The Calumet news., 1912-07-08
RADICALISM IS
ON THE WANE
REASONABLE TO BELIEVE THAT
STABLE CONDITIONS WILL
FOLLOW ELECTION
IN FALL.

New York, July S.--The Wilson plan
of tarin for revenue only is likely 10 |
prove disturoing, since manufacturing |
interests often need some protection |
10 equalize the high cost Of labor says |
Henry Clews. Revision may be ncces-
sary, but Il should come one schedule |
at time OF by some other gradual and
conservative method.
Aside from approach Of summer qlie !
and the vacation period, there are
sisns of better times ahead, EssentIa!
conditions are sound. There Is no
over expansion in either the financial
commercial or industrial fields The
political situation continues TO clear
! Each week makes il more evident tina
extreme radicalism is on the wane
| The country wants no excess i'm either
conservatism or progressiveism. 1t |
is evidently going 10 select at the neXi
election man who possesses the hap
ipy medium between these two policies.
! Of course la tie battle between two
political parties good deal Of smoke
and confusion must he expected. But
through the conflict there is rea
son TO hope that We are likely To
! emerge into more stable conditions
than have existed in the asst two cT
three years Progressiveism is estab
ishcd; not the kind that tears down
and destroys, but the kind that builds
(up and establishes institutions more
In line with the interests and will oi
the people than has been the custom in
the era which is now passing away
Capital mas been suffering for its past
misdeeds. The penalty has been Sc
| we're. In the future better standards
of business conduct will be impera
lively necessary, and 80 long as our
great financial leaders maintain a
closer regard for public welfare they
are likely to be less subject to the at
taclts of popular disapproval
Crops Will Be Good.
In commercial circles more at
tontion is paid to crops than
politics. We have had another
week Of favorable growing weather in
nearly all parts of the country, and tn"
agricultural outlook has been growing
steadily better for the last three or
four weeks. The confidence thus im-
parted viii tend To encourage mer-
chants To stock mp for a good fall trade,
which is sure To follow another profit
able harvest. our fruit crop is large.
SO, too. is the hay crop, anu prices are
high. Roth cotton and corn are late.
hut their condition is otherwise good
p land with week or two of warm
weather a large yield is almost ineyit-
able. Commodity prices are nigh aid
show a general advancing tendency.
chiefly, however, in metals and prod
ucts. the cost of which the consumer
only feels very remotely. In many
cases food products considerably
lower than last winter ling 10 this
being the growing season and quaint
ties frequently abundant Meat Is a
conspicuous exception. A slight Cessa
ton of activity has been noticed ia
the iron trade. but prices are strong
AT the recent advance and steel pro-
duccrs should be able To make a some
what better showing than was possible
at the recently low level Steel prices
however, are sttll very much below the
high prices Of two years ago. cop
per rs strong ard higher owing partly
to a better consumptive demand, but
largely to the combined manipulation
OF foreign and domestic interests.
Railroad Situation Improves.
The railroad sit,ation shows steady
Improvement Several roads report
decided gains In gross, although ne:
results are sometimes unsatisfactory
there will be no strike on part of the
operators whose demands for better
wages are now in course of arbitra-
ton. Bank clearngs indicate larger
commercial activity In all parts OF the
country; the weekly increases being
maintained In spite of lessened specu-
lative activity. There has been no
abatement in the expansion of our for
eign trade. which compared with a
year ago continues to show liberal
gains In both imports and exports. In
the fiscal years just ended their SOM
bined total was $4,000, 100000 a gain Of
Si2l. .00O. 900 over last year. The
growth of our exports of steel prod
{ ucts is particularly gratifying, not only
because 1t compensates for the loss in
agricultural products. but 1t demon
strates our increasing ability To COM
petition i'm the foreign markets. Solong
as our steel industry is so well able to
meet foreign competition IL need have
uttle fear of any change i'm the tariff.