The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1909-03-10
FINANCIAL NERVES
WILL Be SOOTHED


not been shared by others; it has
been chiefly class prosperity, whereas
true prosperity is that which is shared
by all classes in something approach
ing equitable proportions. Just now
the farmers are thriving upon the ne
cessities of helpless public. which is
passing through a period of more or
less adversity and depression. Upon
the poor the high prices of food pro-
ducts today are an exceeding hard
ship; and the contrast between the
average working man in our great
cities and the average condition of the
same class in agricultural sections is
very striking. showing differences that
should not indefinitely continue. The
new school of economics has been ar
guing that prosperity consists OF
scarcity and high prices This fallacy.
however, is being rapidly exploded.
Managers of some of our great trusts
fell into the error of adopting these
new doctrines much to their present
discontinue, and apparently our farm
ers have yet to learn the lesson that
true prosperity lies in abundance and
not in scarcity The country as
whole would be infinitely better off
with big crops at moderate prices than
are being paid today for the essentials
of life Therefore. one Of the first ne
cessities of the day is big crops. Ameri
can farmers should do their share in
promoting the country's welfare by
providing liberal increase in acreage
and securing a larger yield as far as
possible by improved methods of cult
walton. Possibly they would not obtain
so large a profit per bushel as in the
last harvest, but they, and the country
as whole, would prosper more under
big crops and reasonable prices during
1909 REIMBURSEMENT is quite as i'm
perative in the agricultural world as
in the industrial.
Labor Outlook unsettIing.
The labor outlook is somewhat un-
settling. Reduction of wages by the
Steel company has been
regarded as suggestive of what must
be expected elsewhere. OF course, no.
body wishes to see the rewards of Ia
Dor curtailed; but if prices are to come
down because of lessened demand, and
costs of production to decline in conse-
quence, it is difficult to see how labor
is to escape some share in the general
reimbursement. AS prices fall the pur
chasing power of wages will naturally
Increase, and labor will consequently
have compensation for the change. Such
however, are always
and provoke more or less
friction. The outlook at present
suggests a big strike in the
coal business. The men have made a
series of demands which are unreason-
able and cannot command public ap-
prevail. They are controlled by new
leaders under the necessity of making
hill IF ro1
years good work and good pay they
are able and inclined to a temporary
rest from labor. The coal companies,
on the other hand, are equally deter
mined to refuse these demands. The
of coal has been consid-
erably curtailed by mild weather and
dullness of trade; so that a considera-
BILE stock of coal is on hand, enabling
the companies to suspend mining to
advantage for several weeks. Both
sides are in a position to fight, and
both sides are apparently willing for
a test of strength. Under such condi
tons a struggle seems inevitable on
April 1, unless concessions not now
are made by one party or the
other.
Stock Market Neglected.
The stock market has been more or
ess neglected owing to the absence of
many large operators, to uncertainty |
tariff, and to the interest
to a change of administra-
ton. A better undertone is observ |
able, especially for desirable securities