Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-07-24
GOOD TINES RETURNING.

Dissipation of political uncertainty
is one of three reasons given by Hen
ry Clews for the general improvement
of business conditions for the period
ending July IL. The other two are:
favorable Government crop reports
and an easy money market.
Clews' comment on the dissipation
Of political fear is perhaps the most
interesting to Hawaii because 1t con-
templates the tariff situation with
the utmost calm. The circular says:
Considering the removal of impor-
tant political uncertainties, and that
the worst effects Of the panic are be-
hind us, and that everybody believes
the situation is more likely to i'm
prove than retrogradc, tie conditions
are certainly favorable N important
respects for bullish manipulations.
The political campaign involves
no critical issues such as the integ-
rity OF our curreaSy system; and the
tariff question, the only one likely to
unsettIe DuelHcSs, 10 piStts SuiV W po
handled in n conservative fashion
and with as little disturbance to trade
and industry as possible. History
shows that Presidential campaigns
have not usually exerted the detri-
mental influence upon business that
is generally supposed. It is only when
some grave issue was at stake, such
as the silver craze In 1896, that busi-
ness has been seriously in danger.
The memory, however, of such an ex-
perience is lasting, and tends to un-
necessarily stimulate doubt when &C.
casion suggests"
Assurance that the tariff reforma-
ton will be done in a conservative
manner is a most happy one for this
Territory, whose industrial life de-
ponds on protection" but 1t should
not have the effect of chloroforming
any of the leaders in the industries
of the Islands into a state Of over
confidence.
other valuable features of this
midsummer circular have to do with
general business conditions, and they
are given to show that the men who
have been boosting the country and
predicting good times, are prophets
with good common sense and bust
ness acumen.
Good news Of the right sort was
forthcoming in the form of favorable
crop reports" says Clews. THE July
Government estimates indicated q
100000 bushels of corn, which
would be 30,000,000 bushels more
than last year and has been exceeded
but once. and that by the bumper
crop of 2,927.000,000 in 1906. The
wheat crop is estimated at 692,790,.
900 bushels, or 5S,000,000 bushels in
excess of last year, and closely ap'
proaches the largest crop on record
The promise for oats is 1,012,000,'
900, bumper yield and comparing
with 754, 100000 bushels year ago
In addition to full grain harvest
the cotton crop promises to be abund
ant, prevailing estimates being abou
100000 bales; and We have al
ready secured good crop of hay.
"The fruit crops, too. are bette
than usual. There is, of course, tn
probability of these estimates beinl
reduced by unfavorable weather
July and August are often months o
deterioration, and in September Their
is always danger Of early frosts T.
both cotton and corn in the northerl
sections of the producing States. Blu
these two leading crops are not s
backward as year ago; and, wit
larger acreage and better conditiol
than existed at this time In 1907
there is ample ground for hopefulnes
regarding the crop situation. Sine
prices for nearly all agriculture
products are high, especially corr
our farmers are assured of anothe
prosperous year. Cotton and whea
are cheaper than year ago, but cul
rent prices still afford liberal prof
to the grower.
Outside OF the agricultural situa
tion there are also visible signs of in
provement. Mr.. Gary's optimistic In
terview regarding the steel trade ha
good effect; for while 1t was ev
IDENTIFY made as hopeful as possible,
really had a basis of facts, inasmuc