-ce ac-ce pi 1 ng iii-v ita hie lo.vj,-s piiiln.-tophlc.il! V, if i!it aa cheerfully aa the acci-pted in-creaaing in-creaaing profita when prices v.-ere advancing ad-vancing Tnere ia nothing so fat.t to a community as business parahsis. or curtailment. cur-tailment. Thy otily w ay pi ople can pav their dent and preserve the good will of thetr business is to keep the current of trade moving White our foreign market ia very severely curtailed w know full wel there is a very large body of domestic domes-tic lrde t available- to itidus'iy. I wen to ;t prenouiri diirmir the Civil war .in and rematned ;it .1 pre mium until Jarcary 1. ls,":. Kurope Pd not borrow trouble over in.blir of fho Americana to buy goo!r in Kirop.. -, cau4- Ihe American iloii ir ,;,s worth only 40 etit-. 1 he ,-(t us In work out our own e.iiv itioti. and w,- did it. Now that the tabic- are reversed, there is a general preachment that it 1- the tl tt of America, to st.ibihzi fore, gn el.-luii. That ia an utttrly nnpofsiblu UtfK. We coul dvery easil, b unwiee action, de-precii'e de-precii'e otir t'Xcli.uige to ihe paper atatid-rd atatid-rd 4f Kurope. ii;t the .-n4.rn.011s rh-bts of countries receiirly at w:ir put it I.e-yomf I.e-yomf fii.niK-ial : lilit of the I r.ited Mates t4 restore them lo t tie goid standard The cotin tries the ril m-i will ha' e to work out their e.iivatLni bv e-riomy and pTs:siem hard work. .Many ei-monbst a 4-f i:;!ruif are i ..-r-" 1.-1 n tT-. urgnigrie duty of th- I nited States to c.iii.el the utipa;d $c.4t;i.sj.i;i t.( liMiel.tednefo. re-Milting re-Milting frm toau. to the allied riitior,v tilKMi which then- Is accrued intert unpaid, un-paid, anion ii( 111 g to $ ,'nn. 4. 7n:. ( t siime time the jire persim-nt ly urging this co::i:ry to loan Kurope more. There is sn immense amount of loo--); tlunkin;' and talkirig m regard to the duty Vf America to restore Kurop.-ari cu-rcti- ic i to par. "A gcntlern in the otii. r day sa:i "It requires a little ov.r ; ; ... n iraio s now lo buy a dolhar s v on h of - 1 on ok lie re a .( I 1 T I O, IT f i frftm-s w.-re . n-jum I v. h r. xchange v.as at paritv. How can th.- l.uy American goods" '1 he r. ion that it take t, er sixteen franca to btiv a dollar tn t-c.i'.-i- rr. m Ti t ur renc'v"is : so eadiv d-pr. cia'ed If a roan has, labor 4ir material to 'J m 1 r.uu.- a 1 l- iUite a.- easy for mm to git m. tcn fian.-s now a- to t fiv.- fn;nca in prewar Mm. a rn.-e.-4 of 4or,,.(i..d 1 - I tiea an4l labor ire appr.-i-ia t I jvm us much as llit-ir i iirn in y is ili-pr. ciafi-.l. Kurope s purel.a-e from Anient hdiould be limited t n.ce.Hary pro-lutu and raw materia. to n-habi litatr local factories. fac-tories. "The worst feature of the Kuropenn situation, so f ;i r as thia coi;:itr. is concerned, con-cerned, is that we aie Mtlil i.otnirially at war w ii h midd'e Kuntpe, and the lack of consular repr-senial iv va in ver many, A nutria-11 ungary and ot her nations. Iack tf any coop, rut ion by our govern 11 lent makts it net to im-possibl im-possibl tt do buineas here. have 3.Mti.i)oO hab s ..f loW grade cotton such aa has lo ver Iwen worked up in this country. ".'- have p..ld it to middle mid-dle Kuropo. wh.-r.! the cotton is lived apt inanu tact urt 4l into cloth in colors which app al to the normal taste of those people. The ollon is jUNt ax Serviceable, and, being available t t low er prn e. ia more .i.sirabi. v,Vt r-we r-we Ht peace, aome Nvsteni of barter cr exchange or revolving credit could l.e 4'Volv. t find tur planters- a mark.-t ftr this cotlon and give -;ir?ie the raw material t4 t-uppiy iier needs. ' The public prim announce t hat $lfio,oO0.O'U worth of coa." mn tracts have been repudiated by French coal dealers becaitee of recession in price of i-oal and because they were Unable to pay for t he snmc. M uc!i tf the iroutde. in the present business situa- |