The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-09-16
CONFIDENCE Is SPREADING.

banker, in his current weekly financial
review, and he continues: Perhaps the
habit of caution begotten by a long
period of encouragement still exists
but in less degree; thus making initia-
tive correspondingly slow. Perhaps also
disa ppointment regarding the harvest
has chilled incipient optimism in some
iquarters. Nevertheless, there is strong
| foundation for maintaining hopeful
views regar1ing the future. In the first
place there are signs of abatement in
| the radical tendencies of congress.
There is also an awakening of sober
second thought among the people to
1.-THE disastrous consequences of Tevolu-
Itionary ideas upon national prosperity.
| These symptoms, it is true, are not
yet very pronounced; but there is dis
| tinctly less disposition to tear up the
established order of things than was
the case some months ago.
i The Improvement in the monetary
situation is already an old and oft-told
story This Improvement continues,
and there is no prospect of any none
tary crisis now in view. So far, the
| treasury has put out only $S,000,O00 of
the $50, Goo 900 promised to aid the crop
movement. The currency question has
/ finally reached stage where it Will
soon be the only important problem
before congress. The bill in it's pres
| ent form is not entirely satisfactory
and needs further revision. Opposition
| however, to the best banking sentiment
| of the country in regard to the law
should cease. Banking and currency
are highly technical questions which
only the experienced and the experts
can adjust, and it is perfect folly to
assume that the banking community
as a whole is corrupt and hostile to
tie best interests of the country. No
class of men appreciate character, abil-
| ity and sound judgment more thah
bankers; and any bill which meets the
approval of the best and most con-
sentative banking interests ought to
be accepted with confidence by the
American people. Owing to the quiet
persistence of President Wilson, there
is a possibility of a banking bill being
enacted this session of congress. IL a
ga tisfactory measure can be evolved,
this promptness will be highly salts
factory If not, final action of the bill
should be deferred until the next ses-
the existing one.
Another element of encouragement
is the early passage of the tariff bill.
That measure 10 already practically in
it's final form, and the changes made
in conference committee will prooaoly
be quite unimportant. Within another
week or ten days the bill may receive
the presidents signature and become
Jaw Thus will end a long period OF
business uncertainty. The ELECTS OF
the new tariff have already been very
largely discounted. Much business has
been long deferred. From now on more
activity may be expected for replenlsh-
ing empty shelves. Large stocks of
goods have been held in bonded ware |
houses for months, and these will soon
he released Our manufacturers have !
already largely adjusted themselves to |
the new conditions Some temporary
arrangement may follow; but many |
lines of business will benefit by the |
changes, and we look for general |
revival of activity from this source A
very important result has been gained
by the fact that the tariff will now |
be out of politics for some time to !
come, thus removing an important bus |
mess uncertainty
The harvest has proved somewhat |
disappcinting-the only exception be- !
ing wheat which promises a bumper |
crop. The money value of these four |
principal grain crops at current Chi |
cago prices is about $500, 900. as |
against $3.50, 900 a year ago. In
view of the high prices for corn, cot
nrO5nctS !
our farmers as a class will receive as
much money this year as last year and !
probably more. This means that |
few districts will suffer serious losses;
while the great majority of farmers
will enjoy continued prosperity. Some
loss of traffic to railroads Will natural /
ly follow, bat it should be remembered
that the country and it's transporta
ton interests are becoming less ana
less dependent upon crops owing TO the
growth of population and the marvel
Gus expansion of manufacturing indus
tries. 1t is not denied that agriculture
is a matter of much Importance to the
railroads. but the losses will fall chief
" upon few western lines Moreover, |
it should not be forge tten that We have
not yet met with a ser crop dis
aster. but rather a disappointment of
brilliant promises. Furthermore, it
should be taken into consideration that
the government very frequently under
estimates actual yields in its early re-
ports, and that there is still fair
chance of considerable recuperation i'll
both corn and cotton. Saving rains
have fall since - mt re-
port was made and some improvement |
must have followed