Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-12-31
Looking Forward.

High prices Of most products, and
especially foot,s and raw materials,
have Lten u sort of endless chain bur-
den to labor. 10 manufacture and TO
trace generally. which free buying of
some generally esteemed non-essenti-
ais has not entirely concealed. Per
haps the best evidence that American
markets were out Of line with the rest
OF t.,e world was the reduction ot our
export trade in food products, which
one time constituted u:,T strength IL
fortign trade. Coincidently, imports
broke all records. this giving rise to
the remark tEat tic United States was
Il good plac" 20 SSH in but not 50 ia
N0rahlc d cnuatry 10 buy in. In TINS
cunt'n@enci II n.ts undoubtedly been
sfortunat" tiiat our export trade in
manufactured products and in raw
cotton mas more than made mp for de-
clines ia irt&dstutfs and provisions.
1t will hardly be confidently claimed
that home demand Tor food products is
sufficient TO take up the surplus pro-
ductions OF the country in a year such
as this Just closing. and in view OF
foreign competition. bred Of large
crops in the rest ui the Wor!uS sur
plus producing countries. American
participation in this trade is hardly
possible at present price levels. IN"
SITUATION Of affairs would seem. in
deed, to point to hQuidatiHn being neg
essary in costs Of production. ana past
liquidation III the stock market may
perhaps find a counterpart in natural
products. which seem t. hay" ad-
v7nced more largely than manutac-
turel goods, having possibly been a.
fcctru bv the speculative spirit 50
mach IN evidence in securities mar
kcts ia 1899, ana which. perhaps,
found its r1ainsprin@ in the excessive
supply of cheap money in that y"ttr
If any such move m"nt toWark cheaper
costs continues ii is hard to Sc" now
la Dor can avoid contributing thereto.
In tins connection q test may perhaps
b.. lpadc q the theory advanced y!
many. that the increased supply 81
gold in the y l!h has made for 4 r@r-
mancntIy higher range of al pi2ceS.
PcnIing an approximately ina! settle
mcnt OF the tariff question. lof WHicll
one offered solution is the permanent
commission plan, something llHe re
preston If the Couutr. nbFl"o#i!
lar.c productive capacities !" Ut the
crInparatiynly marrow channels o!
s,nau and frcuuc nj buying fer actual
needs, rather than large aild crnfi4Chl
anticipation OF future j ants, N"N'u
seem III keeping with The Conservatism
manifest in 50 many lines.
A period NJ pt acclui progress, ana "i
genuine cooperation il the restprail"h
of normal conditions Of Expansion 10
the cauntry'S activities. WouiC seem
necessary if the general commCnltE IS
to rear the BENEFITS Of the prosperity
aiW;.--s present in q :ou1try possess
ing ,ne magnificent advantages Oh inns
one. nut which, like. all ramnaI2nNei!
nev countries. experiences growing
pains t;iat to Somc unsettieu nun .
pass for serious ills Of the body ltSel.
Quiet conservatism and !eVei-he"oeu
treatment OF tie problems apparently
pressing FOR solution are TO De en-
ioin al if TIE country is to reap the 1uil
benefits of the establishments ALREADY
in eyidenca and those to be met "ltE'
sad. il is to be hoped, .satlsf"t t'rilS
maze in 1911.