The Cairo bulletin., 1909-03-15
Special.


New York, March 13.-Many of
those who usuelly take the initia-
tive in Wall street are either absent
or holding aloof awaiting new deyel-
opments The new administration
has alreday settled dow nto business
and there is a general feeling that
there will be a cessation of the dis
turbing methods toward great cor
porations which have been so prom
inent for some time past. The Stand
ard Oil and the Missouri rate decis-
ions, although they had no great eff
feet upon the market, served to
ed that row the harmful conse-
quences of radical and extreme agi-
tation against large corporations are
fully seen, that a more temperate
policy will be adopted in dealing with
such important matters This does
not mean that there should be the
slightest leniency shown in the en-
forcement of law against the large
concerns. but the demogogic attacks
should cease and that the attempts
at confscatory legislation will be
fewer and far between. In other
words, the hope seems justified that
we are about to enter period of
more rational treatment of the great
economic and financial problems OF
the day.
The Tariff.
Another matter upon which opiQ-
ion has been largely centered is the
tariff. II can now be taken for
granted that no radical changes will
be enforced. The tariff, 1t might rs
we'll be admitted is in the hands Of
its friends; and while more or less
time and temper may be expended
before agreement is reached, the
best information confirms the belief
that coming changes will be com
paratively slight. Strong pressure is
being brought to bear to prevent
break in party lines, which would
surely follow any radical cuts. while
the necessity of the government for
increased revenues affords the stand
patters strong argument against any
reductions in actual revenue. There
Is every prospect of a sharp conflict
over details; but manufacturing in.
tercsts are strongly organized and
arc concentrating their influence up
on Washington with force that the
average Congressman is not likely to
ignore. Senator Aldrich appears to
have the situation well in hand III
the senate, and his known attitude
on the tariff question indicates that
no radical measure can be passed
through that branch of the legisla-
ture. President Taft, is of course. a
firm believer in protection, notwith-
standing his desire for reform, and
share with the house a wish to ere
ate as little disturbance in business
as possible by securing prompt and
moderate action. IT is probable,
therefore, that the tariff has been
fully discounted as depressing fac
tor so far as Wall street is concern
ed. General business however. is
still restrained by INDIGESTION and can
not be expected TO revive until the
outcome is foreseen. When this hap
pens, trade will take a fresh start,
and to some extent the stock market
ought to anticipate such improve
ment
The next important element of con-
sequence is the crop situation. AS
already stated in these advices, the
country's greatest need today is big
harvest Prices of all food and agri-
cultural products are too high, great.
ly increasing the cost of living, and
no recession can be anticipated until
the farmer gets to work and produces
more abundantly. This he can well
afford to do, for farming has become
much more profitable industry than
in former days, and there is sure to
be a ready market at profitable prices
for all the grower can possibly pro-