The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-07-07
CONFIDENCE.

CONFIDENCE
To 81 Pauls triumvirate Of virtues-faith.
hope and chsrity-might be added a third
confidence unless IT be that confidence Is the
combined essence OF faith and hope
Confidence in ones self. in cause, in a leader
or In all three has moral spiritual, political
business and military victories than ANYTHING
ultimate victory OF Christianity and hone for
the future after death that gave strength to the
early Christians; IT was confidence in their
leader and little else that made the Old Guard
OF Napoleon invincible and It was confidence
in himself and his own destiny that inspired
that feeling in the Corscan's followers II II
was charity that made the recent reunion nj
Gettysburg possible, 1t faith and hope that
made the first Gettysburg the shrine of all
Americans
In business 1t Is the same. Lack of conf,
denee in present and future has been respon
sihle for more panics than even faulty bank
ing and currency systcm--lack Of confidence in
the government in power and lack of faith In
the patriotism and honesty of purpose of those
who dominated the business situation 1t is that
came confidence. Mt other times lacking. that
Is bringing the country through a nertod of
political uncertainty and radical change Con.
fidence IN Woodrow Wilson and belief that he
dominates the situation at Washington: conf
denee In the saneness of Oscar Underwood and
other house leaders, though not universal Is
strong enough and widespread enough to pre-.
vent the panic that under similar conditions
with others In control would have been almost
Inevitable
For the business condition Is sound and the
outlook for the future Is encouraging. The mid.
summer season ia always dull season. 1t would
be strange were It otherwise and there is moth
Ing strange in the present situation but bust.
ness IS making a remarkable showing Crop
returns are favorable; consumption is heavier
than usual at this season Of the year I'm the
surplus grain-produeing sections the Illuminating
fact" says Bradstreets report for the week, lis
that merchants, undeterred by tariff matters
are going ahead with their fall purchases, re-
tail trade has been given a filip by seasonable
weather plus clearance sales. and moreover.
IT appears easier TO get money on commercial
paper Thus the weeks developments spell
somewhat more optimism. especially as apper.
tains to affairs in the Northwest Southwest and
West in which sections current trade is salts.
factory or better, while there is a noteworthy
disposition to cover future requirements"
Nor is this optimistic outlook confined to
people of other sections than the East and South.
There. too, the tendency Is to discount tariff
legislation and TO go ahead, confident that the
future will sec no troublesome conditions APP
prehension IN some circles exists OF course. and
trade is affected. but the greatest trouble has
been uncertainty to the exact rate of the
tariff schedules making merchants .chary OF
purchasing for the future and not fear of whole
eslc slashing Confidence that revision would
not be Of tho sashing variety has kept the mer.
chants and manufacturers from worrying more
than prudence dictates, That some have been
too prudent Is the opinion expressed by the trade
reports. TT IN becoming more and more evil
DENT, f7ra+7rrrrrs aEattr1 tfrat stocks are
very short. and the wsdom Of merchants who
have long stayed out Of the market or pur-
chased sparingly is being questioned, for it is
becoming certain that there win be good deal
of hunting for desirable grades of goods wanted
for distribution within the next few months !"
In other words those who have lacked con-
fdence will suffer for the lack while those who
possessed 1t are in better copditon to meet
the future.
Wilson has inspired confidence. The business
IKE manner in which the Democrats In the house
tackled the tariff bill telling what they intended
10 do and doing 1t quickly possible has
inspired confidence Moreover. business has