The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-09-04
BIG BANKERS SEE NOTHING
BUT PROSPERITY

The acknowledgements Ma
+IonaI Bank. ChieagO-s new, cOHsOli-
dated. two hundred million dollar
banking corporation. sees nothing but
nro5peritv ahead for the country 1t
has lust completed an investigation OF
crop and business conditions Of the
Middle West. South, Southwest, West,
and Northwest, and it bases its con
illusions on replies received from let
tiers TO bankers. manufacturers, and
merchants of these sections, and upon
information obtained through its
Eastern financial connections The
hank has issued a carefully written
booklet. entitled Crop Reports and
General Business Conditions in which
its investigation Is summed up IN these
words;
II the corn and cotton crops fulfill
/ their present promises, the country
will have another year Of substa n llal
ur0suerItv. The Northwest has been
I hurt By q short crop, as 4eNaS anu
C.J-fsg7Cr7a were last year. but the
LATTER have done well this year, anu
a good average for the WhOie COu4IL y
seems TO be practically assured. ne
Industries and enterprises OF Ine
( rC.74T-ry viii 80 forward upon this
with renewed confidence ana energy
The author Of the booklet discusses
the disturbing influences that mani
tested themselves in the first half Of
/ IgIO- and attributes them to the exces-
sive optimism of the business world
in the fall Of 1909 It Is true that soon
after July last year the evil effects
7 Of the panic seemed to disappear, and
I that in all lines OF business plans
were made for a banner year IN 1910
The Chicago bankers believe that pos
/ siblv the country overdid itself in
preparations" They admit that the
/ first half of 1910 was disappointing
! but assert that Judged by such in
dices as bank clearings, postal receipts
railway tonnage, building statistics
iron and steel output, demand fOI
labor. and the tendency Of wages, the
country has been forging ahead at an
UnexampIed rate"
The replies received by the bank
from the small cities and towns are
particularly significant, as showing
that we are standing on broad, sub
stantial foundation. On this point If
Is stated:
/ Despite some unfavorab bic develop
ments, and Notwithstanding some
disCOrdant notes. the general tenor
OF replies to our letters of inquiry IS
confident and encouraging Inc
country is prosperous Ihere IS worF
plain that production Is restricted FOL
I want Of labor The concern felt some
weeks ago as to financial condition
IN crop-mOving time has largely dis
auueared The liquidation tht
New York stock market has released
large amounts OF money Not Onil
have gold exports been checked bu
! gold imports have begun with con
ditf0nS upon the other side such tina
large amounts can be had II needed
The country banks are in gOpd con
/ dftiOn. and the strain at one tim
apprehended has been 2VeTIed D-
changed conditions. 1t Is common
expression from the small sr cltle
! and towns that nothing IS KNOW
/ there of business reaction or o
threatened trouble, save what come
from the few large centers- To then
B the country seems very proSperou
. and conditions sound
It Is encouraging to receive such a
optimistic report on crop and bushes
= conditions Primarily, It's optimism
p based on the outlook for a big produc
E ton of food supplies and cotton Tn
s promises to swing the balance o
r trade" back to the United States
- Even If the report Is a triie more Tos
b than one is willing to accept unquali
!, fedly, the banks booklet should go