Show 1 l sm by WILLIAM H TRUESDALE president odthe D L W Hail roid HUIE is certainly nothing inherently cak or discouraging in american activity no matter what the field of this activity is the trouble and the only trouble as I 1 see it is the breaking down of our credit conditions and tha disarrangement ran gement and embarrassment of our financial fabric and operations erat ions whenever credit and confidence can be restored the generally prosperous conditions of all branches of productive and business activity will reassert themselves and things will grow better the speed and extent to which the reaction will come depending very largely upon aliat injury has been done different interests as result of credit and financial embarrassment we have been under a business tension too high for safet every productive and transportation facility was strained to the utmost the commercial structure was expanding to the limit ohp cost of production kept mounting higher and the expenditures of the people increased rapidly we all were working and living beyond a reasonable standard that is what caused this present condition since it was certain to occur we should be glad that it fell upon us now in times when crops are good and foundations solid instead of being postponed a car or two when possible crop failures and other disturbances might have caused us to suffer ten times as much I 1 think we ought to bo thankful in a measure that the reaction has come now I 1 do not know of anything that could be said or done to put a sharp stop to the present tendencies I 1 look upon our condition as a fever that must run its course fortunately the patient is a very strong healthful individual with a strong constitution and wonderful recuperative powers so that his recovery is absolutely certain when the fever leaves him he will be better than ever and will start afresh on a new scale of living |