Last of the Prophets

Last year when the Depression was young and newsy, Cabinet members heartily took their cue from President Hoover in predicting, almost to the day, when it would end. The failure of these forecasts eventually reduced the White House to glum silence, muffled the Cabinet. Last week, however, Secretary of Commerce Robert Patterson Lament uttered one more Administration prophecy. Prophet Lament was very cautious, very vague. Said he: "The apparent retardation in the rate of downward movement in several basic indexes of business, supports the belief that the elements of recession have now spent most of their force. . . . While it is impossible to forecast at what time unmistakable evidence of improvement in business will occur, it is clear that we have reached a point where cessation of further declines and beginning of recovery may reasonably be expected. . . . One may confidently predict for the long-run a continuance of prosperity and program. ..."

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