The Birmingham age-herald., 1913-12-21
Calamity HOwlers" Have
Little Success in ArOusing
Any General Alarm
REPORTS COMPILED
ON WHOLE COUNTRY
East and Middle West Report "Quiet, =
But Reports From the South
ern States All Say
Booming"
BY C. E. STEWART

L nat the present aumlnlSlfduOn, anu Ihe
leaders of the party In power are fully
aware that the publlc-as a whole-al-
ways charges the administration with the
responsibility for business depression, or
temporary lulls in business, or conditions
which hint at panic, there is no doubt.
The administration has discounted the
present business situation In some Sec
tions of the United States and announced
in advance that after the tariff law had
to fully readjust itself to the new and
materially changed situation, slack trade
might be expected, and would not be sur
prising.
The President and his advisers fully ex-
pect the trade of the country to recover
normal conditions 5 promptly after the
passage of the currency BILL In the
meantime the Underwood bill has been
the law for only about so days. and from
no source-except from the most parti-
san-comes the charge that 1t is responsi-
temporary lull in the trade of the coun-
try
Rapid and Permanent Recovery
Every indication points to a rapid and
permanent recovery from the slight indis-
position that business has received purely
through timidity. No indications can be
seen that the country Is to be involved
in situation similar to the one in Oc-
tober, 1907. when Roosevelt was President
and the country was under the Dingey
tariff law. and in the brief interval of
10 days, the country was plunged head
long from the heights of prosperity into
the vortex of a disastrous panic
The republican national committee as
sembled in Washington during the past
week processes to see an alarming condi-
tion in the business world and charges 1t
entirely to the Underwood BILL but as
everyone knows political prophecies of
disaster no longer appeal to the people
and the country will not be affected by
these gloomy forecasts unless something
more tangible than mere statements are
pointed out.
Reports From All Sections
From a carefully gathered and un-
biased report of the business situation
gathered from all sections of the country,
the New York Herald, of Monday, De-
cember 10, says:
THE New England group of states
Maine New Hampshire, Vermont, Mas
sachusettss Connecticut and Rhode Island
report business fair
THE northern Atlantic group-New
York, New Jersey, Pennsylvania and
Delaware-report business at a stand
STILL
The south Atlantic group-Maryland
Virginia, North Carolina, South Carolina
and Georgfa-report business booming
The middle west group-Ohio, Indiana,
West Virginia, Illinois. Michigan Wis
consin, Tennessee. Kentucky and Mis-
ff1y.s rAr,. ~ -. IL.
THE gulf group-Florida Alabama.
Mississippi, Louisiana and Texas-report
business booming
THE northwest group-Nebras Ska
Iowa, North and South Dakota, Minne-
sofa and Mintana-report business fair
The western group-Kansas, Colorado,
Idaho, Utah. Wyoming and Nevada-re-
port business booming
The southwest group-Okla ahoma, New
Mexico and Arizona-report business
booming
The Pacific group-Ca1fornia, Oregon
and Washington-report business fair.
Men who analyze the causes of fluctu-
atons in trade and commerce in the
north Atlantic states have no hesita-
tion In ascribing the failing health of
trade locally to the enforced retrench-
ments of the railways pending a decision
on their application to the interstate
commerce commission for an advance
In their freight rates"
Effect of Railroad Situation
Another thing vitally affecting the east
at this particular time is the condition
in which the New Haven road finds it,
self under its new management, and the
pending suit of dissolution which NAV n,
any time be brought against IL. The Oh
erations of the New Haven extend
through and involve the whole Industrial
system of New England, and Its condi-
tion. brought about by too ambitious
scheme of expansion has put q damper
over the entire business life of the states
In which this road is the principal and
practically only means of transporta-
tion.
1t Is the purpose of Attorney General
McReynolds to aid in every way he can
the solution of this vexing and entagl sd
situation without recourse to litigation
The new head of the New Haven has
shown every disposition to comply with
the antitrust laws, and is anxious to
meet all the requirements of the depart
ment of Justice The Attorney General,
by meeting this disposition on half way
ground, and giving the New Haven time
for extricating itself from the embar-
RAISING situation 1t now occupies, ana
meeting the requirements of the law.
can contribute much toward restoring
confluence 10 the e~ieglt1mate business In
terests of the country and giving assur-
ance that the administration is not 60
ing to adopt radical policy toward any
erring corporation that develops dis
position to be good.
Operations of Underwood Law
10 the meantime the importations under
the Underwood law of all kinds of goods
manufactured by the "pauper labor Of
Europe as predicted by our republican
friends has not materialized go far. On
the contrary there has been no material
increase In any particular class of i'm
portation except the market basket class,
which the trainers OF the tariff law. ana
the administration, hoped would be
brought about.
On the whole, experts agree that next
year has bright prospects for being a
record breaking one for business In the
United States. The calamity howlers sec
differently, and their constant yelpings
have had a depressing effect upon the
timid In some quarters. but the country
has accepted the tariff bill. and the
manufacturers themselves are making Il.
complaints. After the currency bill
general revival OF business all over the
country is confidently expected by the
administration, and It Is likely to come.