The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-04-06

ulation of new gold which has been
made within the past twelve years.
That, however, is not the view of the
British chancellor of the exchequer.
In his opinion, this golc has been rap
idly absorbed in normal and healthful
channels of trade. He believes that
this gold serves to explain in great
measure the healthy trade conditions
now prevailing everywhere. He is
certain that it is the new gold which
has made it possible for such heavy
purchases to be made of English COM
modities as have characterized cana
da, Argentina, Australia, South Africa
and other countries.
When introducing his subject Lloyd
George found it expedient to speak
of conditions in the United States. In
his view they are very gratifying. He
regards our trade, business and finan-
cial conditions as in better shape
than at any time in recent years.
He expects to see constantly increas-
ing international commerce carried on
by these two nations and apparently
he has been informed by Americans in
whose judgment he has confidence
that even the politics of presidential
year is not likely seriously to effect
trade relations between Great Brltaln
and the United States.
The Lesson for This Country.
Perhaps the most important of the
observations made by thinking men
who have carefully studied our COM
merciaI and political conditions In the
year 1911 was one which seemed para
doxical. Violent political and in some
cases demogogic agitations were IN
progress, not in any one particular
section of the country, but here and
there throughout the United states
The business world professed to be IN
doubt whether or not it could do TINS
or that thing without violating the
law The supreme court had adJudi-
Gated two of the largest corporations
in conformity with the view taken oy
the Observation-Disclosures that they
are illegal The administration decided
to bring suit to dissolve the worlds
greatest business corporation-the Uni
ted States Steel corporation.
Conditions of this kind, SO far as they
went, resembled the radical and, as
some thought, socialistic agitation
which prevailed in Great Britain The
complaint was frequently made in the
United States that business was poor
and in many cases stagnant.
Yet when the statistics began to be
published early in January they seem
ed to refute the statement that bust
ness had been wretchedly poor. Thelr
clearings for the year did not show
that And the record made of our in
ternational trade surpassed any other.
We apparently accumulated visible
trade balance of a little over 500 mil
lions. and the estimate is that in the
present uScdl year, WHICH SAluS June ov'
the visible or apparent trade balance
in favor of the United States will
amount to almost record breaking fig
ures, certainly as much as 500 million
dollars.
The fiscal operations of the federal
government have been satisfactory.
Unless the proposed tariff measures
become law it will be unnecessary to
propose any new form of taxation.
These figures clearly demonstrate
that what has been taking place in
Great Britain in the past year is char |
acteristic of what has happened in the |
United States. There have been nc
colossal or overwhelming reaches OF
business, but we have done a business
which has enabled US to export COM |
modities of the money value OF two |
and a quarter billion dollars-almost !
half of which is represented by our ex |
ports of manufactured products. APP |
parently in spite of political agitation |
and judicial and administrative activi |
ties deigned to take whatever evil there |
may be in great business combinations /
out of them, the United States. like |
Great Britain, had on the whole a pro-
fitable year.
The wonder is whether this can be
explained as the British chancellor OF
the exchequer explained the prosperity |
of England-as in great measure due
to the enormous Injection of new gold |
into the currency of the world One
thing is certainly demonstrated by the
experience which Great Britain and the
United States met with in 1911-the
great body of both nations is earnestly
tries and has faith in its ability to
them
HOLLAND.