The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-04-23
Wanted-A Bumper Crop.

w csAVCO-Ea Duu4PC1 SlOp.
The whole country has reason to
be thankful for the rains Of the past
week over the west and southwest,
where the winter wheat crops In many
important districts stood sadly in need
Of moisture. Just how beneficial these
rains have been it is impossible as yet
to determine, but at least they have
served to check the growing feeling
OF alarm over the situation.
This Is not a year in which the
country can afford to have crop scares,
much less any serious crop losses, for
conditions are such that things Of
this nature would in all likelihood
have an effect upon general business
sentiment more than ordinarily Sc
rious.
A period Of business recession mod
crate yet general, is upon the country.
This we may know from observa-
ton, from current business reports.
and more especially from the big
items bearing upon the situation. The
fact that there has been some slacken-
ing of interior demand for money, for
Industrial and commercial purposes, is
shown by the money plethora in New
York, where more is accommodating
and bankers are finding it difficult
to keep surplus funds prof1tably en-
ployed. The smaller showing in the
countrys merchandise exports, de-
creased output Of number of lead
Ing Industries, railroad earnings under
totals Of q year ago, and more unem-
p1oyed men in the cities are signs
Of the times. Nothing necessarily seri-
GUS, but they indicate, most unmis-
takably, that the country Is no longer
forging ahead at the rapid pace main
tanned for several years previous.
Opinion in the realm Of economic
thought divides upon the question OF
whether the next turn in commercial
affairs should be for better or worse
Expectation of continued increasing
recession Is based upon a number O.
arguments, one of which is the cycle
theory or the regular recurrence o
business depressions About once il
ten years the country gets sever
setback, and about once in decad
a great panic. The last bad time perio'
came in 1898, and another Is abou
due.
Against this there Is the funda
mental soundness Of the country. r.
suppose that because we have had
bad backward slide about once in tel
years In the past we must necessaril
haIyn fhan "a 20 to1 U
precedent for q blind guide and t
ignore the greatness and resourceful
ness of the country. and the man
changes, making for greater immun
ity, in our banking, monetary an
commercial systems.
Once in awhile we go too fast; W
expand too much. A boom sweep
the country, the business man yer
lures more and thinks less of cor
servatism, and while the boom is o
the Wall street element goes In fc
excuses. Things have to adjust them
selves sometimes, and, sooner or late
the trend Of everything having bee
upward for time, the turnabo,
comes and everything tends dow,
ward.
Because the downturn has usual
carried the country into profound d
preston it Is by no means certa
that 1t will do SO now. But the
Is this about 1.-THE country has g
to have good crops this year. A goo
all-around production will raise Il
country right out of the dumps, b
1t cannot be doubted that the failu
Of crops in any important degr
would be very serious.
The power of the country to wit
stand a crop loss is ordinarily We
great. In 1899, 1900, 1902 and 10
the corn crop. ran we'll above 2,00l
100000 bushels every year, averagi
2,240,0O0O00 bushels for the 70
years. Continued bad conditions c
1t to 1,522,520,000 bushels in 1901, )
the country weathered 1t without
tremor, and following this heavy ia
ing off in the cereal crop of large
yield, and great tonnage producer,
railroads earned more than in
previous year, and the. whole count
was more prosperous than ever.
Last year northwest conditions We
bad. Had the weather been CONTROL
by a power directing it against
farmers 1t could not have been mu
worse. The crops made an une,
start. During June, the growi
month, the weather was unseasonal
damp and cool, and when the crt
stood ready for harvest in the f
rains fell at intervals for almost
weeks. The northwest produced
of everything, and probably $4,000
bushels less wheat than might r
sonably have been expected had fay