The Birmingham age-herald., 1908-03-15

creasing attention on the part or pahheis. As late as December last the treasury estimated that there would De SUI pius of SAP O00, ,0O0 for the year eholiiS 'uiie 30. The figures last obtainaple put Veis different complexion on the treasury sit- uation. ., .hara was an actual deficiency of $27,0OO,OOO with four months of the fiscal year yet to come and revenues decreasing startllng- ly while expenditures increase at fatlo quite as striking Indications now point to a very much larger deficiency at the end of the year than at the end of the first eight months. Down to the present time internal revenue receipts have held up very we'll The loss has been chiefly in customs.
 The great ocean freight lines unani mously agree that the outlook for inn provement in the international trade movement is the reverse of encouraging. Exports have held up well until lately, but ever there indications appear of a sharp slump in the volume of tonnage.
 Ocean lines which at the beginning of the year looked for a good season con fess that a sharp turn for the uad has developed. This is shown not only in freight but in the passenger branch of the service as well. The prospect now is for a bad year, and preparations are making by all of the companies for the inauguration of extensive economies in operation.
 The great lenders of money cannot be induced to loan their funds in any considerable amount beyond five and six months ahead. The largest lenders on the list say they do not care to en- ter into commitments that will tie up f I, rri,,. uncertainty as to the political outlook is usually given as the excuse for the exercise of more than ordinary con servatism. With the strong probability of rival presidential candidates both standing on extremely radical plat forms, the future does not look entirely serene to the majority of bankers and loaners of money. In this connection 1t is proper to mention bit of polite |!
 dope" which seeps in from Washing ton.
 It is to the effect that some of the wisest politicians at the capital--poi- tcians of republican proclivities wide experience and good judgment-are taking the view that a very large number of conservatives finding them selves unable to make a choice between the two radical candidates will remain away from the poles, the result being
 
 full vote and through the negative as- sistance of the stay-at-homes elect their man..
 Incidental to the election of a demo cratic candidate is the contingency of democratic House of Representatives or a republican House by so narrow I majority that the democrats will labor to combine with the New England re- publicans and put tariff bill through f i, pcll nf n bn next session two years hence. Singu- larly enough this idea has found wide circulation in Wall street and engages the attention of great many people of intelligence.
 The Standard Oil people are showing increasing confidence in the reversal of the Landis $29 900, 900 fine. They say that in the hearings before an ex- aminer in the case of the United States vs the Standard Oil company for the dissolution of the trust. evidence has been brought out that the Chicago and Eastern Illinois had on file with the in terstate commerce commission a 6-cent sch edule for the carriage of oil be- tween Whiting and East St. Louis at the time the Alton was doing busihes., at that rate.
 This evidence was barred out by Judge Landis, but now being part of the court record in another case can be brought properly to the attention of the higher court on appeal from the Landis decision.
 It was the Standard Oil contention that the law and practice as recognized by the interstate commerce commission allows competing roads to meet cut rates put in force by rival lines. On this ground they look for a ruling of the higher court which will enable them to escape the payment of the pro digious fine imposed by the Chicag' judge.
 From present appearances it is going to be a hard year for the building trades in New York Carpenters who were getting $4 to s4.50 day last year and not caring particularly about em- ployment at that, are soliciting work by the thousands at $2 a day.