Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1912-07-23
OUTLOOK FOR
Big CROP IS
Main FACTOR
Business Encouraged Says
Henry Clews In Ills
Weekly Review
Money Situation Is Somewhat
Improved Over Other
Years
Foreign Trade Shows 10.
crease that IS Most
Encouraging
BY Henry Clews.

~ Neney CteWO.
NEW YORK, July 23.-The prime
factor In u business situation at the
moment is the splendid crop outlook.
Wheat has been doing particularly
well. The result has been a decline
of about TIC. per bushel during the
past month, Ind the outlook is for a
yield Of about 1000 900 bushels,
compared with 621, 900, 900 last year,
provided no injury comes during the
next ten days. The only crops. of i'm.
portance con erning which there Is
any uncertainty are corn and cotton.
Both are late, but have recovered a
great deal Of their lost ground. Their
present outlook is for a very. large
yield, but both crops have a number
OF weeks to run before maturity. Au-
gust is usually a month Of d%eteriora'
ton for both these crops, whose chief
danger Is early frost. Fortunately,
there ia ample margin in present con-
ditiOns to secure a full average yield
II nothing more than ordinary deter
ioration occurs. The outlook agricul.
turally, therefore, is eminently salts.
factory; and once more the farmers
who must be considered the backbone
Of the country a.e assured a profitable
harvest.
Scarcity Keeps Prices UP.
Prices are still high for nearly all
agricultural products, but that must
be chiefly attributed to relative scar
city. The United States,is much in
need Of better results from the farm.
The last census shows that while our
population increased 20 per cent In
the decade the acreage under cultiva-
ton increased only two per cent. This,
1t need hardly be said, has not q
little to do with the high cost Of hv-
ing. Our farmers should get busy and
increase their product by more scien-
tifc methods, If not by a larger per
centage acreage. Living on the farm
Is in many respects much more at
tractive than formerly, and it is high
time that the tide should turn back
to the farm, II only to prevent the
unwholesome congestion of popula-
ton in our large cities which serious.
ly augments social discomfort and un'
rest.
Improvement in Iron.
Another direction in which improve
ment is noticeable is in the iron
trade. The railroads have again been
buying materials and equipment with
greater freedom and in spite of ad-
vancing prices. It is many months
since the steel trade has been in as
satisfactory condition as today. Pro-
ductiOn is running on q record-break-
ing scale. General business cannot be
expected to persistently ignore such
enc )uraging conditions in agriculture
and in the great basic steel industry.
From all parts of the interior come re-
ports of increasing confidence on the
part OF the business men, bankers and
those at the head of industrial affairs.
Preparations are now being made for
a good fall and winter trade. Politics
are much less disturbing and there is
an inclination to sidetrack such 49,
sues as far as possible. West of the
Alleghanies the drift of sentiment
is decidedly toward optimism, and
this feeling is slowly but surely max
ing itself felt throughout the entire
Atlantic seaboard.
Monetary Outlook Good.
The monetary outlook has improv-
ed. "A better demand for funds is an
ticipated in the early future owing to
r requirements and the increasing
activity of business. Our banks have
been strengthening their position by
calling in of loans, which evidently
had much to do with last weeks IL
quidation nj stocks. The situation a.
broad has been much easier since tho
July settlements in Berlin We're safe
ly passed, and there is no immediate
prospect of any further European de-
mands upon DUR financial resources
On the contrary, it is more than likely
that any activity here and consequent
hardening Of rates would result In the
withdrawal Of American funds now
being used in the foreign markets.
Wants Congress TO Adjourn.
The sooner congress adjourn the
better. We have had q further illus.
tration of its inclination to mischief
by its unsound attitude IN the Pana-
ma Canal The Hay-Pauncefoote
treaty was a mutual agreement In
which we freely consented to allow all
nations to use the canal on equal
terms. International treaties are sa-
cred obligations, not to be broken for
Etrffles or special interests. This
treaty wa a price we gladly paid for
absolute control and ownership. It IS
also similar to the arrangement which
ha slong existed between Great Brit
ain and ourselves regaring the use OF
the Canadian canals. Once upon q
time the Canadians chafed under q
similar circumstance and sought pref
erential treatment for Canadian COM
smerce on her own waterways much
as we have attempted lately. We pro-