The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-08
An English View Of American
Conditions.

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business conditions in our country were
not so good as now and there were here
and there some dark spots that made
conservatives fear long dull period,
the London Statist sent man over to
see just how the land lay. There ap-
peared shortly after, supplement to
the Statist, giving summary of con-
ditions in America, with accompanying
differences, and some representation. as
to the future.
The good things that since have
worked to the front were then declared
to be forthcoming. English observa-
tions when made without bias or preju-
dice, often result in clearer definition Of
a situation than the same observations
made at home. The perspective is bet
ter. Timidity does not enter into it,
or narrowness of view occasioned by al
lance with one special interest or line
Of business. The Englishman coming
into our country, provided, Of course, he
possesses the necessary training and ex-
perience to make him competent
judge of things commercial, should be
able to see under the surface, deeper
perhaps than the American, who from
ordinary direction of attention along a
particular line is less likely to take so
thoro general view. Hence the re-
ports to the Statist then made were far
more favorable than the opinions enter
tanned by many American business men,
and time has shown them to have been
warranted by underlying conditions.
Again this English paper is out with
an American supplement devoted to the
railroads and finances Of the country
and taking in general range of bust
ness conditions, and since it made good
last time, and because Of its high stand.
ing in the list of economic publications
the Statist summary is being generally
read and commented upon in financial
circles. It is favorable in a. high de-
gree, and should inspire confidence in
the mind Of any business man who
reads it. 4,
The first thing that strikes the Eng
lish commentator as likely to insure a
long continued period Of commercial
and industrial activity is the abundance
Of money and capital, indicated by the
fact that American bankers have beer
active in loaning funds abroad. Coco
profits are found to have been made il
a , number Of important industries
Credit is good, and aside from the
confidence of one business man in an
other, there is general feeling of trust
in things governmental; not alone. il
the resources of the country, but in the
.condition Of the government finances
7 and the honesty and Intelligence Of the
men who manage affairs? at the head
About the only thing the Statist car
see as" likely in any way;to interfere
is crop failure, but the great: extern
of country is considered, and the wide
diversity Of crops and climate, and thu
conclusion reached that deficiency il
one district being usually counterbal
anced by abundance in another, nothing
short of general crop calamity coult
materially affect the country,
The closing paragraph of this highl,
gratifying analysis notes that tn
United States is now producing larg
amount of new wealth with a, minimum
effort, owing to the general use of ma
chinery of the highest type and every
thing that makes for Improvement il
methods of manufacture. Tie Stats
expects trade to remain active for
considerable time, and that the effect O
!: general prosperity will find reflection
? in enhancement Of values of good rail
: road and industrial properties and Sc
curities Of merit in the stock market