Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1907-10-03

4Odk0S, uE0S, S0F0I0 1ldu1ddC1Oh, dhN
excitement of the people, and that there
is as much doing in the country to-day /
as it has facilities for.
1.-THE real question that troubles us
is, what of the future? And here I am
inclined to be optimistic; not that 1
think for an instant that the rate of in
crease tor the past five years can go on
for the next five years; neither should
we wish it. The railroads would be
swamped with business, the factories
would be forced to work overtime, and
the banks could not take care of their
demands: but there is vast difference
between this wild, excited state of ever
increasing business and n steady con-
tinued progression, where eacn and
every one has what his facilities enable
him to do comfortably, where labor is
we'll employed, and yet not so crowded
but what it can give good service and
fair results. Let US look at some Of the
things that have happened lately hich
would lend strength to this conclusion;
First of all we might consider the sale
of the New York City bonds as the
turning point in our finances. It is
true that they have sold at a high rate
of interest. Every one knew that with
the demands that are on the capital of
| this country on such large scale, even
with the credit of city as good as
| Now York, would demand high inter-
est. One OF the good things about the
| high rate of interest for city bonds
which will spread all over this coun-
try, is that it will tend to make our
city officers more careful in their ex-
denditures. The people will watch and
criticize the same more, and thereby
the extravaganza of municipal expen-
ditures will be checked, and it is time
they were checked, for they have out
run all reason. Then we must put in
| force economies that will enable the
people to save and invest their surplus
| so as to absorb the large amount OF
short-term notes that have been put
out. The Financial Editor of tho New
York Evening Post answers my in
quiry by saying that between the first
Of January and the first July, 1907, the
Ii
notes 1855. 900. Oe0: Industrial corpora
ton Sl3S ,000, ,O09. Here are over $780,
900, Geo that must be provided for, but
if the people will make up their minds
that we have passed the crises, the Saw
Iings Banks, Insurance and Trust Com
panies and investors will soon absorb
this large amount and relieve our
banks and individuals so that they can
E take care of the current business of the
country with their funds. We must re-
mem ber that they have all been sold.
It is only a question of placing them
in the form of a permanentlinvestmen
and not providing new funds.
''It has also been somewhat of 8
t. questioa hitherto as to what the out
come of our crops would be; now it is
f pretty we'll setlled that while they may
t not be equal to the bumper crop of las
year they are still above the average
r and with the enormous amounts car
ried over there is greater surplus
t than ever before, and prices for them
3 are SO high that!it makes the farming
r community very rich. Think of it.
l Corn at their door bringing SO cents
r year and Large amount last year to
3 sell. The result is the mortgages are
f being paid Off, new iGvestments are be-
l ing made, and altogether the agricul-
: tural community, which is the rea
foundation of our wealth and prosper.
/ itv G in Sl1ah condition, ha
3 would be almost impossible to have 8
l long g-continued depression in business
r in this country. Furthermore, you
l must remem ber there is about $1,000,
600 per day of gold going into the cur
rency of the world, of which we get ouI
t share, and this is like cheering the sick
man by giving him stimulating and
, hea althy food that he needs. Now what
: is the duty Of the Bankers to-day?
''To furnish readily. and with cour-
: age, the currency necessary to move
these crops, to transport them to for
eign countries, and thus enable our
> merchants to pay their debts, and turn
the exchange in favor of this country,
charging therefor, a reasonable rate
SO that money may at last have it's
) chance. It had ne chance when rates
) wer going at per cent. and per cent.
but with the standard rate of per
: cent. all over the country the banks
ought to make fair return to their
stockholders, and at the same time
such a rate is not oppressive to busi-
ness. Six per cent. money in this
Z country does not mean bad business.
but good business. No money ought
3 to be furnished for the enlargement OF