The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1913-04-04
TRADE AND FINANCE LETTER.

lure OUTLOOK was very huSh i
indeed. For about two years busl-
ness had been transacted from day
to day only, because mediocre crops,
high prices, small volume of bust
ness and slow collections, coupled
with the constant political turmoil,
had reduced the average business
man to state of absolute uncertain
ty and trepidation regarding the flu
ture There was heavy demand
for funds from Europe, which as
events have since showed were to
finance the most active year Europ-
can commerce ever saw, an activity
that persisted and grew in the face
of severe labor troubles and two
wars.
Ours is a large and growing coun-
try with a population increasing at
the rate of about 100000 per an
mum. Our normal requirements
therefore increase something like
percent each year and inasmuch as
business had practically stood still
for many months, it follows that
there had accumulated a large a.
mount of deferred business to be
taken care of when real activity did
finally commence. Not only among
the purchasers of steel but of almost
all manufactured products, buying
had been cut to the bone in the effort
to economic and by way or mark
ing time until the business world
could decide whether it dared to
put much faith in the future.
A notable instance of the degree
to which business had been deferr-
ed was the railroad equipment stu
alton. The railroads had been par
ing their maintenance accounts I'M
mercifully and had spent very little
on new rolling stock, SO that they
were practically a year behind in the
ordering of freight cars and loco,
motives, and in order to escape
being overwhelmed by even the nor
NAL business which would fall upon
them, they begun, in February and
March, to order equipment in greater
volume. The movement gathered
Roadway and all the equipment man
ufactories are now crowded witt
business. The Baldwin locomotive
factory for instance, is employing
more men than ever before in its his
tory, and has bushes on it's books
for months ahead. Similar state
ments could be made of other kind
red lines.
The forward movement was &C
tolerated to some extent by the fac
that for some months prior to 1912
and in the first part of that year
prices in Europe had risen faster thar
those here, thus making America {
favorable market place for the res
of the world, and consequently in
creasing our 1912 exports to joint
unprecedented. Domestic buying
orders of all kinds and from al
parts of the country began to null
tiply, and new building picked up a
rate entirely unwarranted by thu
mere fact of the coming of spring
AS the prospect for record breaking
crops became more and more a GER
tainty, the volume of business grew
until by the end of summer it ha(
reached point higher than had beer
touched before for long time. II
October the railroads gross earn
ings made the greatest gain over Tho
corresponding month of the year be
fore that is known in the history O.
American railroading and their ag
gregate revenues were larger b!
many millions than any previously OF
record.
The electrical world was keenly &C
tive. It is estimated that over two
billions of dollars were spent In the
United States for new construction
and machinery and for service, abou
l12 percent more than in 1911. Will
the large items of new construction
now going forward and in view o
the rapidly increasing patronage o.
electrical service companies the pre-
sent year can scarcely fail to be ever
more active than the past one alont
this line, and the copper producer
can take much comfort in the out
look.
The manufacturing industries o
the country seem to have their high
est record in volume during the pas
year, measuring by the movement o
iron ore on the Great Lakes and thu
movement OF other domestic products
] toward the factories. If space per
mitted there could be instanced thu
volume of foreign trade, of lumbe
/ sales and other favorable items.