Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1903-06-24
CHICAGO.

| LlllBdU0 views came out during the
- week almost simultaneous
y, through inquiry prompted by the re-
ports of lighter trade received from some
eenters and by the course of the securi-
ties market, which was on steady de-
cline. One interview was with an Amer
lean who has been styled the leading mer-
chant of the country; the other opinion
| emansted from the head of the London
branch of the great banking house y
Rothschild.
Marshall Field of Chicago sees in the
labor situation, in the continued disaf
lection and persistent demands of various
labor organizations for increased compen-
sation, a menace TO the welfare of the
country. Labor in his opinion, has gone
too far in our country. and there is
day of reckoning to come, when with a
lessening of trade activity and recessions
all around, labor, too, will find its value
on decline This day, he believes, is be-
ing FASTENED by the laboring men them
selves in their insistence upon conces-
sions which employers are obliged to
grant under the stress of temporary
labor scarcity; concessions which having
been %rung out of employers through
| threats of ruinous strikes will be the less
! likely to hold long afte" an easier tone
| develops in the labor market. While not
| ing every element of all adverse nature,
Mr.. Field would put the labor question
above them all in Importance as bearing
upon the question of a setback to Amer
| icaG industry.
| Lord Rothschild confined his observa-
| lions principally to stock market affairs.
! He says: Two years ago when Wall
street was almost crazy with bull specu-
| lation no American talked of anything
| but further advances. To-day, with a
record of heavy declines, there has been
and there still is much pessimism and the
prediction of further heavy declines yet
to come. 1t is often true that one must
stand outside his local environment to see
the conditions surrounding him in their
proper relation to conditions of wider ex-
tent, and it is probably true that Ameri-
cans are more likely to be blinded by the
light of their own fires in which they
stand, than are the men who watch them
from distance. The time for the Amer
lean pessimist is gone.
A year ago there was a chance for the
cautious business man to go on record
as predicting turn of lessened activity.
and some few did this and had their pre-
dictions fairly well borne out. But the
man who turns pc, simistic now, after the
passing of some of the most unfavorable
features and tne full discounting of the
| unfavorabe features Ii at still remain,
is likely to be as wrong as was the man
who shouted for still further expansion
when the country was booming beyond
the limits Of safety.
The most encouraging feature of the
week was the government crop report
The showing made was gratifying, as the
prospect Of a heavy grain tonnage is
maintained. notwithstanding a decline in
the condition of winter wheat. What
makes the promise for the West so good
| is the prospect of a big yield of grains
without the usual accompaniment of low
prices Stocks of wheat are so light and
European requirements will be so great,
that even if the yield be the largest ever.
as seems not unlikely. the prices will not
be mat rally lower, and the farmers of
the West and Northwest will be benefited
to the full. and every one win enjoy the
benefits with them.