Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1900-09-12
INVEST THEIR GAINS.
PROSPEROUS AMERICANS LOOK
FOR GOOD SECURITIES.

Every indications that the Western
Farmers Will Continue to Enjoy the
Good Times of the Last Few Years
Democrats Tricking Up Price Lists,
The month of September promises to
See struggle OF Euyope against some
Of the automatic forces Of commerce.
Bills are already beginning to pile uD in
the New York exchange market for tile
autumn exports from this county. a
fail In exchange to the import point
should be a normal incident in few
weeks, But Europe cannot spare gold
for export, while the United States has
more gold now than ii needs. Only by
further borrowing III New York and
drawing on the resultant balances can
Europe. it seems. be able to control eX-
change, and avoid loss Of gc'd to the
United States. To America the press
ing financial questions of the hour are
lng-"What shall BIZ done With
the large ana stiiI increasing national
credit balancef" The only answer
seems to be-"Wholesale Investment in
foreign securities
On this score another foreign nation
last week offered to help us out. The
placing of SI0,e00.000 of Swedish bonds
in this country, following the floating
here of $2s,o00 600 OF the British war
loan issue, only to very small extent
has solved the problem of how the vast
credits accruing to this country in Ea-
rope shall ind Investment. The credit
balance of inis country viii probably
be increased ia 1870 by $500, o00.00o 70
Mexico. Montreal (Canada1. russia,
England and Sweden about $T6000,000
during the past eighteen months has
been loaned out, which only about one
tenth covers what win be this year our
probable increased credit from the bal
ance of trade. 1t is evident that foreign
securities win have to be listed in New
York very soon. And tAen American
bankers, business men "rd investors
win have 10 confront, as Yristfcal men,
the condition that tltis e.Gatry is now
the creditor nation Of th@ world-not a
mere theory that It $ destined to be.
The price Of cora has lately teea how
ering close aroGDd JEe Recent mark.
In Kansas, Southern Illinois, Missouri
and Tennessee there has been consid-
cradle falling off III the condition of the
crop. Relating to the probable shortage
in Kansas, Nj. Cotbln. the Secretary
of Agriculture for taat STATE. says In
his report Of last week
"In perhaps two-thirds Of the State
the drouth is severe. Ii is to be re-
membered, however, that Kansas is not
the Kansas Of six years ago. Then the
loss of the corn crop left thousands OF
farmers with nothing. This year the
wheat crop Is biggest where the corn
failure is worst. Kansas has million
more cattle than there were in the
State in 1894 and feeders are going &c
be able to get cheap corn from Nebras
ka. The corn damage is serious, but il
is not going to be destructive"
In connection with the subject of how
the eheapening of money since 1896 has
been of such great help 10 feeding oper
ations in the West, and a direct means
thereby of raising the price for corn
it is interesting to compare the corr
market at the beginning of September
this year with conditions in the Sep
TENDER Of 1896. Corn is now Gloss
around 40 cents buslel, whereas al
most exactly four years ago it touched
the low point for that year of 1915 cent:
a hushel, or about one-half the present
value. The extreme depression in thf
market in September, 1896. was due te
the money stringency then prevailing,
and for which the aggressiveD ess of the
campaign for free silver was RESPONSE
BILE. Neither the farmer nor the bull
Spectator could get none then tC
carry corn, SO as soon as it was harvest
ed it had to he thrown on the market
to the utter decentralization of its price
After the defeat administered to the
cause of free silver, two months later
there was an immediate rally of about
cents bushel in the price of corn.
1t is noticeable that the railroad
granger stocks are experiencing nc
declines of mportance-notwit
ing the crop damage reports from Ger
tain sections of the corn belt 1t il
probable that the leading officials have
figured ont that In the aggregate there
will he as much grain to haul IN con
nection with this years crops as WITH
last years. which overtaxed their ca
pacity; while the value of the 1900
crops in the aggregate viii probably BE-
even greater than the aggregate value
o. tie 1899 crops If this proves true
it Will Of course mean still further in
creased purchasing power for the PEG
pie of the corn belt as whole They
viii buy more Eastern goods, and that
will increase the tonnage Of frst-class
West-bound railroad freight.
Bottom Dropping from Bryan "Issne. -
So suddenly has the wind been taker
from the Democratic sails of imperial
ism and ''mllitarismH by the logic Of
events in China that it is not surprising
that the Democratic navigators should
feel nonplussed and puzzled as to how
these sails can now be set so as tt
catch even some faint breeze of mis-
guided public sentiment Some Of sht
chief "anti-imperialistie" organs that
might be expected to have some ard
and sympathy for the unfortunate
Democratic predicament. are giving