The Cairo bulletin., 1910-03-21


poets are that D very large acreage
will this year be devoted to the rai-
ing OF food ami other agricultural
products; and every farmer will in
crease his output to the fullest ca.
pacity IN order to get advantage Of
present unusual profits. This means
a good demand for agricultural ma
chinery, fertilizers, etc. What with
the chance OF increased supply oil
foodstuffs before many months, and
the economies which in many case
necessity viii enforce, it would seem
as If the present economical cri IS
was at or near its apex and that be
fore long we shall zee better rela-
tion between supply and demand
that will at least afford some relief
from present circumstances. Tie
winter has been favorable one for
crops, and conditions FOR large
harvest are certainly better than a
year ago The monetary sluatlon
will also soon work out its own re-
lief. Funds which are now being
sent to the interior win be returned
by the middle OF April, and from
thence on we should have period
of comparative ease until the regular
harvest requirements begin to assert
themselves.
Our Foreign Trade.
Our foreign trade situation con,
tinues very TN satisfactory, In Febru-
AIRY the exports amounted to $685.
100000. the smallest in that month
since 1906. Our imports in the anne
month were $120,000o 900, the largest
February on record. The net result
was an excess OF import Of over
100000 compared with an excess
of exports Of last year Of $7,00000O,
and an excess of $83.000,00o in 1908,
This persistent deficiency of exports
is. Of course. explained by the alb
normally high Jewel OF agricultural
products, which Restraints exports
while high prices and trade activity
naturally stimulate imports The
balance which has been running
against us for many months must, OF
course, be liquidated by some means.
1t is hoped, however, that securities
will go abroad in large amounts and
thus lessen the immediate future of
gold SHIPMENTS. We win have to
send gold to Europe when interest
rates here decline, but the loss of a
moderate amount would cause NO
uneasine for the rea on that we
are large producer of gold and al
ready possess good supply of the
precious metal. A continued efflux
of gold, however, would be regarded
as an unfavorable Indication, mas
mpch rs it would tend to weaken
bank re erves--the ba is of credit.
~ Valves Unsettled.
Stock exchange values are likely
to be unsettled until preparations for
April settlements are completed and
money begins to grow easier. The
large output of new securities is, Of
course, adverse to the stock market,
although the fact that such large
amounts have been so promptly alb
sorbed shows confidence on the part
of banlers in the financial situation
and should ultimately DE reflected
favorably for investments generally
These di. bursements also mean a
good demand for labor and liberal
orders for railroad materials. The
present unsettled tendencies In the
market can only be regarded as tenn
,porary. With the approach Of spring
and consequent resumption oi
. commercial and agricultural opera
tons: and with the return Of absen
tees. invigorated by a season d
rest, we look for 4 renewed upward
movement on the Stock Exchange
That, however, will not begin unit
the return Of crop money starts bach
to this center after the middle 81
April.
HENRY CLEWS.