The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1908-01-03
FRANK E. HOWE. Editor and Publisher
A Briuht Outlook.

Last month the exports OF the Unltcd
States were the largest in the history
of the country. They amounted TO
1904, 900, 900, the monthly average last
year having been $3.50, 900 and this
was record. Much is said of the
100000, 600 in gold drawn from Eur
ope during the last six weeks, but our
exports for the single month of Nov
ember amounted to twice as much
While the crops of 1907 showed some
falling off in quantity their value in
the markets of the world is greater
than ever before. The country's pres
ent production on the farms and in
manufactures and mining is $25,000,:
900, 600 year, and it would be strange
if people capable of developing such
a business should be unequal to the de-
tails of carrying it forward on an or
derly and fairly remunerative basis.
In the whole groundwork of American
industries there is no indication of
failure in material resources. Crops
have been good for long succession
of years. When this important fact
is analysed it is seen that results in
American agriculture have constantly
grown snrer. The intelligent methods
of our farmers overcome difficulties
that formerly took the shape of bad
years" None has occurred lately nor
is any indicated. This is large coun-
try and in farming has risen above To-
cal perversities of season.
Not crack Is seen anywhere In the
foundation. What is it, then, that
caused the recent furry? There has
been a deficiency in the currency, to
some extent due to boarding but Con-
gress is In session and can supply a
speedy remedy. In order to prevent
runs by the panic-stricken, the banks
took some unusual measures to pro-
tect themselves and depositors but the
banks have proved themselves, with
extremely few exceptions to have as
sets far beyond what they owe. Con-
fidence, or, in other words, credit, has
been disturbed, and credit represents
a financial working force twice as
large as the entire volume of currency.
Gambling in stocks has been greatly
curtailed, but this is phase OF the
matter that is not regretted by the peo-
pie. Plunging on margins is at the
risk of those who engaged in it, and
the public has no sympathy to waste
on the losers, though they certainly OBJ
ject to the class of banks that get mix
ed up in it, Individual credit in gen.
eral has been closely scrutinized anew.
An unsound concern must go through
the process of liquidation but this Is
no novelty. 1t has been phase of
BUSINESS from the first beginnings of
fade.
The main point is that the American
situation as whole is promising in a
high degree. Continued general pros
perity is indicated and, in the opinion
of many, assured. The new year is
here and the outlook is essentially
favorable. Between Congress and the
mints. exports and the returning
stream of gold. the supply Of currency
will soon be ample. Its stable value
was settled In the great political con-
test of ten Years ago. The great bulk
of the country's activities is in the
form of legitimate, tangible values.
Corporate affairs are under close leg
islative scrutiny. The finances OF the
government and the great enterprises
it has In hand, are in excellent SHAPE
American prosperity cannot be kill
ed" says a prominent financier. More
over, nothing seriously wrong can be
discovered in fundamental conditions.
Under the searchlight they are seen to
be thoroughly sound. Instead of in
dulging in pessimism, the duty is to
60 forward with confident faith in the
country's vast resources, in the honest
fiber and capacity of the people and
in their power, under representative
institutions, to apply suitable correc-
tives when required-St. Louis Globe
Democrat.