The Saint Paul globe., 1905-04-26
BUSINESS CONDITIONS

1t is strange how little discussion
one hears, as compared with a few
years ago, of the business outlook and
the fate of prosperity. Apparently the
public has settled down into a condi-
tion of complete confidence or utter in
difference. AS it cannot be the latter,
il must be the former. This is actually
the case. There is a serene belief on
the part of everybody that the country
is jogging along comfortably, and that
there are no bogies in the road. This
seems to be justified by the facts.
General trade conditions are uni
formly satisfactory. There are no
alarming failures and the demand con-
tinues good. The settling of political
conditions for some time to come has
enabled business to plan for the future
without fear of serious disturbance. 1t
is true that there is in the sky the
great menace of unwise legislation af-
fecting railroads, which would certain
ly precipitate a terrible revulsion. The
country as a whole, however, believes
that the agitators will not be allowed
to have their way at a cost so terrible,
and is not SO apprehenSive.
Industry everywhere is settling down
comfortably to the new conditions.
The feverish period in which great
combinations were being formed every
day has yielded to a time of calm A
portion of this consolidation, being
justified economically and contributing
to the work of the world, is stable.
another part of 1t, constituting the
mere wildcat element, has been weeded
out. At the cost of much loss to the
innocent and the collapse of a few bub-
bic fortunes, these enterprises have
gone the way of the unfit. A third
portion, framed for monopoly and not
for public service, is now being dealt
with by the courts. The prospect of
any large future disturbance in this
field is poor
Looking to the great basis of all our
industries, the soil. the prospect is ex-
cellent Crop reports from all sections
are most encouraging. 1t is a quite
general rule that an early spring is
especially favorable to big yield of all
farm products. When the seed gets
into the ground early, it natures early.
This means less danger from drought
from frost, from all the enemies that
destroy prospective wealth. The grain
that gets an early start is most Wig
orous and best able to resist all un-
favorable conditions. The season of
1905 opened among the earliest in our
history. AS far as the northwest is
concerned, crop conditions could hardly
be better at this date, and the rest of
the country gives equally encouraging
reports
No intelligent man looks nowadays
to the fluctuations of the markets. that
is to say of the great exchanges, as an
index of anything affecting seriously
~-AO ~0S-S VI pTOS-
perity of the country. A rash young
man has been trying to corner wheat,
and the price, under the influence of
that movement and the great shortage
of last year, sailed skyward He could
not carry his deal through, and of
course with its collapse there came a
corresponding fall. Neither one move
ment or the other counts in permanent
effect. The same is true of the fuctu-
ations of stocks. that go up or down
according to the pleasure of specu-
lators or the rumor that happens to
find credence for the day. The under
lying fact is that all legitimate indus
try, with very rare exceptions, is in
fiourishing condition, that there is
abundant employment for labor at good
wages and that business can, for the
present at least. look forward without
fear.