The Washington times., 1910-10-16
By JOHN GRANT DATER,


substantial basis Tor Improvement
In this connection the only dIscordant
note is in relation to cotton, and not in
this case in respect 10 the indicated har-
vest. Of say 10000 bales, which is an
average yield, but in the strangle hold
which Spectators have obtained on that
commodity, and 10 the unprecedented
advance in the staple which Is working
injury 70 the textile industry, by rails
ing prices and curtailing output
The statement Of agricultural exports
Tor september shows an increase in
the value OF commodity shipments Of
$5s1OO,OO0 as compared with Augustus low
figures OF course. the trade balance Of
the month is not determined by the
shipments Of farm products alone, but
the marked gain as above reported leads
10 the belief that wnen the complete
hgures including merchandise exports
ana imports come TO hand, IL viii be
found that the country has again estab-
ltshed credit balance of trade abroad.
II such is the case n cannot be very
large. but any merchandise credit bal
ence at all would be important In show
ing an improving tendency. in a direc-
ton where Improvement Is a prime
essential.
The higher price Of cotton will natu-
rally aid the export statement tempo
rarily, but the best and most enduring
result will come through the adjustment
OF corn snd wheat and meat produces
10 a lower basis Of price, which is nc :
In progress. This should facilitate
abundant and sustained shipments.
which viii go toward adjusting TIE in
teraational monetary situation, which
Is one OF the most perplexing Of the
future problems.
Political Considerations.
To what extent II at all, political con-
siderations entered into the market Of
the week remains an undetermined
question. In some quarters Of Wall
Street there was a disposition TO at
tribute Improvement 70 the sentiments
expressed by Mr.. Dix, the Democratic
nominee for governor, in his speech OF
acceptance. and among the trading eie-
ment one heard the opinion freely eX-
pressed that prices were discounting Mr..
DiN's election. Banking interests are
not wholly IN accord with the view OF
the case, or, az least. IL so. some OF
them dislike 10 have the impression 20
forth that Wall Street is banded in an
alliance with the Democrats 10 defeat
Mr. Sttmson because OF his affuatiou
with Colonel Roosevelt.
carried 10 its logical conclusion, Il
nNeS not reject any great degree OF
CT edit upon Wall Street a supposed Re
publican stronghold, that IL goes over
body, boots, and breeches TO fts beredf-
tary enemy, because n resents Colonel
RooSeveits efforts TO free their party az
dishonest men and Introduce honest =
and square dealing IN political and cor
porauon affairs. Throughout the courf-
try no love is lost over Wall Street. its
men OF its methods. and though the hos
tllity Is often without Justification and is
at times utterly unreaSOna bic, IL is vel!
appreciated IN some quarters that the
present opposition OF Wall Street and
that OF It's alphabetically controlled or
gans 70 Colonel Roosevelt and the New
NaUonalism." is better calculated 20 aid
than TO tnJure his cause 8Ith the masses
throughout the country.
Freight Rate Advances.
Bankers who recognize Colonel Roose-
velts resourcefulness and who realized
even before the Dunkirk speech what =
powerful argument he may make for
Mr.. Stimson by directing attention 10
Wall Streets opposition, ignore the pos
slbility Of Mr.. DiX's election in discuss
ing the reasons for the markets i'm
provement. and in ascribing causes for
the advance lay stress upon the com
paratiVely low range Of prices, at pre-
yailing dividend rates. the abundant
crops, and the prospect Of railway rate