The record. [volume] (St. Maries, Idaho) 1913-1918, 1913-08-26
Normal Business and
Financial Conditions
Have Returned
lOapItaI News. Republican,

(Capltal News, Republican,
The period Of financial depression
Is now at an end and an era of great
prosperity Is again before the ooun'
try.
The Capital News has taken ocoa-
sion frequently to point out to its
readers that reports from every form
OF industry, the banks alone except
ed. showed that conditions are ripe
for a return OF prosperity. Factories
ana mills, we have shown, have or
ders ahead for a year and are run
ming at full capacity except 10 COCA
sional instances where lator troubles
intervene to prevent operations; the
railroads are max ne greater profits
than at any time since the high profit
period OF 1877; crop conditions are
reported satisfactory In spite OF toe
recent severe drought In Nebraska,
Kansas aud Missouri, aud prioee for
all forms of produce to the producer
give promise to being, not high, but
quite satisfactory on the whole.
And now even the banks where
alone there was gloom and disafeo
tlon are aware that their gloom was
unwarranted and that the panic they
tried to produce will not develop and
as consequence they are extending
their loans, releasing their high re-
serves and a general feeling Of hope
fulness lie PREVALENT.
"Financial America. one of the
leading financial journals OF Wall
street and likewse an opponent Of the
present national administration and,
therefore, not disposed to speak
hopefully for the single purpose Of
aiding a political favorite, In its last
issue discussed the question thorough
" from the standpoint of this coun
try as we'll as from the standpoint OF
foreign countries. IL concludes that
another era Of prosperity has return
ed. It says:
''The upward movement In the
stock market has been continuous
practically since June II, marking q
period Of over two months 10 which
the prices of many seouritleF have
been steadily established at higher
figures With hardly any Interruption
Ia the shape of a substantial reaction
On June 10 and II, the markbt was
IN an unsettled condition beofuse of
constant allusion to the financial
conditions 10 this country Notice
the effect Of the calamity bowls OF
Repu blican politicians. -Ed) and
Europe with an absolute absence Of
time money, offerings over the end Of
the year. There was then apprehen
sion of n period of money stringency,
resulting from the demands from the
interior for crop moving purposes
and from projected financing here
and abroad which was feared would
be too serious a strain on banking
accommodation. The change In the
situation was eoinoident with the first
announcement Of Secretary MoAdoo's
financial propositions. which then
we're to the effect that he was willing
to accept savings bank collateral as
security for additional bank ciroula
ton. B."
We have here frank admission
from this high financial sourCe that
the announcement Of the secretary OF
the treasury had the effect that th
secretary expected and that we have
advised Capital News readers would
happen, and thus Is vindicated the
theory that what the county needs IL
a system Of finance which Will enable
officials to go direct to the people in
stead of going direct to the gambling
bankers Of Wall street who, hereto
fore, have had absolutely 10 their
control the finances OF the country
aud could make good times OF hard
times just az they desired for their
gambling operations.
England bankers are not only sat.
isted with the new development 10
the financial situation 10 this coun
try because Of this change 10 method
aud plan. but they are wondering
why It should not be adopted ss g
permanent policy instead of an ex
ceptional one.
The Londan financial correspond
emit Of ''Finsnoial America" says:
''The announcement Of the deposit
OF $50, 900, 900 Of treasury funds
with the western and southern nation
al banks In the United States, coup
led with the intimstion that further
heavy government balances would bl
deposited, If required, has been re
osived with relief In London. II
spite Of the movement OF what prom
isss to be q record harvest 10 thl
states, Il is now thought here tina
there will be much less autumn pres
sure than usual In New York; anl
despite the opposition which. It
reported. has sprung up In certaii
American banking circles against th
action OF the American treasury, Oh