Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1913-12-02
MORE OF HEARST

The San Francisco Examiners alarmist, its financial cores
pendent in New York, has another pessimistic article in that pa
per Of SUNDAY. in which he says nearly all depends o fresioe"
Wilson's Forthcoming message to congress. II, IS n correspondent
intimates. the message contains further threats to attack tn
trusts of the country, to probe into the affairs of the combinations
that are T. aintain;ng the high cost OF foodstuffs, and 1t Is Tn
purpose of the administration to unloosen the hands tha' nave
been trying to throttle the nation for the past sixteen o + ven
teen yea IS, hell is going to pop, and Mr.. Correspondent wrlngs
out tears of grief for the poor workingmen who by the million
will be walking the streets in the next few weeks.
How absurd his premises re is hardly necessary to state.
People who keep up with the times know that it is rot, pure and
simple, but the fact remains that the Hearst papers have a follow
ing and some readers of the Examiner and American pm ther
faith to the articles that appear therein, and 1t Is they as nue.
as the papers, that spread the seed OF discomfort that Hearst is
endeavoring to SOW.
As a relief from the Hearst articles, it is a pleasure to turn to
the last number of The Literary Digest, which, treating the sub
iect of trade. tariff and the administration, publishes the opn-
ions of a number of journals and the views of many experts. They
refue in every particular the statements of the Hearst sheets,
and are so convincing that a number of them are gwen.
The first. which follows, is the expression of the Literary
Digest. 1t reads: With many of the main currents of business
running below flood level and showing signs OF continued recess
ion. one might expect a chorus Of voices arraignng the new tariff
as the culprh. Yet a canvass of the leading trade and industrial
organs by The Literary Digest reveals a surprising absence OF any
accusing chorus. Instead, we find not only a prevailing note OF
optimism rs to the future, but a tendency to look elsewhere thaii
to the tariff schedules for a explanation of any slackening Of
business activities. Thus it is pointed out that the hesitation
which causes concern in this country is evident also IN Germany,
Canada, India, and Brazil, and is accounted for by the experts
as the result of an overstrained condition of the worlds money
merkets."
Commercial failures in the United States during October
of this year it is true. were more numerous than in October Of any
other year since 1895, but no less a n authority than the editor OF
Dun's Review New York; cOnfesses himself unable to discover
any connection between the increase in failures and the tariff.
Even the depression in 10 basic a n industry a the manufacture
of iron and steel seems to be causing little immediate worry t.
students of our economic conditions, who point out that the trade
is still a long way from the state of prOstratiOn that afflicted it
three years ago, and find a reason for its present slowing up in
the poverty of the railroads.
Reports of increased rather than diminished activity in the
textile trades are explained by some observers on the theory that
they are reacting from a long period Of dunness and abstention
from buying while the revision of the tariff was in progress"
Various manufacturers of cotton goods in this section Of
New England, when asked for an explanation of the apparent
fact that the tariff reduction had not caused great falling off in
domestic business, and not been followed by the predicted great
increase of imports, declared that it is too early to judge the re
suits which may come. New York Evening Post.
Manufacturers Of desirable Silks says The Dry Goods
Economist New York; '.have orders that will keep much of their
machinery busy well into next year" The same trade organ
assures us that the great majority of those engaged in the dry
goods business are optimistic under the new tariff because they
realize that 1.-The changes in merchandise values will be brought
about gradually and that today the Influence of supply and de
mand is paramount to that exerted by a lowering of our scale
of customs duties"
Turning to the general business situation, we find certain
facts to balance against the reported slowing of activity in t,
Middle West, the recession of the steel trade, and the railroads
plea of poverty. Conspicuous among these is the report of the
controller Of the currency showing the condition of the 1909 ma
tional banks. Commenting on this report, a Washington cores.
pondent of the New York Sun says:
IF the bankers, country and city, of the United States ape
deeply perturbed over coming changes in the American financial
system, visual demonstration OF their reported nervousness is NOT
reflected in the loan account. The comparison of totals shows
that the loans on November 26, 1912. were 1901 .s5 1924 less t,an
on October 2lst this year. The loan account shows also an in