The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1910-10-28
MARKET LETTER
OF HENRY CLEWS
NEW YORK. octoher 5. ~

The bettormont iu conditions pre-
viously referred TO in these advcos
has already resulted I'm a fair recov-
cry of values Within the past two
weeks many serious doubts disap-
peared or moderated; the market
showing consequent relief Among
these doubts We're the crops. the po-
litical outlook and the monetary DO
sition I'm an three of these respects
the outlook Is distinctly better than
a month ago. Corn is now practical
ly out of danger from frost. and
5000 100000 bushel crop is now as
sured. At 30 cents per bushel this
means the creation Of S1,50O.000 Of
new wealth. Corn is by all means our
most important crop, inasmuch as IL
enters so largely into the providing Of
food for man and beast, and is an ell
ement Of growing importance in the
industrial world. It also provides an
| immense quantity or freight for the
railroads, both in its crude form ami
the shape of meat and other products
Our cotton crop has thus far escaped
any damage from frost and producers
will be fully compensated by good
prices for any shortage in supply. The
South at least should enjoy uninter-
rupted prosperity.
AS to the political situation the
smoke of battle has much cleared;
the issues are plainly drawn, and the
forces arrayed on both sides can be
plainly seen. It may be said that
there is no longer any problem par
ticularly disturbing In the political
outlook. AS usual there is more or
less fiery and picturesque oratory; yet
| it should not be forgotten that such
| displays always accompany the cleo
lions, and that candidates once in Of
flee are much more conservative than
when seeking out votes Politics is
an enticing game, and often produces
| strange phenomena; its vicissitudes
are many, and it is noticeable that
those who figure largely in the public
eye before elections generally occupy
a minor part in the actual making Of
| legislation. One of the most en-
couraging developments in politics
| today is the better type of men which
1 are being brought forward into pub
lie life. The new leaders are a strong
contrast with those retiring 1t is not
only encouraging, but positively reas-
surfing that our people should show
such a marked preference for men of
traits prove our capacity for self-gov-
eminent and show that the country
is not likely to go very far astray AS
part of the political situation, it is
also refreshing to note a less radical
tone in regard to corporations and ca
pital. It is, of course, known that
decisions of great Importance will
soon be delivered from the Supreme
Court. These decisions will affect the
whole Industrial machinery of the
United States. The great combina-
tions may be obliged to change their
! organization, but no sane person de-
sires or expects any confiscation or
destruction of actual property Any
radical disturbance would mean disas-
ter for the entire country and disas-
ter which would fall upon labor and
capital alike Fortunately, President
Taft has appointed men of not only
high character, but of great self-poise
and judgment. The Supreme Court
cannot be suspected or being lacking
in sympathy for the common people;
and it evidently recognizes the i'm
portance of dealing justly by all in
terests and preserving the principles
and the liberty which have been the
basis of American growth and pros
perity.
Another satisfactory development
is the change in attitude of many OF
our great corporations. They are be-
ginning to realize that their great
power and responsibilities must be
used with due regard to public well
fare, and any organization conducted
in defiance to the latter and estab-
lished law must eventually paw the
penalty. The anxiety of many of our
corporations to be considered lawful
is noteworthy and satisfactory, and
the disposition to conciliate public
opinion in various ways is a most
wholesome and encouraging symptom.
The effect will be to at least moderate
public hostility and to diminish tho
reason for and consequently the dan
ger Of radical legislation. These are
forces which work quietly and are not
readily seen, but the changes refer
red to have actually occurred and will