The Washington herald., 1913-08-11
BUSINESS TAKES
OPTIMISTIC VIEW
Report Of Chicago continen-
tal and Commercial Bank !.
Encourages Investors.
currency BILL REPORT
Pending Measure Can Be Amended
to Secure Support Of Bus.
ness Men.
Currency BILL REPORT

The annual business review Of the Con-
tinental and Commercial National Bank
OF Chicago made public last night. is. in
part ~ follows:
General business in this country Is
showing q degree of confidence and cour-
age that IL both reassuring and remark
able, In view Of the rather strained credit
situation abroad. This confidence and
courage all through the Middle West. and,
In fact, the entire United States. is gener-
ally accepted as indicative Of a sound
business situation. The most striking
feature of the advices to the Continental
and Commercial National Bank of CHI
cago. referring to the agricultural pros
poets and business outlook. Is the alb
sence of pessimism in face of a rather
high and tight money market.
Bumper Crop Expected.
This is due. no doubt. to the expecta .
ton Of bountiful crop production, low
stocks Of merchandise in the hands OF
manufacturer and retailer, satisfactory
collections, and the well-employed labor
situation. Coupled with these has been
an encouraging increase in railroad earn
ings. development that has helped dis
pei some of the gloom which has lowered
over the railroad situation since the re-
mission to grant the transportation COM
panies permission to increase rates to a
moderate degree in order to Offset the
increased cost of operation.
Another encouraging sign has been the
heavier exports of grain and other COM
modities, which have contributed liber-
ally to transportation earnings and to
the building up of a credit balance
abroad as a bulwark to our banking sit
Nor lie g.,
cilitate the marketing and exporting of
the new crop show signs of abatement
This Is slowly contributing toward a re-
duction of loans at the banks and of
Indebtedness in mercantile lines.
Normal Volume Renched.
For few months following The big
crops of 1872 business was abnorma.:y
brisk. but this did not continue long
enough to produce an overextended ner-
camille condition. AMI within the last few
weeks there has been healthy retrench-
ment to a normal volume. Therefore in
general. fundamental business conditions
all over the United States are held TO ke
good.
Advices from an sections of the country
indicate a production from the soil this
year which, barring accident or serious
damage from the hot. dry weather since
these reports were collected. may be rea-
sonably expected TO approximate in value
the creation of new wealth from that
source in ordinary years. This means that
we will produce material wealth during
the current year somewhere between
$500, 900. 900 and 5000, 900. 900 from the soil
Another noteworthy feature is the dis
position and ability of consumers to pay
their bills, for collections are reported
good. There are some exceptions, of
course, due to peculiar conditions in To-
cali:ies, but, generally speaking. manu-
facturers, wholesalers, and jobbers re-
pert collections satisfactory.
Our bankers have borrowed practically
no money abroad in the current year,
a-d TO this extent the United States is in
an exceedingly strong position.
Legislation Is Imperative.
rency legislation Is imperative, the char
est not only to business and banking, but
agency more intimately connected with
the prosperity Of this country than our
banking system. In seeking to obtain
opinions of others on this important mat
ter We included in our list Of questions
TO about 1000 bankers and business men
the following:
In your judgment, is the administra-
tion currency measure a move in the
right direction, and will 1t, for the pres
ent, at least, meet with the necessities Of
business in the United States?'
This question was asked of manufac-
turers, jobbers, and bankers covering all
sections of the country. 1t is rather as