OCR Text |
Show MIDDLE CLASS HAS MONEY. The head of one of the largest wholesale houses in Ogden says collections are better than last y ear, notwithstanding the rumors of a stringency in financial circles. The wholesaler has grown optimistic optimis-tic He says the ability of the smaller merchants to meet their obligations obli-gations proves that the people generally are in a more prosperous condition than ever and capable of paying their bills. The farmers are well supplied with money and the great majority ma-jority are in a position to withstand a period of depression, were such to come by virtue of any unforeseen national disarrangement of our monetary affairs. A few years ago, whenever the banks commenced a retrenchment retrench-ment polioy, the country immediately felt a money stringency, but, as we have seen in the business experience of our local wholesaler, today money continues to circulate freely regardless of the action of the banks, and this can be accounted for only by recognizing the fact that there has come about a great change for the better in the condition of the people generally, and the farmers in particular, in the last ten years. The great middle class is out of debt and has millions on credit ' in the banks, which can be drawn on in case of emergency, and this surplus will prove a sustaining and even an uplifting force in the I event of a financial crisis coming down from that upper stratum which the financial magnates sometimes imagine to be the whole world of commercial importance. |