The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1907-07-09
No Hard Times.

WI NCAJ AOh5 d6O SO4AiS news
papers and some prominent public
men we're entertaining thoughts Of
the possibilities of hard times in this
country the coming fall and winter
owing to "unwarranted attacks up
on corporate interests, slump in the
Wall street markets and an unfavor-
able spring threatening a shortage
of the crops, AS the year runs on
however there appears to be no sub
stantial cause for suspicion that
there is to be any unusual period Of
depression, unless, of course, some
thing unexpected happens. which is
not likely.
While for a time the weather con-
ditions did seem to threaten a SER
ious shortage In the crops. there is
now great Improvement in the
crop prospects and with, continued
favorable; weather the shortage will
not be OF such extent as to cause any
serious apprehension. in the agricul-.
tural products. Vice President
Brown at the New York Central rail-
road recently returned to New York
from an extensive tour of the coun-
try and stated that IL real summer
weather then kept up until the first
Of July there need be no worry
about corn, wheat and the smaller
cereals. Dunn's Review declares
that confidence grows with the
crops" and number OF other au-
thorities admit a general improve
ment in the crop prospects.
AS to the general business situa-
ton, eminent financiers are now de-
claring that there are no sound rea"
sons for panic and predict con-
tinuance of the prosperity that an
eficient Republican administration
has insured for the nation. William
Rockefeller told New York news
paper few days ago that he saw no
signs OF a general reaction in bust
ness. Judge E. H. Gary, chairman
of the board of directors of the
United States Steel Corporation, sees
more prosperity ahead and diagnoses
the financial condition of the country
as perfectly sound. Melville E.
Ingalls, president of the Big -Four
railroad system declares There is
no good reason for a financial or
business panic" Frank A. Wander
lin. at one time assistant secretary
of the treasury and now vice-presi-
dent of the National City Bank of
New York. which Is known as THE
Standard Oil Bank thoroughly
analyzed the situation In speech
before the Virginia Bankers conven-
ton at jamestown and said: There
is no inherent reason In the condi-
tions of agriculture, trade, industry
and finance in the United States that
would make necessary a period of
further disturbance and depression, =
He believes that if spirit of fair
mess and intelligence is shown in the
railroad problems the country is
working out at present so that in
vestors will be treasured and if we
refrain from Legislation based upon
political, advantage" and do not
adopt socialistic theories that will
amount to confiscation of property
rights. there is no danger ahead.
President Roosevelt recently de,
clared in a public address that the
rights of innocent investors should
not be ieopardized by Legislative OF
executive action" and that this ma.
ton would no more injure securities
which have become part of the ma
tional wealth than it would consider
proposition TO rcpudiate the nation
al debt" which is an assurance thai
the probabilities suggested by Mr.
Vanderlip will not ,materialize. The
Wall Street Journal says that there
are so many people in this country
enjoying property rights that they
will not be very apt to join in :