The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1910-10-24

! problem Will be solved along lines
that recognize rights of both rail.
roaGs AMI shippers, and that justice
will be dealt out as evenly as posi-
bic to each and every interest,
Our Foreign Trade.
Our foreign trade is showing a
livery remarkable and satisfactory
change towards more normal condi-
tons, This was nearly $15,030,000 IN
excess OF last year, and was probably
the heaviest September on record.
The increase was partly due to heavy
cotton shipments. Imports during
the same month amounted to only
| $117000000, a decrease OF nearly
s4,o00,000, compared with last year.
The net result Of the month was an
excess OF exports OF s51, 100000, com,
pared with $33,000,000 in 1903 and
nearly Sa1,000,0o0 in 1908. This
change in the tendency Of our foreign
trade IL wholesome and significant.
For a long period, owing chiefly to
the high Jewel OF prices here, the ten.
lency has been for imports to in
crease ard exports to diminish. thus
creating surplus of IMPORTS instead
of exports as usual It is quite pos
sible to have a satisfactory foreign
trade in which imports exceed OF
equal exports, for all foreign trade
In the final analysis is barter, and
cannot be continued unless mutually
profitable. But the United States
has always been an export country,
owing to its surplus Of agricultural
products. With the growth Of popu
lation 1t is certain We snail gradually
change in this respect, and If we are
to continue importations from abroad.
as We must, il will be necessary 10
US to prepare to make payments g.
larger exports of manufactures 10
compensate for diminished agricuInl
raj exports
The Money Situation.
market has now disappeared. rem
porary stringency may occur between
now and the first of the year, and
the Importance of the advance IN the
Bank Of England rate should not be
overlooked, II is Il warning tha
must be needed II all reports are
ttI,a opucfInral,1a ouN<,,,.a e A.i
can finance bills have been placed
abroad, and should Europe liquidate
American stocks with any freedom
We might find ourselves shortly ex-
porting gold at a season when i'm
ports are customary. On the other,
hand, funds withdrawn for crop NOV
ing purposes win soon begin to re-
turn from the west, and with lower
prices for commodities and the les.
senad activity Of business there
should be no scarcity of loanable
funds The excess OF loans over de-
posts in some sections Of the coun.
fry is an Indication of unsatisfactory
conditions watch in time will prob
ably right themselves. The fear of
a local crisis waich hung over tins
all sCmn err, has now entirely
General business con.
tlnucs quiet, and IT will be- some
weeks, If not several months, before
the full effects Of a good harvest dis
play themselves, especially as the
process Of readiustment to new con
lltions Is not entirely completed AZ.
ter tho elections it would not be sur.
prising if moderate resumption off
activity We're to occur. The improve.
ment In the security markets will un-
doubtedly act as stlmulant: and
the stock market 1t snould be remem,
bered has d aab!t Of discounting srch
recuperatiions in advance. II is
doubtful If the rise in securities has
yet reached its elimination, but after
the recent advance moderate re-
action Is not unlikely to be followed
later on by another upturn, proyld-
Ell the present leaders retain con-
troll.
HENRY CLEWS.