Panama City pilot. (Panama City, Washington County, Fla.) 1907-19??, 1908-06-04
Changing to the Better.

Since the day when the Supreme
Court, in rendering its decision
against the cOnstitutjonality of the
rate laws of Minnesota and North
Carolina, gave assurance to the world
that drastic legislation, confiscatory
in its results, would not stand the
test of the law, there has been very
great change in the financial and
business sentiment of the country.
Since this decision, and augmented
by it, there has been a growing senti-
ment on the part of the people
throughout the country that this
drastic undertaking period had gone
too far. With this change in public
sentiment and a turn back to a saner
view of things there has been
growth of confidence, a renewed dis
position on the part of people to get
to business. Capitalists are once
more willing, slowly, it is true, but
with increasing faith, to give con-
sideration to investments. IndiVid
ual investors Of smaller means feel
that business stability is being re-es-
tablished, and they, too, are willing
to consider things which a few
months ago would not have claimed
| their attention. AS an outcome of
these conditions, the Manufacturers
Record feels safe in saying that the
tide is beginning to turn, that bust
ness is once more moving forward.
| Those who want to be ready for the
great activity which is ahead of US in
the not very distant future had bet
ter begin to make their preparations
now.
| As a whole, the crop conditions are
more favorable, than for many years.
The increased supply % farm labor
has resulted in better blowing, better
conditions for planting and better
cultivation of the soil generally. 1t
has also given enlarged acreage, with
the prospect of an ample supply of
labor TO take care of the harvesting
of the crops. Nature promises to be
very prolific this year. Fruits, yege-
tables, grass, everything that tends
to a wide diversificatiOn of agricul-
tural prosperity gives promise Of an
abundant yield.
The demand which is gradually in
creasinG for railroad securities is
making it possible to take up long
| delayed construction work. Very few
people have any conception OF the
stringent economy which has prevail
ed il railroad management. Supplies
have been permitted to run down to
the minimum; wear and tear have
| not been taken care of; the buying of
railroad materials, whether they be
of iron, steel or lumber, have been
/ limited to the smallest possible
amount. When money again becomes
available for replacing exhausted
stocks, for the Improvement of tracks
and of rolling stock, the buying ac-
tivity will swamp the producing ca
pacity of the country.
No one need for a moment imagine
that this country is going to stand
still much lodser. 1t halted with a
sudden shock last fall, and it has
/ been taking account of the situation.
! 1t has found that the fundamental
conditions were never so solid, that
/ the worlds business is expanding on
/ a broader scale han mankind ever
/ knew, and that this country has pO-
/ tentialities greater than any other
country. yea, even than any other
continent on earth. 1t has realized
that the conditions which helped 10
bring about this sudden stoppage are
passing away with the return 10 a
saner view of conditions; and 50, hay
ing taken account, il finds itself aboC.
ready TO 90 ahead. Political unrest
NAV for time somewhat limit activl-
ty. but no man who looks broadly
over the whole situation can question
the fact that the wheels are once
more beginning to revolVe. They
will gain momentum in proportion as
unwise agitation ceases.
/ We are pushing out for larger
things, for greater growth than the
past witnessed. There are signs OF
these changes eyerywhere-NOrth,
West and South. 1t is time to get
ready for coming business activity
Manufacturers Record.