The Birmingham age-herald., 1909-05-25
GREAT FINANCIERS PREDICT GOOD TIMES Unanimous In ForecaSting Re-
 turn to Normal TARIFF IS ONE OBSTACLE Wheat Crop Win Be Somewhat Re- duced But Prices Will Aid In
 Bringing About Era of
 Prosperity.
TARIFF IS ONE OBSTACLE

. Chicago, May Special IA dis patch to the Record Herald from New York says;
 } In one grand chorus the captains of industry of America announce the glad , tidings that prosperity is returning, that the tide of good times is rising rapidly. There is not a discordant voice in the ch orus. Merchant builder, banker. broker, manufacturer and saw ings bank president proclaim that the new era of prosperity. the business of good times, Is right upon us.
 But let them give their testimony themselves and tell on what they base their assertion:
 Franklin Macveagh, Secretary of the Treasury: The report of the monetary commission will be based on thorough and intelligent study of the commercial and banking systems of this country and Europe, and I feel certain that thu result will be gratifying to the business interests of the United States. So far as the administration is concerned it is approaching currency reform with an open mind and is being guided by an intelligent study of experiences in the 9dSAiltSS WOI1Q. IIe DuSlutSS SiludllOH Is d very hopeful one and there is nothing in sight but reasonable, ration al prosperity. We are making a new study of our financial resources for gov ernment maintenance and with 1t & l systematic study of government ex- penses. so that by applied intelligence We can make one balance the other and quiet any disturbance over treasury deficits.
 Hill is Optimistic.
 James J. Hill, chairman of the Great Northern railroad: The outlook is good in all directions. The Great North ern road runs through a district that sup plies one-sixth of the wheat of the United States. The wheat outlook is good. 1 do not think there will be a big crop but it promises to be fair one Heavy snows that lasted late into the spring prevented blowing, and after | the ground was ready many farmers put in oats and barley instead of wheat l So that the loss is in wheat acreage l rather than in failure of crop, and for l this there are compensations. The l west and south are to be the great l 3ectiops of this country in the future. The west is now for that matter. The south exhausted her soil before the war by her improvident method of az riculture and Is now struggling to- ward a restoration of 1t. When the tariff agitation is over in Washing ton things will begin to hum.
 Await Tariff Settlement.
 Cornelius N. Bliss of Bliss, Fabyan & Company, selling agents of the larg- est textile mills in America and form CT treasurer of the republican national committee: Business is all right; not 1 big, not rushing just yet, but I expect 1 to see a good average fall business. | We are between the seasons now. Activ- | ity should bein about July in prepara- | tlon of orders for the fall trade and | the only thing that may hold us back | is the tariff. Nothing much can be | shaped up so long as they hang on to that in Washington. As soon as they pass the ball, no matter how they set tie it, business will pick up. That is all it is waiting on. Stocks of mer- ch handise are low everywh ere and it is | only reasonable to expect that they will be replenished now. as doubt of the future will be removed with the tariff out of tl.e way-no matter what the tarin Is, 30 long as 1t is passed.
 Not Cloud In Sight.
 Henry Clews. banker and stock broker: Stocks are selling at prosperity prices The stock market is always some months ahead of actual business conditions, be- cause Wall street discounts the future l do not see a shadow on the country prospects, and though there has been suffering and great many people everybody more or less-have been hurt
 financially, I believe it was all for the best. We are not likely to get hurt twice
 in the same way, and we shall now use more safety appliances in business. The long period of liquidation in all lines of business as well as in stocks and bonds
 has laid a solid foundation on which to build again When activity begins in real earnest there will be more of 1t than ever . before, and it will be of the substantial . kind, freer from uncertainty and feverish
 speculation I look for a wide healthy I expansion of industry early this fall Nothing but great disappointment in the wheat and corn crops can prevent
 it, and we have no ground for apprehen- sion on that score Winter wheat was not what it should have been in amount to give us full assurance, but the re- . sulting high prices caused an unusually large acreage of spring wheat to be
 sown, so that on the whole we shall probably get an average crop, and 1t
 would not surprise me if we had a banner crop of corn, which would be to exceed | 3,000 100000 bushels.
 Sunlight, Says Gary.
 n Ebert H. Gary, head of the United
 States Steel corporations We will soon be
 on the high road to prosperity. The mists are clearing away and we shall soon . see the sun of prosperity bright as it @ ever has been. I have said all along Q that this country could not long remain
 inactive and given up to sad reflection
 but that a new day would find us up and Il doing. The day Is due. The clouds that d have been hanging over business for the Q last Is months are broken and we have
 sunlight again.
 = Good Demand For Steel.
 William E. Corey. president of the l. United States Steel corporations Since early March there has been a gradual l and well sustained improvement in the D steel industry The subsidiary companies are now operating a basis of about 75
 per cent of their normal capacity, which
 Is the highest since 1907. There is every indication that this improvement Is due
 to a natural and healthy demand for our 9 products, and with average crops and T an early settlement of the tariff we con I fidently expect speedy return to normal conditions The tendency of prices is dis tinctly upward, but the movement in this direction will probably be and should be a gradual one.
 Birmingham Special, the
 convenient train to the East