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Show GOOD PROSPECTS The year 1928 seems to be starting off with good prospects. Secretary of Commerce Hoover, whose duty it is to keep his finger on the business pulse of the country, and who usually usual-ly does a good job of it, declares that all signs for the coming year are good. Among other things Mr. Hoover Hoov-er declared: "There is an ample supply of credits cred-its at low rates; the somewhat larger stocks of goods which were accumulated accumula-ted during the summer are being reduced; re-duced; there is no consequential speculation spec-ulation in commodities; the crops been abundant; wages are at a high 'evel; we are recovering from some partial unemployment, especially in the automobile industry. There is peace in most sections of the labor world except bituminous coal; there is more peace in the international world than at any time since the war; the foreign world is recovering its economic strength and buying power; therefore, our foreign trade is steadily stead-ily increasing." After pointing out that the average price of non-aericultural e-oods has fallen in the past twelve months while the prices of agricultural products have risen Mr. Hoover declares that "manufacture and distribution have by savings and diminished profits accomodated ac-comodated themselves to this system of decreasing profits without reduction reduc-tion in the level of wages and therefore there-fore in the national buying power," and adds that "the great extent to which industry has accomodated itself to lower prices by decreased costs makes for a sounder condition for the ensuing year." It's a good idea still to stay on the "long" side so far as your Uncle Sam is concerned. |