THE PRESS IN DEPRESSION
The celebration of the Southwest on the return of prosperity as presaged by a rise in wheat and crude oil prices, received overemphasis in the newspapers. The usual optimistic prophecies made by the officials that deal in these commodities were quoted, despite the fact that similar statements about every momentary rise have been too often belied.
While there may be a strengthening of certain industries, the optimists, guided by the failures of other recent prophets of prosperity should be less hasty in their acclamations of the loss trying times that are to come. Only slight recognition was given to the stringent methods used in the oil fields that caused a drop in prices before this rise could be accomplished. No Newspaper can truly claim the permanence of such a rise until it has truly established itself.
During this prolonged period of financial stress, the press has done much to keep the public informed concerning the trend of affairs, too much. Front page stories detail bank failures, unemployment, and other indications of industrial distress. While the known value of such stories in good, there is doubtful benefit for the general morale. The financially depressed public is hurried deeper into mental despair by such emphasis on its woos. It in becoming tired of being aroused by journalistic cries of wolf at each false down of prosperity.