The Washington herald., 1907-10-13
CHANLER ON OUTLOOK
Takes an Optimistic View of
Business Situation.
NOT A CALAMITY CANDIDATE
stock Gamblers, He Says, Know
Nothing About the COuHtry's PrOs-
perity and Have Nothing 10 Do
with If-TrHde Conditions as shown
by Recent Statistics Are Good.

New York, Oct. 12.-It is a significant
fact. and one worthy Of attention at this
time, that of all the Democratic candi-
dates now mentioned for Presidential
honors the only one who seems TO take
an optimistic view Of the business situa-
tion IS Lieut. Gov. Lewis Stuyvesant
CHAMBER. Of this state.
William Jennings Bryan. in the opinion
Of Democrats here is doing his best 10
hold Up the traditional argument that
the Democratic party can never succeed
except upon a calamity issue. Other can
didates are viewing with alarm" what
they declare to be a serious disturbance
in commercial life.
That Chanler has taken the converse Of
this proposition shows that the young
New York Democrat has been doing a
little thinking on his own account Sew
eral upstate New lork counties have
already, in convention. indorsed him for
the Democratic nomination for the Presi-
dency. and the New York State Demo-
cratic committee would have done the
same thing AT its recent meeting here had
not Gov. Chanler been apprised OF the
fact that a minority in the committee was
opposed TO such action Leader Charles
f. Murphy OF Tammany Han demon
strated that he controlled the committee
absolutely by a vote Of 80 70 IS. two mem
bers being absent. He agreed with Gov.
Chanler, however that unless the indorse-
ment were unanimous it would not be
a wise thing to do politically
His Optimism Justified.
That Gov. Chanler is wise in taking an
optimistic view Of trade conditions is
justified by statistics gathered by one Of
the most important business Institutions
in New York They show that, for July.
outside OF New York city, there was an
Increase in bank clearances amounting
to an average Of 8 per cent, a greater in
crease in August. and a still greater in
crease IN September.
The crop yield for the coming year is
estimated at 5000, 0.000 and the amount
Of money now held by savings banks in
this country is $3.000 O00 000
During the last six months the rail-
roads have borrowed on short-time notes
sorne two hundred and fifty millions Of
dollars. a greater part of this money
came from Western banks. and was
loaned at rate that will yield a very
substantial interest on the money. This
S25c. .O00, 900 goes into betterments. and. Of
course, that means into general circula-
ton.
These figures viii give bird's-eye view
Of general business conditions, and have
nothing whatever TO do with stock mar
ket or gambling features in trade affairs.
wall Street No barometer.
Wall street has long since ceased to
be an accurate barometer for judging
prosperity in this country The gentle
men who have been hurt by the recent
slump in stocks no doubt feel that this
country is going to the demnition bow
vows, but these gentlemen, as Gov.
Chanler pointed out in a recent speech,
have as much to do with the prosperity
of the country as the flea on a dog has to
do with its locomotion.
A further evidence of the truth of what
is stated above may be gathered from
the weekly reports made by men en-
gagged in the wholesale trade here. In
every line Of trade there exists a very
hopeful feeling.
Orders for new stock show an average
increase over the orders for the same
| time last year This would seem to in
dicate that retailers throughout the
country had held aloof from buying un-
til they were satisfied that there would
be no falling off in their respective lines
OF business. AS long as this condition
continues to exist no one need seriously
worry over the business outlook.