The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1908-07-23
PROSPERITY IS
ON THE WAY
THE MOST STIMULATING
ELEMENT IN THE SIT
UATION A 7 TIL E
PRESENT TIME
is THE CROP
OUTLOOK.
(By Henry Clews)


Our financial leaders
and captains of industry are all
becoming more and more opti-
mistic in their opinions. DepreS-
sion is slowly but gradually dis
appearing and evidences OF inn
provement are visible in the dim
inishing number OF idle cars, in
the somewhat better orders for
steel, in a partial revival OF build
ing, and in a steadier demand for
merchandise in many OF the lead
ing markets. OF course business
is still very quiet, and in volume
much below that OF a year ago.
But the fact is true, nevertheless,
that depression is waning, and
that we are fairly started on the
road to recovery with no pros
pect of another panic in sight be-
cause of the thoroughness OF re-
cent liquidation.
The most stimulating element
in the situation at present is the
crop outlook. Our weather dur
ing Il past two weeks continu-
ed favorable, and Condition OF
the crops has improved cores
pondingly. The corn crop this
year according to present PROM
Use will yield 100000, 1000 bush
els, which at the September OPP
ton price of 60 cents would be
valued at $1,100,000,00 The
wheat crop with an indicated
Weld of 100000 bushels at
SO cents per bushel would
amount to 1927 100000. The cot
ton crop which promises 13,OOO,-
600 bales at 9 1-2 cents would
Weld about $6OO,OO0,000. The oat
and hay crops, now out OF dang
er, are record breakers in guam.
tity and quality. Last year these
two crops were valued at over
81 900, 100000 and this year that
sum will be further exceeded.
All the crops of 1907 were esti-
mated by the Department OF Ag-
riculture at a valuation OF ST.
412, 100000 on the farm; and in
view of the larger yield this year,
and the good prices generally OBJ
tanned, it is quite reasonable to
expect that our farmers this year
will produce new wealh worth at
least $s,OOO,OOO,OOO; the largest
sum ever realized in one year by
this country or any other from
agricultural products. The con-
tinued prosperity of our farmers
will be the strongest factor in re-
covery. Our farmers are already
in better condition financially
than they ever have been as a
class, and since they are less in
debt than usual they will be more
able to buy necessities and lux
uries than at any time in their
history.
Whether the proposed advance
OF 10 per cent in freight rates is
being used as a part OF big
stock market speculation or not
remains to be seen. 1t is very
certain that an advance of this
amount in freight rates alone
would add enormously to the
revenue, of the railroads. Ac,
cording to ''Poor's Manual the
freight earnings OF American
railroads last year were S1,S25,-
100000. Ten per cent of this
amount would mean over $780,
100000 increase in revenue. Net
earnings last year on freight and
passenger amounted to 1923 900
900. 1t is but reasonable to ex-
pect that the volume of traffic
will shortly begin to increase; in
fact, it has done so already as
shown by the smalle: number OF
idle cars. The railroads have al
ready put into effect many inn
portant economies, and while ex-
penses have been enormously in
creased by high wages, and high
materials, still the roads should
now be receiving the benefit OF
Improvements made for cconom-
ical results.
The money market continued
very easy and undisturbed by
either Government operations OF
gold exports Renewal of the lat
ter on a moderate scale was some
what of surprise. Fortunately
we have plenty of gold to spare
and the fact that our foreign in
debtedness is small, and that we
shall soon be shipping grain and
cotton more freely at good
prices, renders any important ef
hux of gold improbable. We still
retain fully one-half of the $780,
100000 gold imported after the
panic. The outlook for the gen,
eral market is favorable. A bet
ter investment demand is ir
sight, especially for good bonds
which at present level and in
view of the low rates for money
would seem to be desirable as in
Investments to institutions anC
wealthy buyers. Stocks have al
ready had big rise and are ex
posed to sharp beactions from
realizing; but as long as the mar
ket is free from crop and politica
scares the efforts to lift price:
; will continue. Those in contro
of the market are rich and pow
erful men who have not yet sue
ceeded in materially distributing
i Il Il