Page 6 Advertisements Column 3

Ashburton Guardian, Volume XLI, Issue 9487, 9 April 1921, Page 6

' In an article on Business Psychology Mr Fred Cardway, Vice-President, Packard Motors Export Corporation, says : — Business prosperity depends, not so much ou natural resources, j good crops, and efficient banking systems, as upon the psychology and men- i tal attitude of the people. This conception is no idle theory, a positive truth conclusively proven by industrial history. Business depression does not necessarily follow because of crop failure or similar difficulties. The real cause always lies deeper. Progress, expansion and development continue regardless of such obstacles, if there is a proper reserve of wealth and if the mass of the people can ignore the songs of the pessimist and keep their mental outlook directed toward the sun. Hysteria is rarely founded upon actual distress. Often it is entirely independent of physical factors. A panio is merely mob psychology functioning m the throes of melancholia. A panic comes because we talk and act and think panic. A period of depression is a consequence of distorted vision and warped mental viewpoint. "Bad Times" can be eliminated with the same degree of efficiency as the . medical profession has shown m obliterating typhoid. .Business needs mental medicine, not physical miracles. Emerging from the war, the world experienced a period, of prosperity here- j tofore unknown. But much of this wealth was dissipated m extravagance, j Industrial organisation forgot the absolute necessity of accumulating reserves and surplus funds for future exigencies. Thus when the buying public 1 changed from a position of indulgence to one of severe questioning, business found itself combating • not only pessimistic mental processes, but a lack of reserve capital. It is this combination of unfavourable elements which cannot be conquered without a mighty struggle.