The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1908-05-04

Grease would however, seriously in
jure our export trade, which is largely
dependent on cheap freights. The
railroad situation is certainly critical
and calls for calm and just consider
alton.
Crop Outlook Good.
Perhaps the most encouraging fea
ture at present is the crop outlook
The season is fully two weeks earlier
than last year. and weather conditions
have been particularly favorable for
cultivation and planting. No dam
age has been reported from the late
cool spell except to fruits. Reports
as to winter wheat are exceedingly
tlattering, conditions appearing to he
considerably better than at this time
last year, Cotton is also doing well,
and adVices thus far received indicate
no decrease in acreage Good crops
this year will accomplish more than
anything else toward restoring bust
ness TO normal volume and prosperity
Prices Of all agricultural products are
high and yield a good profit to the
grower, With chances. therefore that
there will be a good demand during
the coming year for everything which
our farmers can grow there is every
prospect for a very profitable year for|
the agricultural classes
Restoration of Confidence.
In considering bushes prospects one
thing should be especially borne in
mind. We have now had six months
of very severe construction. Produc-
ton cannot be indefinitely curtailed ar
the rate of 20 per cent to 30 per cent
Such contraction is out of all proper
tion to the actual decline in consump
ton Before long supplies must be
come greatly Reduced, If not exhaust
ed, even If consumption were to con.
tinue on present reduced scale Every
thing now points to at least a partial
resumption of industrial activity ere
long as a result of better conditions
in the money market Now that tho
process of REIMBURSEMENT has been car
ried on to a considerable EXTENT re-
cCvery will begin here and there as
confidence revives A rational restoI
alton of confidence is more to be desir
ed than anything else Unnecessary
fears should be as carefully avoided as
unfounded OPTIMISM 1t should not be
forgotten that the situation today is
radically different frcm what existed
year ago. Then our troubles were
ahead of us, now they are largely he
hind us. and will soon become a mat.
ter of history We have enjoyed our
prosperity on a high basis of values
we must now seek its renewal on q
much lower basis.
Ample Reason For Hope.
There is really ample reason for tax
ing more hopeful views regarding tn
future This does not mean that the
country is on the edge of a sudden
unmarked revival, but that. conditions
are changing and now positively favor
progress towards normal conditions
What effect this will have upon tho
stock market remains to be seen. Sc
curites have already had very sub
stantial rise, which may lead to par
tial realizing, but in the long run
values seem destined to reach high
er level aud Wall street as usual is
discounting the nations recovery in
advance. The great danger is that the
recovery may be too rapid and prevent
thoroughgoing readustment ana
liquidation which is the only true basis
of renewed confidence and recovery
Several industries are still resisting
the inevitable decline in prices which
must come and which would do much
towards an industrial revival In these
cases our great corporation managers
are often standing in their own light
Resistance to the law of supply and
demand simply means a more violent
reimbursement than If allowed to oper-
ate naturally and quietly.
HENRY CLENlS,