Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1913-07-24
The Business Situation.


There has been during the past month
q slight falling off in factory operations
and q large increase ii conservatism
and doubt as to the future. and in many
quarters a depressed mental condition
exists, totally nnjustified by the pres
emit state Of business and the prospects
for the balance Of the year.
As amatter of fact business keeps
Eup remarkably well and is really much
better than generally believed as an ex-
animation Of the statistics that regis
ter what ID its real position proves.
For instance, as showing the operation
of our factories. Labor is scarcer than
ever, and is not seeking employment,
but demanding higher wages The vol
ume of manufactured goods turned out
in June was never larger, and as these
goods have to- be distributed we find
idle cars less than one-half what they
were year ago, ago, and slightly oyer
one fourth the figures Of two years
ago. Consequently gross r. r. earn
ings show large increase as do also
Bank clearings which represent the
goods we are producing. and moving In
such large quantities.
Mental conditions affect the placing
of new orders for future deliveries, and
these continue at a standstilI, but they
do not and are not affecting the physi-
cal needs Of ninety-seyen millions Of
people in the enjoyment of full employ
at high wages.
A trade reaction after q long period
of great activity without any signs Of
previous overproduction is new and
strange experience. and yet that is the
position to-day. There are no surplus
stocks Of manufactured goods, and no
manufacturer can explain that his Gus
toners are not as ready to take the
goods they have contracted for as at
any time.
It is the absence of new purchases
that worries him, not his present posi-
ton but what it may be in the future,
consequently it is the future that we
are all interested in, and which we.pro-
pose to try and look into. If there has
been legitimate demand for the goods
we have been producing and the coun-
FRY has been consuming them and no
surplus has been created, what is there
to make US believe a great change is
to come over the requirements of the
public and its ability to buy and pay
for what they have been taking in the
past? Can any exception be taken to
the following statements.
list. Population is increasing through
immigration rapidly. and new corners
find instant employment and become
consumers.
End Our crop prospects are better
in both percentage of yield and quanti-
| ty than this time year ago.
| Bird. Balance of trade in May was
sixty-one million dollars in our favor,
and for the fiscal years amounts to the
enormous sum Of six hundred twenty
one million dollars.
18th. Our financial position under the
crucial tests Of the past few months
has been proved sound. We have been
able to send some 40 million dollars of
gold toheJp the strained European posi-
ton. and while our Captains Of Finance
have closed their Golfers to speculative
enterprises. no legitimate commercial
interests have suffered for lack of ac-
comodation to meet the requirements
of business.
9th. Dividends and interest on the.
investments of our people are at new
high record and these and the invest
ments being made in Immediately pro-
ductive physical improvements, such IS
building, machinery, etc, and other
improvements slower in their returns,
but necessary for our growth, proves.
that never were we as prosperous. and
nothing bnt a crop disappointment can
stop or retard our progress.
eth Tha T.r;t. .h.,n. !.
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TIN The Government has at last
realized the necessity Of placing our
hseai operations on basis that win
Tree Us from the dangers OF our present
BANKING lnelasticity and will place a.
bill on the statute books that Will cover