Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-08-27
The Improvina Times.

| The financial and industrial outlook
at this time is felt to be improving
daily. Trade papers agree in chronicling
an Improvement in sentiment" Re-
tail trade has begun to quicken: or
ders are increasing in jobbing lines;
buyers are appearing. and travellers
are out. The great current of distri-
button has begun to move and the
reports from trade centers far and
wide are of increased volume and are
more hopeful. Crops are vsibly bet
ter. spring weather it not as badly
hit as thought a month ago. winter
wheat is better. corn promises a large
crop, cotton is undoubtedly a fair al
though not a large crop. but if the
season continues long enough it will
be large one.
A widespread belief that things are
making them. Aggregate bank clear
ings outside of New York are level
with last year, but the average of
prices is lower so that the total of
commodities moving is no larger. AS
expenses are larger the net must be
| smaller.
The causes for the present rest in the
volume of trade and traffic are clear
Comparatively light wheat exports
are going abroad, the iron and steel
output has been decreased the output
of steel rails for the year will not be
much over half the capacity; cotton
warn mills in New England are run
ming through August at less than so
percent capacity. Wooden worsted
mills until the present week have been
running at not over so percent Shoe
plants are doing from 20 to 80 percent
of full output. Southern mills are
dropping week out of August and
| another out of September New Eng
| land mills which have been shut down
are working on short time until within
| the last few days when the, tendency
night and day operation.
But the tendency is right for this
| time of year and porpects are good
| for lively fall and winter in both
financial and industrial affairs Man
| ufacturers' materials imported since
| the enactment of the Payne tariff law
| in w of
any corresponding period in the history
of the country. The logic of results
as recorded in customs returns makes
the first year of the Payne act show
above those of the banner fiscal year
1897 and $15, 100000 in excess of receipts
for any other year of our national
| life. There was a deficit of $5S 739, 955
in the fiscal year ended June so, 1909.
There is a surplus for the year just
passed of more than $2O,000,000. Thus
the tariff has turned a deficit into a
surplus. 1t has been a successful rev.
enue raiser and therefore accomplished
the primary purpose for which i'm
port duties are levied
While great cry over the cost of
living has swept over the country
through the efforts of certain news
papers and magznes an extraordinary
Expenditure on luxuries and comforts
makes it evident that many groups
and sections of the population have
not felt the pinch nor been driven to
economize. The record breaking tides
of tourist travel, the automobile boom
| and the heavy increase in importations
of art works. diamonds, furs, etc. are
an evidence of general prosperity
| which there can be no gainsaying
| From a financial and industrial stand
point We We're never better off and
as soon as midsummer dullness
| in some lines of activity is over
there is no doubt that We shall
enter upon an era of prosperous bus
| mess throughout the country equal to
that of any recent period.