The Parma herald. (Parma, Idaho) 1903-1917, 1913-07-17

| Prosperity In Sight
In III frn'Ie aud fiuance letter
81 recent date The National Cop
per Bank Of Sail Lake City takes
a mort optimistic view al the fn-
|ture, and the arguments pre-
-sntrd certainly warrant its con
|cInsions We quote IL part:
Thinking people do not fear the ~.
'nre, though pusslinx business ritua-
ton has developed Interest rates bave
risen; money 10 hard to obtain prices
LOT stocks and bonds have dropped very
materially and II IL difficult to borrow
money upon choicest securities; We
have had wars, floods and strikes, -
each destructive Of actual money val
ues, and the whole world suffers iu
response, yet with all Of these there
has been commercial and Industrial
prosperity. Snch conflicting conditions
cause variance Of opinion with regard
10 the future, aud pessinIsm prevails
hevond point that Is juslaable
"PoIiiicaI agltstion or legislative
changes are not responsible for the
present. condition. Our condition Is u
r. plics Of that existing I'll over the
world, and the canses therefore liz
decner
Nothing Is reall, wrong with the
business situation. Railroad tonnage,
manufactures. foreign trade balances.
copper consumption. steel output, inn
migration deures, etc ALI show tina,
business l. being conducted snccs ssfalI,
proi'ably and Ia healthy volume. .
Really the only very blue spot in the
United States Ia Wall street--ths spec.
uIstivr center.
"fhe Effects Of tariff changes have
heen discounted In the public mind.
The Important thing 10 remember IL
that American emery AID manuIac,ur.
ing ability are winning marketr steadily,
not because Of tariffs Int because Of su
perior quality and low prices.
Recent Investigations Of the Depart
ment Of Cunmerce and Labor show
this clearly, aud shnw that the hugahoo |
ol tish wage and living costs Gas related
to "ur manufacturers ability To conn
pete with those OF foreign countrIe-i IL
M hnsahoo NJ all The figures show
that while our wage scales are consider.
ably HIGHER than those abroad II
than thosr Of England, for example,
the total proportion OF wage cost In IA. |
price OF the flushed article IL actually
much LESS than abroad even less than
N Japan. They show further that |,
requires 200 English employees to turn
ont the ssme volume Of manufactures
that Is handled hv 100 people In the
United States and that, though our
sace scale l. nearly twice that of Eng.
land. her total labor cost In the hnished
produc' Is tIIs for each ei00 that the
United States has had to spend Not
only that. but England usss " 2 per
cent more power than the United States
In doing given amount Of work. The
figures are similar Tor other countries.
These statistics prove that our hixh
waye rates do not need to be- balanced
by high tarins In order to protect our
industries from being overwhelmed by |
q food OF cheaply manufactured for.
eign goods. THAT FLOOD SIMPLY |
DOESN'T EXIST. The fears Of years
have no foundation In the facts, Tor
SPECIALIZATION. STANDARDIZED
rIoN, and SKILL have made their
mark In good earnest.
"Out Of the present confusion, doubt
and INDIGESTION. three facts stasd clear
The hst is that THE generation Of
the American people has foresworn
gambling THE evidence be-
tore the fuio Investigation Committee
showed that huge sams have been ha-
mutually lusnei on the stocks dealt in
upon tbs exchange The margins were
small--proot positive tina, the transsc-
tons were tho-s OF gamblers. In the
iature, hanks will continue to lend up
on stuck exchange collaterals, but the
margins viii he large aud the borrowers
will be bona Ode purchasers This will
release to the channels OF trade and in
dustry large sums OF money, and the
teneht 10 American business will be di-
rect aud appreciablc
"Anothsr thing certain 10 happen Is
the reform Of our banking system. We
have no Idea Of the Anal form this lcgis-
lxtiou will take The new plan may
not bs complete or very scientific. but II
will provide better massing Of reserves
aud more elasticity In our currency.
The result 10 going to be better than the
Iystem we now have. The change will
be In the right direction.
The third great change viii DO the
lowering OF the tariffs. We attempt no
prophecies, but at least We know that
The isrin 10 going TO DO revised down.