The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-08-25

panhs, but there are LEGAL rea-
sons growing II of the ten per cent
tax on the issue of State banks. &C
well as serious practical reasons why
1t Is thought impracticabIe 10 ALLOW
State banks to issue notes under the |
VreeIand-Aldrich act. With proner
Cooperation however on the part of
the State banks will
be able to secure adequate funds from
their correspondent national banks
Speaking generally the recent fnan-
cial legislation not enlv gives tho
South s15s, 600, eco of new currency
but the enormous sums of new cur
rency open to their eorrespondent
banks in the big cities would make
it possible fer these latter banks
to lend a much larger measure Of as
Istanc in connection with mevin.
and holding crop than has heretofore
been possible.
new currency there ought to be no a.
naneIai difficulty in dealing with the
present situation. provided there ia
such cooperation between the banks
as mutual interest would seem to re-
quIre and guarantee.
Two Problems Untanslf.S.
The transportation problem has
also bee largely solved, though not
altogether SO, and the problem grew
ing out Of the international exchange
Is likewise approaching final solution.
The channels of ocean trade are
being cleared SO that the ships of neu-
trails and OF the antrGermanic lines
VIII soon De ready to resume traffic.
Indeed they are already occurring
Undoubtedly reeent legislation ad-
hitting fOreign-buift ships to Ameri-
can registry n providing for gpy-
insurance Of war risks will
result In bringing d the Ameri-
can flag several hundred vessels;
while the proposed legislation author
lZlng the government to buy ships and
operate Them through a corporation
would furnish many additional YES
sells and thus reasonable ~transperta-
ton Tor our foreign, especially export,
commerce will be provided.
Merchant Marine Coming.
The Senate called attention to the
fact that h New York papers Of Fri
day announced that on account OF the
practical destruction Of Germany's
f~acturers Of Great Britain were ac-
lively preparing to meet the resulting
enlarged demand in foreign markets
for their manufactured products,
growing out Of the enforced with
drawa1 from those markets of Ger
many, by all odds their most active
competitor.
SHho nc Liz Sc6id dIlO IE
thought it was true, the probabilities
are that England instead of curtailine
viii increase the output of her cot
ton mills. At any rate, it is a fact
which should admonish the American
manufacturer that there is also ar
opportunity which has not heretofore
been open to him to get a foothDlG
for his products in the great neutra-
markets Of the Orient and South anG
Central America, and while we haC
nothing ike adequate transportation
to those markets before the war, ane
such as We had was hat furnished tt
US by our competitors in these mar.
kets who, Of course, looking to theil
own interests furnished this trans
to us upon conditions tina.
put us at a disadvantage, it is alto
gether probable, in fact almost Ger
tain if the bill providing for govern
ment acquisition of ships passed, il
that many OF these ships will be EN-
ployed in meeting cur transportation
needs in our trade with the neutra
countries Of the Far East and to tn.
south of us, thus making it possihl,
for as to- meet Europe in these ma
kets upon equal terms as to trans
p%0rtation.
From a commercial standpoint
the war has it's disadvantages, but i
also has it's advantages and ha
opened doors of opportunity to IA
which might have remained close'
for many a to come.
All that is necessary to work ou
the difficult problems of the Situation
and reap he benefits that are pessi
BILE is corporation, re~Sourcefulnes
and initiative in meeting new condi
tons, a1ertneSs in taking ~advantag
of new opportunities together wit
courage both in initiation and execu
ton"
. INSTITUTE I'm ONSLOW