Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1911-01-01

Building expenditures fell ) per cent
below the enormous 1909 aggregate
High prices of most products, and es-
pccially foods and raw materials, have
been sort of endless-chain burden to
generally, which free buying of some
generally esteemed non-essentials has
not entirely concealed. Perhaps the
best evidence that American markets
were out of line with the rest OF the
world was the reduction OF our export
,, trade in food products, which one time
constituted our strength i'll foreign
, trade. Colncidently, imports broke. all
records. this giving rise to the remark
that the United States was good
place to sell in but not SO favorable a
country to buy i'll. In this contingency
it has undoubtedly been fortunate that
F., our export trade in manufactured prod
uctS and III raw cotton has more than
! made up for declines in breadstutfs and
! provisions
| 1t will hardly be confidently claimed
: that home demand for food products is
! sufficient to take up the surplus produc'
J tons OF the country in year such as
| this just closing, and in view Of foreign
! cvn>petition, bred VI large crops i'll the
rest OF the worlds surplus-producing
countries. American participation i'll this
trade is hardly possible at present price
levels. The situation of affairs would
seem, indeed, to point to liquidation.
and past liquidation jn the stock market
may perhaps find Il counterpart III nat
! ural products. which seem to have adj
vanccd more largely than manufactured
goods, having possibly been affected by
the speculative spirit so much i'll evid--
cnce III securities markets i'll 1909. and
which. perhaps, found it's handspring III
the excessive supply of cheap money i'll
that year. If any such movement to.
| ward cheaper costs continues 1t IS hard
to see how labor can avoid contributing
thereto. In this connection a test may
perhaps be made of the theory advanced
by many. that the increased supply of
gold i'll the world has made for per-
manently higher range of all prices.
Pending an approximately final settle
mcnt of the tariff question, for which
one offered solution is the permanent
commission plan, something like repreS-
sion of the country's obviously large
productive capacities to fl, the compara'
lively narrow channels of small and fire.
uucnt buying for actual needs, rather
than large and confident anticipation OF
future wants. would seem i'll keeping
witt, the conservatism manifest III SO
many lines.
4 period of peaceful progress. and
of genuine cooperation in the restora-
ton of normal conditions Of expansion
in the country's activities. would seem
necessary if the general community Is to
reap the benefits OF the prosperity al
ways present in a country possessing the
r;,grifcent advantages of this one. but
which, like all comparatively new coun'
tries. experiences growing pains that t"
some unsettled minds pass for serious
ills OF the body itself. Quiet conserv-
atiSm and levcl-headed treatment of the
problems apparently pressing for sol'''
ton are to be cnjoined if the country
is to reap the full benefits of the read
iustnents already in evidence and those
to be met with. and. it is to be hoped,
satisfactorily made in 1911