New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-01

source directly associated with indus
trial developments throughout the
world must be given consideration.
In addition to the mere Investigation
of the influences affecting the progress
of industrial development. Mr.. Glenn N
the interest Of Illinois manufacturers
particularly, has been analyZins iof-
eign trade opportunities for the pur-
nose of extending the export trade OF
manufacturers in this country anu
based on the outlook in his innings ol
underlying conditions. as Indicated 10
is planning a trip Of representatives. VI
American manufacturers on board
chartered ocean liner. which VIII ex-
tend TO South American countries anu
possibly to other foreign shores TOT tHe
sole purpose of securing at nrst manu-
information which will be valuable In
further promotion of the export Vi
American manufactures.
Industrial conditions in the United
States continue to show varied improve
ment. but there is growth OF conn.,
dence regarding the autumn business
which is stimulating, NOTWITHSTANDING
the feeling of depression when sun 10
apparent in some circles. Much OIL '"e
hone which arose after the first reports
of prospective crops was given set
back by the later Information regaru-
ing the corn and cotton outlook, caused
nv the extreme hot weather IN the
South and West. A considerable per-
centage Of the reported injury has been
discounted, and crops as a whole shoulu
be sufficiently large to insure staoh-
itv bebind the economic situation this
fall.
Tho most ominous cloud which over
hangs the future in the United states
is q political one, formed by the com
bined pending tariff, income tax ana
currency bills which may become In
corporated into laws during the present
session. Each of csc measures wouiu
have an adverse effect II enacted SIN
civ. but it certainly will be burden on
the industries of this country TO nave
all three loaded on the United States
at one time This country VIII be
forced to begin a readjustment of busi-
ness to conform to the new order OF
things all at one time. Eliminating
the mart that the revised tariff VIII
play and ignoring any effect the income
tax may have, putting into use the
proposed currency bill in It's present
form will be a stumbling block toward
business Improvement that will be hard
to overcome befo.e the country mas
PASSED through the period OF readJust-
ment, which many bankers believe VIII
renuire more than two years. IL mas
been pointed out that the changing OF
deposits to the regional banks with the
attending increase in reserve which the
members must carry, will mean ire
mendous calling of loans and re-
striction OF credits that necessarily
must curtai expansion and result IN
dulness il. many lines.
If the administration will he GUIDED
by the suggestions growing out OF the
meeting Of bankers at Chicago, VINO
represented all sections ana All
branches of American banking. saId
one leading banker last week the
alarming features Of the proposed
measure will be avoided and the Ill
effects, so far as now are discernible.
will not follow. 1t seems strange, he
said. that the administration should
look upon the bankers Of the United
States as entirely devoid Of knowledge
or sincerity regarding law which is IN
tended TO be an assistance TO the whole
country and for which bankers nave
been urgently pleading for several
wears. though they have insisted on a
measure based on practical experience
and not on political theory.