The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-07-22
BUSINESS SITUATION GOOD.


Those pessimists, who see nothing
but hard times in sight, can find some
excellent food for thought, if they are
looking for any and which they proba-
bly, are not, in the current weekly
financial review from the pen of Henry
Clews, the New York banker After
pointing out that the financial horizon,
both in this country and abroad is
visibly clearing. he writes:
The business situation at home is
sound and promising. Much now de-
Ponds upon the crops. Each week rem
ders the prospect of a good harvest
more certain, and the period is not far
distant when the grain crops will be en-
tireiy beyond danger. Since the July
government report the condition of
wheat and corn has further improved,
and the outlook is for a better corn
crop and a liberal wheat crop in spite
ow the decrease reported in spring
wheat. 1t is now 1 elieved that the
tariff bill will be passed about Sep
TENDER and it's effects have already
been largely discounted. The outlook
for the currency bill is still very in
definite.
THE railroads are enormous consum-
ers of our industrial products, and
while greatly in need of supplies of all
kinds at the present time. through a
lack of credit facilities they are forced
to economize When confidence re-
turns, which is the basis of the ex-
tension of credits, the railroads will
come into the market to supply their
needs, and when they start to do so all
he Of do
into active life and it will be found
that the demand in every direction will
be greater than the supply; and should
nature do her part, as now indicated,
great prosperity will again come back
to our people and nation.
1T is worth noting that our western
bankers and merchants show an I'M
fiinching optimism, which is not likely
to change unless some unexpected dis
aster befalls the crops. There has beer
no important shrinkage in trade at the
west beyond a very moderate slowing
down, and many of the leading mer-
chants are anticipating a good average
fall which is quite consistent with pres
ent crop prospects. The policy OF
conservatism imposed by banks for the
last three months is having beneficial
results; and from the Atlantic to the
Pacific indications multiply, showing
that financial disorders are gradually
righting themselves. One effect OF the
restraint on borrowing imposed by
banks will be to induce farmers to mar
ket grain which they have held back
for higher prices. A freer grain move
ment would mean better traffic returns
for the railroads, and larger exports Of
breadstuffs. In this connection, it is
worth noting that our exports of bread
stuffs in the last fiscal year were
s1a3. OOO, c00, against $4,000 900 a year
ago and the largest since 1908, wheE
they touched $2O5 100000. Our total
amount of agricultural products reach |
ed in the last II months were the larg- |
est on record, amounting to 81 OPS, 600 900 |
against 1914, 900 a year ago. With
the lower prices now current for agri- |
cultural products, the prospects are
for continued liberal exports; factor |
that will materially strengthen our |
credit abroad During the fiscal year |
lust closed our imports aggregated |
81 ,s12, 0oo, 900, an increase Of $159, 100000
over last year, while our exports |
amounted to s2465, 900 900, an increase |
of s261 200, 600. The excess of exports |
over imports was 1858. 100000.