The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1914-09-30
BUSINESS BETTER
IN SPITE OF WAR
Each Week Shows Prog
ress Being Made
ALONG THE INDUSTRIAL LINES
And Toward Resumption Of
Commerce Tendency
Toward Improvement.
WAR WILL SETTLE" AFFAIRS

New York. Sept. 2S.--In spite of
war arrangement and consequent
dangers, the tendency of financial
and commercial affairs inclines to-
ward Improvement. Each week
shows some progress in the efforts
| for business resumption. Since it
is facts that count, some of the facts
of Improvement are herewith cited:
The successful placing of the
500, 100000 New York City loan.
Formation of the $1O0.OO0,0O0
gold pool, New York contributing
$45. 100000 and Chicago $4,000
OOO.
Decided Improvement in foreign
exchange situation.
Surprising increase in strength of
Bank of England.
Indications that rc-opening of
London and New York Stock En-
changes will be earlier than at one
time expected
November 4. and will be partially
curtailed on October 4.
Prospect of early resumption of
New York Cotton Exchange.
There is very gratifying reeoy-
cry in our export trade.
The disposition of the Federal
~ 81. Il
mate manner resumption of bus
mess is more marked.
The application of the railroads
for five per cent. advance is re-
ceiving widespread approval.
A decrease is reported in the num-
Der of idle cars
OF course it is folly to ignore
the fact that the business situation
is still enduring extraordinary
strain; and the future continues to
demand great prudence and self-re-
straint Any violent outbreak of
speculation, either for the rise or
fall, would probably invite unfavora-
BILE consequences. Even in the Unit
ed States liquidation is still incom-
plete, as shown by the declining ten
dency of high-grade bonds, cotton,
steel products and many other COM
modities. =.
1t must be universally recognized
that there has been serious I'M
pairment of the worlds buying pow
er, not only in Europe, where the
rage of war is devastating property
and life beyond imagination. but in
! the United States where the conse-
quent breakdown of credit and the
arrangement of our foreign trade
! has placed severe restrictions upon
regular trade and imposed an almost
complete embargo upon all forms of
new enterprise. At the same time
the present blockade of financial and
industrial activity cannot last. Much
depends upon the course of the war.
The more promptly that horrible
struggle ends, the more prompt will
be the general recovery.
But no substantial peace plans are
in sight. Apparently nothing but
exhaustion will bring the contest TO
an end. and as that means a collapse
of some of the most powerful and
world has ever seen, such IA catastro-
phe will exercise depressing infu-
ence for many months II not years
to come.
On the other hand, il is quite pos
sible To eXaggerate the harmful eff
fects of this war, especially in the
present depressed mental atmos-
phere of the estire world. The loss
of life. the destruction of property
and the wasteful expenditures of
war are only too we'll understood.
Nevertheless. the costs of armed
peace have been so territically high
during the past decade that one of
the certain effects of the war will be
to greatly reduce the annual bills
fos militarism which have been es-
timated at about $1,000, 100000 a
year for the five great nations now
at war. III these expenses could be
reduced one-half. IL would greatly
facilitate the payment of the war
debt which posterity will have to
meet, and also permit an earlier re-
sumption OF enterprise, through the