Bisbee daily review., 1911-09-14
THINGS LOOK BETTERI
 WIDE WORLD OYER
An Unusually Optimistic View of Situation Expressed by
 Henry ClewS
AT HOME AND ABROAD

l The Henry Clews weoklY financial
 letter of the date of Sept. g is more optimistic than any of its predecess ors. It states:
 At times more cheerful tone pre-. vailed in financial circles. The labor | outlook is less threate.lins and pres ent indications point to an alflst. ment of Western trouble without re- sort to strikes or violent methods l There is also a decided betterment ] In the Moroccan situation. Industrial ] considerations alone rendered war be. tween Germany and any other great ! power improbable. Germany is Dee. occupied with great :nternal develop- ment and has made large financial ! commitments in consequence. War would seriously complieate, if not i'm | pair, these obligations; cause serious financial distress, and throw large numbers out of employment It is eyi. dent that some sort Of an information. l al adjustment is close at hand, and ! II Germany secures certain economic | advantages in MoTroco. together with l assurances that no other -power will | lay hands upon that territory. she Will doubtless be satisfied and the present controversy soon pass into history.
 Cheering Western News. Within the last few days advices from the west have been more cheer. Ing. Discouraging news has subsided and indications of moderate trade re. viyal have already begun. This, of ] fE e1 Is proving more satisfactory than at one time deemed probable September thus far has been a month of steady improvement for crops in nearly all sections Of the country. Recent re ports of the government on cotton and other crops were certainly unre- liable, because they included an ex. cessiye amount of bias, which should have been carefully excluded by the government experts. It is impossible to believe that the condition of cotton declined 16 points in August, and the department officials ought not to have been nisled by the extraordinary ef- forts in the south to exaggerate crop damage. This campaign of deception may easily prove a boomerang, for should the farmers find they have been deceived by the not disinterested advice to hold cotton for I4c they are likely to rush their holdings into the market when they awaken to the act. ual facts, which means a full if not very large crop.
 Good Crops.
 Better reports are forthcoming con cerning the iron trade, which showed an increase of I33. .0O0 tons in produc- tion of pig iron during August There may have been some irregularity in prices, but concessions have certainly stimulated orders, and this of itself is encouraging. Conditions are also unusually favorable for export trade, and it is worthy of note that in July our exports Of iron and steel were valued at SlS,000,0O0 compared with Sl6,o0O,000 a year ago. In the seven months of the current year ending July our exports of iron and steel have amounted to s144,000,0 600. an jn- crease of s32.0O0,000 over last year. Here is safety valve of no mean i'm pOrtance, not only to the iron and steel industry. but also to the foreign trade of the country, which needs some compensation for the possible loss in exports of agricultural prod ucts. The latter are bound to decline as the population of the country ex- bands; hence it becomes all the more necessary that we should be able to export manufactured products in or der to pay for our necessary importa tions and to preserve our balance of trade
 Troublesome Tariff.
 With the adjournment of congress there is a welcome cessation of the az itations and investigations which have so long harrassed the business world. Congress will not reassemble for an- other three months, during which per. iod We shall have a rest from useless and irritating political meddling There are signs of a reaction in the latter respect. Politicians in some sections Of the country are awakening to the fact that the driving of capital into hiding by persistent attacks throttles enterprise and thus aug meHts trade depression and the nun Der of unemployed Capital is neces- sary to the quickening of industry, and it would not be surprising if some of the states took the lead in moderating present unduly oppressive legislation. especially in the South and Far West When congress opens there will of course be much talk about the tariff. The fact that it is the best available political asset makes that discussion inevitable It is not likely, however. that there will be any serious readjustment of the tariff un- til after the next presidential election In all probability the taTiff will bel the burning issue in the coming presi- dential campaign. There will be much talk and little action"