The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1904-04-23
THE BUSINESS SITUATION.

l.
prevailed in certain parts of the
country during the last month has
had rather unfavorable effect on
on trade. A few lines, such as cloth
ing and fuel. have of course been
benefited, but taken as a whole,
business activity has been retarded.
This, however, is merely tempo
rary condition of affairs. Although
the winter season is not yet over,
the intensely cold weather is now
a thing of the past and more sea-
senable conditions are likely to
prevail. With the opening of the
spring season there is reason to be-
lieve there will be a resumption Of
trade activity all along the line.
and that such ground that has been
lost will be quickly recovered.
From all sides comes the most
satisfactory reports regarding the
outlook. Business everywhere ap-
pears to be in sound condition,
and merchants are counting on q
considerable volume Of business
during the coming spring and sum-
mer. OF course all due allowance
is being made for the fact that this
is presidential year, but it is sig
nifcant that nothing approaches
a feeling of apprehension exists be-
cause of that. In this respect the
year so far has presented marked
contrast with many previons pres
idential years. The fact is not lost
sight of that. the political uncer-;
tainties are likely to induse spirit
of conservatism on the part of buy
ers, and that consequently the vol
ume of trade may not be quite SO
heavy as was that of recent years,
but so far as can be seen now there
is nothing in the shape of nervous
ness or uneasiness in any direction.
One reason for this feeling Of
confidence is that business is on 9
+ & W y.
rock bottom basis. Business men
are prepared for comparatively
quiet year. Speculation has been
eliminated from their operations
and they have their affairs we'll in
hand. The condition Of genera
business is shown by the way in
which it withstood the shock Of
Wall street development last year
In the stock market disaster fol
lowed each other in rapid success
sion, but there was scarcely a rip
pie on the surface of legitim ate
trade. Usually Wall street anc
the generalbusiness world are SC
closely related that developments
in the one are quickly reflected il
the other, but this was not the
case last year. General business
interests had no part or parcel with
the reckless speculation that Wal
street induleed in, and consequent
ly when the crash came they were
not in the least affected.
The strength which has beer
shown by the trade situation was
revelation even to many business
men who kept in the close touch
with conditions. It was an indi.
cation that however demoralized
Wall street may have become, the
country at large has pro6ted by
the years of prosperity that follow
ed the recovery from the panic o1
1893, and that the heads of bust.
ness men were not turned by that
prosperity. The money that was
accumulated was used to a good
purpose. The result is that the
country now is in shape to tide
over a few quiet years without ex
periencing any serious disturbance
and the absence of speculation re-
moves all danger Of protracteo
period of liquidation.
Commercial panics are usually
the direct result Of an over-expan
sion Of credit, but it is evident that
nothing Of that Kind has taker
/ place in the last few years. Busi
ness, in spite of the extraordinary
4 activity that has been seen, ha.
been kept within conservative line,
and it's operations have not beer
characterized by a spiritof reck
lessness such g has proved the I'M
doing Of the Wall street contingent
D Els Z 4 -. J. I = .