| Show TRACED CAUSES Of DEPRESSION Rep Burton Finds Them Mainly In Superficial Thinking and Hasty Judgments IS TOO MUCH EXTRAVAGANCE To io Seasons Ol of oC Dullness i Would lie Necessary X to Lie IC In III Some Such Country as or 01 ln Washington April 7 In address addressing big ing tho the houge today Mr II Burton o of Ohio practically traced time the present de do depression to superficial thinking and hasty judgments Tho Tile real sources source pC cf f the present nu Oil well as other seasons o of oc Industrial or commercial depression ho lie declared to be found in tho the distinctive features of a progressive lIke that of OC o tho tIlo United Jolted States where operations largely havn hn to 10 do tie with calculations upon future futuro 1 and an the time greatest profits pro lit are aro realized from a II successful anticipation of prospective condition Generally speaking he lie said salt there thero were three related onuses causes of depres depression alert sion public arid and private a 11 lack of QC harmony between betwee different branches of production so o that a sur surplus plus plums of divers classes cl s of ot commodities exists which cannot readily bo be cs ex chanell for Cor others and tho tue absorption tion of the capital cl or Of o a Q country In lii an nn anticipation of enlarged demands In tho tile future and the hope for greater grenter re ra rewards wards In providing for COI nome nomo new lIew form of convenience or or luxury Such uses of capital h lie J said suld may bo be Illustrated ed by liy cases like that of nf the tIlO tunnel the tho subways under New York Tent City elt find and tho the rivers adjacent thereto tho 1110 canal or In general In lu tho tito chilli g of circulating to fixed cap capital hal ital by b time the construction of oC extensive factories buildings railways or 01 other public works of an any t Thu Tho loss los of discarded Implements and facilities by Il b reason of Invention and the tho adoption of Improved he ile attributed us ns another r factor In consequence luence ho Ill said maid many mall ablo Investments Investment are aro lost newer lewer anti and moro aloro nearly perfect meth moth methods methods supply the tho demand which hereto heretofore heretofore fore CIO hind had been beOn supplied in III another way wn In lii no imo other country ho de do declared declared has hI it been boen tho custom so 50 much as In itt ours oura to throw upon tIle thu scrap heap expensive machinery and mind other othor forms of o equipment for fOI Industry or transportation Sir Mm OIl Burton assorted asserted that Invest Inest Investments ments meats In Iii anticipation of prospective needs neo s also caused derangement t b be because cause causo of oI the exceptionally long bug Inter Interval val va al their thell completion their tardy utilization after atter completion and tho tue problematical success of ot tho tile enter enterprises undertaken To 1 avoid 1 SeMons seasons of oC depression Mr 11 Emotion said it would be bo necessary to In seine Bomo t such uch country on na China or Persia Every land hand which lies has ha mado made rapid strides toward industrial prominence ho he said I has ilas at sonic nomo time suffered front from a n severe slacken slackening log ing of activity In business and in em employment The present depression would woul not lIot compare c In severity soo with that of 1873 or that of oC 1803 1893 nor 1101 no did ho lie believe It probable that any airy time In It the thu future the tho distress in business communities would bo b so great groat as in thos years yean ears |
