The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1909-03-15
BUSINESS REVIEW OF THE
PAST WEEK BY HENRY CLEWS

Many OF these who usually take the
initiative In Wall Street are either alb
sent or holding aloof awaiting new de-
ve&opments. The new administration
has already settled down to business.
and there is general feeling that
there will be cessation OF the disturb
ing methods towards great corpora
lions which have been SO prominent
for some time past. The Standard Oil
and the Missouri rate decisions, al
though they lad no great effect upon
the market. served to strengthen con.
fidcnce. 1t is believed that now the
harmful consequences Of radical and
extreme agitation against large corpo-
ratiOns are fully seen, that more tenn
perate policy will be adopted in deal
ing with ouch important matters. This
does Eot mean that there should be
the slightest icniency shown in the en-
forcement OF law against the large con-
Germs. but that Gs.nagogic attacks
should cease. and that the attempts
at conf.scatory legislation will be few
er and far between. In other words,
the hope seems justified that we are
about to enter period Of more ra-
tiOnal treatment CT the great economic
and financial problems CT the day.
Another matter uron which opinion
has largely cea.sgaa IS The tariff. 1t
can now be ten fcs granted that no
radical chances MI IL q tareel The
tariff, It mistt AZ Ri, aagstteas, is
In the hands OF .ts ssst ea wife
more or less tia ttY be
expended before a.fs a3s, "a e&l esi,
tn best Information coa.3 te be.sef
that the coming cEaase E..l be con-
paratively slight. SsrorS lreeeure is
being brought to bear 10 rreaent q
break in party lines. which would sure
ly follow any radical cuts, willie the
necessity of the government for in
creased revenues afforcs the stand-pat-
ters strong argument against any re-
auctions in actual revenue. There Is
every prospect Of a sharp conflict over
details. but manufacturing interests
are strongly organized and are concen-
trating their influence upon Washing
tom with a force that the average con
gresham is not likely to ignore. Sen
ator Aldrich appears to have the stu
alton well in hand in the senate, and
his known attitude on the tariff ques-
tion indicates that no radical measure
can be passed through that branch of
the Legislature. President Taft. is,
Of course. firm believer in protection
notwithstanding his desire for reform
and shares with the House a wish to
create as little disturbance in business
as possible by securing prompt and
moderate action. 1t is probable
therefore, that the tariff has been fully
discounted as depressing factor sc
far as Wall Street is concerned. Gen.
eral business. however. is still restrain,
ed by indecision, and cannot be expect
ed to revive until the outcome is fore
seen. When this happens. trade will
tain fresh start, and to some extent
the stock market ought to anticipate
such improvement
The next important element of con
sequence is the crop situation As al
ready stated in these advices. the
country's greatest need to-day is q bis
harvest. Prices OF all food and agri
cultural products are too high. great,
Increasing the cost CT living. and nc
recession can be anticipated until the
farmer gets to work and produces
more abundantly. This he can vel
afford to do. for farming has become {
much more profitable industry than in
former days. and there is sure to be :
ready market at profitable prices foI
all the grower can possibly produce
Our farmers should be shown that 1t i
for their interest to strive to the ut
most for large production. At present
they are the most. il not the only. pros
porous class in the country today: vet
they cannot Indefinitely prosper at thu
expense Of the other classes. and theil