Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-01-03
Revival is Seen
BY BRADSTREET'S
Review of Business for Past
Year Is Given, With Encour-
aging Forecast.

New York, Jan. 3.-Bradstreet's an
nual review for 1913, Issued today. Is
as follows:
Nineteen hundred and thirteen was
a year of disquiet and disappointment
alike in foreign and domestic finance,
trade and industry. The disquiet was
worldwide, though until the latter
part of this year not so much in evil
/ dence at home as abroad Disappoint-
ment was keen with those who, with
/ knowledge of the many politico-econo-
mic domestic problems pressing for
solution, were hopeful that the ex-
ceptionally strong position OF this
cCuntry's producing and consuming
interests would render us partially in
dependent Of it not entirely immune
to, the play of the large financial
forces dominating the world in the
year just closed and making for de-
preston il finance and trade. Re
view OF last,year's eY - 9 would prove
Incomplete ii sight were lost of the
many T--semh'Grces 1t l ore tc JSC2
and 1908, just ten years ago, when the
socalled rich mans" or silent pani,>'
occurred. Then congestion in the
securities markets was in evidence
the phrase financial indig asricn' was
coined, the results of much injudicious
capitalization of industries were man.
ifest-first in collapsing stock mar
ket prices and later in depfessa1 trade
and Industrial conditions numerous
strikes and bank suspensions occur
red, and all the usual aftermath was
presented of an extended financial or
credit situation being readjusted.
1t has been frequently and with jus
tice said that the Balkan war AM its
attendant evils did not cause but !
rather precipitated and revealed the
worldwide financial strain of 1913. 1t l
must with equal justice be held shat
most observers failed to adequately |
measure and forecast the effects,
direct and indirect, of the war which. /
starting in October, 1912, drenchea
the Balkans and European Turkey in
blood, converted eastern Europe into
an armed camp, caused boarding of
gold in Austria, France and Germany.
put practical period to the European
and commercial boom, and in
steadily widening circles reached into
and affected the finances and trade of
countries thousands of miles away
rom and apparently unconnected with
he hostilities. No country proved
immune, and all felt the strain of an al
'eady greatly overextended-credit situ-
lon, inability to borrow new loans
md difficulty in getting old issues re-
unded. Brazil and India. GERMANY
md Austria, France and England.
,anada and Mexico. as we'll as the
United States, were affected. this
ountry. perhaps least of all, because |
Il our wonderful export trade balance.
ushioning the impact upon us of the
utter worlds forces. Once again our
membership in the family of nations !
rought home TO us the real interde
'endence OF the countries. and when
'e confidently expected relief for our |
wn financial needs from our enorm.
us export balance, instead of gold I
upphes paid us in settlement of these |
aiances. we received back orr own I
ecurities, which as In other vearz of !,
eneraI strain sold most readily I'm the !
'orid's markets. Indeed. IA tba no ,
ut or three-cornered exchange onera. I
lons' we found ourselves paying other {
ations' balances In markets where
ur own trade interests REQUIRED nav. I