Evening star., 1914-11-17
PR0SPECTSBR|GHT,
REDF|ELD DECLARES
Factories Running Overtime
and World Abroad Looks to
u. S. for Bulk of Supplies.
SUMS UP CONDITIONS
IN OPTIMISTIC WAY
Secretary of Commerce Prepares
Article for Official Organ of US.
Chamber of Commerce.

world abroad turning to America for
the bulk of its supplies, increased con-
sumption and confidence at home, these
are optimistic signs for future pros
perity pointed out by William c. Red
field, Secretary of Commerce, in a mes
sage to the business men of the coun-
try.
There Is no longer serious concern
over our financial future" he says.
'The farmers are prosperous, for wheat
exports have been unprecedented in
quantity and price. Cotton has begun
to move. The number of unemployed
is constantly growing less. Confidence
has come into our domestic market at
the same time that foreign buyers have
entered it, Such is a summary of buSi-
ness conditions as viewed by Secretary
Redfield in a signed article in the Ma
TONS Business. the oflicia! organ of
the Chamber of Commerce of the United
States. Mr.. Redf1eld's article follows:
"A manufacturer whose plant was in
Liege or Lille would find no strong
ground Tor cheer in the condition of
either of these industrial ceuters. In
either of these cities financial, econo-
mic, possibly even physical destruction
would threaten his business. One can
not but SympathiZc with the misfor-
tunes that have bcfallen Industries in
all the beiligerent countries and be,
therefore, so much more grateful that no
like rate threatens our own. Let the
worst be Said and admitted that can be
said respecting existing business diff
cultieS In America, our condition still
remains not only relatively bright but
rapidly !nproNinC. and in many re-
spects both prosperous and promising.
There is always room in a country as
large as ours. and with such various
conditions as exist in its different por-
lions. for the pessimist to find
som" hook On which he can
need not react to the other ex-
treme and eXClaim that the Spe-
cial prosperity OF one IS an indication
Of equally good conditions everywhere,
Great Improvement in Business.
The truth lies between. but no OBJ
server of the large movements in our
commerce today fails to recognize the
great Improvement that has been made
III business conditions within the last
few weeks and which is Still progress
ing. The payment OF our foreign Oh
ligations is no longer cause for Scri-
Gus worry since an import excess of
twenty uillionS in August has been
changed to an export excess of approx
imateiH sixty millions lit October. This
aNora bile process continues and there
is every lntltdl llUn tttt1 II is ilkciN
to continue long. The deficit III our
bank reserves in New York which WAS
as low as forty three million dollars III
August rose to a surplus reserve early
this month of nearly eighteen millions.
The course of exchange has become
moro normal. Clearing house certifi-
Gates 3re being retired. large sums OF
emergency notes have been withdrawn
ani with the opening of the fedei al re
serve system great additional supplies
!
abl" There is no longer serious con-
Germ over our financial future.
''OIe can look back calmly now TO
the first weeks Of August, when there
was Z wheat embargo which some fear
Il might mean sad loss to many of our
porous today. for wheat exports have
been unprecedented III amount and at
proiita BILE prices.
cotton has begun to move and ex-
istiHg arrangements promise relief
from the shadow which has so long
hung over our fellow citizens in the
south. If both money and crops are
N far better condition than they We're
months ago, and If both are in some
reSpects in excellent condition, the
same is true of our industries. They
IRE not all fully occupied. as facts i'll
the iron and steel trade show. and
there remains StIll surplus OF idle
cars. one does not hear as much of
nc number of cars III use as is said of
those which are idle, and one wonders
whether the proportion of idle cars to
the total, ii il were stated, would not
give 4 different Impression from that
'tateinent. However, he who wants
nay read plain facts which show on
very side not only :; marked hopeful
ceiling in industry. but tangible facts
On which such feeling rests. All prob
TENS are not worked out yet TO per
t..r hsIT- Ill he