Classic Mode

Automatic Age

Issue: 1930 August

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L O O K S
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B U S IN E S S W O R L D
Some Views and Reviews of General Business Conditions
Trade papers naturally interpret what
the trend of general business conditions
indicate for their respective fields. It is
frequently suggested that the public does
not hesitate to spend its small coins even in
the midst of serious- business depressions,
and, this is largely true. Though operators
may continue to expect good patronage for
their machines, nevertheless operators are
human and react keenly to the spirit of de­
pression that is in the air. Another note
of encouragement that is frequently men­
tioned in favor of the automatic trade is
its youthfulness among the industries and
the constant stream of new developments
that keep the number of opportunities both
for manufacturers and operators steadily
mounting. As the summer season passes
everybody begins to look for signs of an
upward trend and various predictions are
being made.
Some small hopeful signs have really ap­
peared and the way pejple think in general
has so much to do with the trends of busi­
ness that is it always a good idea for men
in business to try to get together in their
thinking. When all the facts are in about
thirty per cent of the depression was
mental. Still, mental depression can be as
painful as a decided flattening o f the pocket-
book. Whatever the state o f mind has to
do with the present situation, better days
will not be here again until there is some
straight thinking done in that direction. In
the midst of all that is said and written
about business depression many good sug­
gestions are made, and good times could, be
decidedly hastened if it were possible to get
all lines of business united on a good pro­
gram of action. More intelligent effort has
been put forth in many business circles
during this depression to shorten its dura­
tion than has ever been shown before, so
that is some encouragement to record any
suggestions or ideas that may be made for
the benefit o f all thoughtful minds that want
to get somewhere in their thinking.
Let’s summarize some of the suggestions
that have been made during the past
months.
The automatic trade will be
affected directly or indirectly by every trend
and current in the whole mass of business,
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so that we cannot shut ourselves off from
the rest of the world and say we are not
interested, Word from many o f the manu-
facturers of automatic devices indicates
that they are very much affected, by gen­
eral business conditions, and while the oper­
ators have not been so ready to speak, out
it is true that they are feeling at least the
general atmosphere, too.
1. Unemployment has come up for much
discussion, and the consensus of opinion is
that it is a problem likely to stay with us
for many years to come. The developments
in machines, and the rapid rise and fall of
industries, made and unmade by inventions,
keeps the problem with us. Countries the
world over are faced with serioUs unem­
ployment situations. Masses of unemployed
have such serious effects on general busi­
ness conditions that it is becoming more and „
more urgent for all intelligent ^people to
put their heads together to find some meth­
ods of coping with the situation. The auto­
matic trade has sometimes been accused of
creating machines that displace workers,
and while our trade is so small so far in
its general proportions, yet automatics has
created jobs for thousands and it is doubt­
ful if a coin operated machine has displaced
a single clerk in this country. Still, every
man in the automatic trade must join in­
telligent effort everywhere to help solve
problems of unemployment as the condi­
tions threaten to be too permanent.
2. Careful thinkers for several years
have been observing the increasing difficulty
that small and medium sized business en­
terprises have had in securing needed,
finances. Most of the firms in the auto­
matic field belong in this group, so we are
vitally concerned. The New York Journal
of Commerce recently stated editorially
that in financial circles an enterprise that
did not involve as much as $2,000,000 and
more could not expect to receive the slight­
est consideration. In these days of mergers
and big business, one scarcely dares say
it, but still there are many indications which
go to show that business conditions will
not be normal again for any length of time
until conservative financing is available for
small business enterprises everywhere, just
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as readily as for gigantic stock promo­
tional ventures.
The Automatic Calendar in July gave ex­
pression to some of our opinions on this
matter. The plan announced by a large
Chicago bank last year was mentioned..
Briefly, the plan was that the. bank would
undertake to market three and five year
term paper for customer firms, observing
proper precaution of course as to business
safeguards. Mention is made later in this
article of plans made by the Scranton, Pa.,
Chamber of Commerce to come to the res­
cue of firms needing financial aid. Happily,
there is a growing sentiment in many cities
and towns to consider every business enter­
prise within the city as of special import­
ance and value to the general welfare of
all its citizens. Growing sentiment like this
Inaccurate Scales
may mean the salvation of small and medi­
— From Collier’s.
um sized business enterprises. At least
two suggestions then, are being made that
may mean a better day for small business man who wants to see business conditions
on the upward trend all the time.
firms of all kinds.
3.
Practically every nation on the globe
is feeling business depression just as we
“ T r e a t in g ” a P a n ic
are, and once more we are made to face the
Early during the current year it was
kinship of the whole world. The immense
amount of productive machinery in Amer­ quite customary to say that the panic of
ica indicates that either much of the ma­ 1929 has been so scientifically “ treated”
chinery wfll have to lie idle, or else we will that it would not really amount to very
be faced with problems arising from over­ much. Careful control by Government and
production for years to come. And while business authorities, “ psychological” handl­
we are faced with too much at home, mil­ ing of the frayed nerves of the business
lions are even starving in other sections of
community, and the adoption of a “ scien­
the world. But before the rest of the world tific” method, were features that were said
can begin to buy our goods, something will to differentiate public policy during this
have to be done to raise the standard of business recession from that adopted dur­
living in other countries— in other words ing any other.
the wages of the masses of people in the
At part of the “ policy” that was hatched
lower classes in most of the nations of the out at Washington in conferences between
world will have to be raised to something politicians and “ business leaders” was the
like ours, before they can begin to buy our issuance o f reassuring “ surveys.”
The
goods on a large scale. All this simply earlier of the surveys contained unques­
means that if business is going to continue tionably misleading statements about un­
good in America, there will have to be a employment, rates of interest and the like.
lot of co-operation among the civilized, na­ These misleading assertions were so
tions of the world. After all the best extreme as to compel public criticism and
policy is to try to conduct business on a comment. They were succeeded by re­
“ live and let live” basis. Easy to say it, views that were rather carefully statistical
but won’t there be some terribly painful in nature.
rubs before we get to anything like half
A wholly extraordinary optimism per­
the ideal arrangement?
meated the “ publicity” thus given out, and
From all that is being said about busi­ a good deal of clever statistical work was
ness conditions, and what ought to be done, done in eliminating “ seasonal fluctuations”
certain opinions have been carefully se­ and otherwise making the worse appear
lected from various publications and busi­ the better season. Finally, there came a
(Continued on page 17)
ness journals for the information of every
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