The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1912-01-16

in high grade securities in order to
keep their money employed until bus
mess and idle money act as a partial
support to security values. General
trade continues quiet. Collections are
slow, and while conditions are gener-
ally considered sound, there is slight
expectation of any material improve
ment until the political situation is
clarified, and the outlook for next
seasons crops can be somewhat
guaged. 1t may as we'll be taken for
granted that there can be no real re-.
vival in business unless the country
has a good harvest next season. So
far conditions are satisfactory and re-
ports from the interior indicate that
throughout the Northwest the condi.
ton of the soil is excellent.
The political situation is still the
chief obstacle to business improve
ment. Capital is undeniably timid,
confidence having been impaired by
the repeated attacks against numer-
Gus Industrial corporations and
threats upon others. Our corporations
can easily adjust themselves to the
law when that is understood. They
are already adjusting themselves to
requirements Of the Sherman law
and IN many cases that adjustment is
already complete. The Sherman law
much as it has displeased some of orr
industrial magnates, has had no such
deterrent effect upon business as the
repeated attempts to Cypress CORPORA
lions by unwise restrictions. bv on.
presslve taxes and by the mania for
investigations. Capital has been
struck right and left, and is conse-
quently sore and timid; hence. enter.
prise lags, initiative is checked and
the number of unemployed increases
rather than diminishes. There is M
doubt the country is thoroughly weary
or tactics, much of which donbtless
practiced for political effect upon the
ignorant voter who does not and can.
not know the evil consequences of
such methods. The country needs a
period of political rest. If LET alone
business will quickly adjust ITSELF to
new requirements and obey the law
inquisitorial proceedings. inspired bv
malice or for political gain should he
strongly discouraged. When given a
fair chance business is ready to take
fresh forward movement. Condi.
ions are generally sound because we
nave had fully a year of liuuidation
and contraction. For over sly mon+bs
at least, if not longer, business has
peen conducted upon strictly CON-
sentative lines. There has been no
excessive speculation. Although our
capacity is greater than consumntive
powers there has been no general
oVer-production of manufactured ar
ticles; and there is no reason. az al.
ready said, why considerable improve.
ment should not follow the clearing
Of the political skies and the assur-
ance of good crops.
The international monetary outlook
IS becoming more interesting. Con.
dltions are much more comfortable
here than abroad, which means that
IN case of assistance being necessary
Europe will probably look in this di-
rection. Europe is already a consider.
able borrower on this side, and the
ease of conditions here favors q 70.
newal of foreign loans. Nevertheless
the European situation Is not entirely
satisfactory owing to international
complications and jealousies. Russia
france, Germany and England each
have their own interests to protect in
various parts Of the world. and the
important changes which are taking
place in China, Persia, Turkey. Tri.
poll and elsewhere are all signs of an
unrest and progress that threaten a
disturbance Of former relations. Tn.
ternational politics are in a state of
decided fiux, and the foreign money
markets are much more susceptible
10 such influences than our own. New
YORK is bound to feel the effect of any
unexpected strain arising from such
conditions,a notable example of which
was furnished last summer during the
friction between England and Ger
many. 1t follows, therefore, that the
foreign situation will bear close
watching, particularly as the United
States is becoming more and more a
actor IN the family of nations and |
cannot, If it would, any longer pursue
me old policy of isolation. Whether
we like.it or not We are becoming an
active participant in world develop.