The Leon reporter. (Leon, Iowa) 1887-1930, 1913-08-07
DEMOCRATIC "BAD TINES"

The stock argument in republican
circles last fall against voting for
Wilson and Marshall was that
democratic bad times" would re-
suit. We were informed that the
| democrats would be certain to fright
en- capital by tariff tinkering" and
to throw bankers into a cold per-
spiratiOn through currency legisla-
ton.
The election passed away, with
only Utah and Vermont abiding by
the republican ship, like pair of
modern Casabiancas. Woodrow Will
son was inaugurated on March 4.
The standpat chroniclers then dipped
their pens in earthquake and eclipse
and poised them above the paper,
ready to set down the record of the
shock of systems and the crash OF
worlds.
That was five months ago. The
anticipated crash has not eventual
ed. The sons of men have gone on,
eating and drinking, marrying and
giving in marriage. And, in due pro-
cess of time, the United States Steel
Corporation, an organization not
now in politics and wholly above
suspicion of any desire to give aid
and comfort to militant democracy.
has reported on the business of the
first six months of 1913.
Now the steel and iron business is
the barometer of trade" This by
reason of the fact that it's peculiar
nature makes it as sensitive to trade
tendencies as to trade conditions.
Nearly all the uses of steel arises,
directly or indirectly, out of con-
struction-of railroads, ships, build
ings, machines, and engineering
works of every sort. Construction Is
active only when practical men an
ticipate that prosperous conditions
will be stable. Skyscrapers, steel
barges, steel-framed buildings, steel
and concrete dams, steel cars, loco
motives, ETC., are relatively long
lived. No man builds them unless
he sees his way clear to a reasonable
profit in their use for years. to come.
The report of the United States
Steel Corporation, controlling almost
a full half of the steel production of
the United States, owning iron
mines, ore-carrying roads, ore docks,
ore-carrying ships, coal mines, coke
and rolling mills, shows larger net
earnings for the first six months of
1913 than for any like period since
1907! The earnings were $41,219,-
S13, as compared with $25,102,265
for the corresponding period in 1912.
And the second quarter of this half
year, wholly within the Wilson adj
ministration, was better than the,
first
Thus have the prophecies Of
democratic bad tines been fulfill
ed with respect to the industry held
by experts to give the truest index
of the general business situation
Have not these figures a signifi-
canoe which may profit us as much
in the forecasting of the future as in
the Interpretation of the past? In
view of the actual course of business
in the first half of 1918, how foolish
and without reason now seem the
fears and forebodings of last year!
Well, have the fears and forebodings
now finding expression concerning
the future any better warrant? The
Republic believes that the next six
months will see the enactment of q
good tarin act and a sound and
workable currency measure, while
all the sons and daughters of Uncle
Sam continue to prosper in basket
and in store.
Let US take counsel of facts rather
than fears. Last year we were told
that the country's enthusiasm, for
Woodrow Wilson and democratic
policies spelled panic and disaster,
and today We find that the industry
sm0af aenaffiyA IL RanaraI trade nnns