The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-06-09

the DernCcrdt1c state CONVENTION |
Thursday night, June 4, 1910
If We would place the business at
mosphere Of the ountry on a sort of
commercial weather map such as is
used by the weather service, we should
find a curious condition. In the ex-
treme southeast and outhwes would
be areas where the business barometer
is high. All through the great CEN
trail part of the country, where the
bulk Of our wheat is grown would be
another great area Of fair weather
and high pressure. Over the great cot
ton areas of the South would be no
depression, not even unsettled conol-
tions, but a normal looking for great
agricultural favors expected to come.
High also prevails where
automobiles are made in and about
the Lake area. over the northeastern
States would be found a section OF low
barometer and marked depression. III
4 state of mind of the different parts
of our country could be haded IN
colors, the great body of the west
would be white, while an area of duli
gray would represent our Northeast
eTn States.
One does not mean to deride a de-
pressed state Of mind in speaking of
it as a psychological condition. The
people that feel hat way feel just as
badly about it as if the condition were
physical rather than psychological.
The hope lies in the fact that the
realities Of the physical condition may
SO assert themselves ere long that the
mental state will adjust itself to them
and be relieved.
Taking the Larger View.
Before, however, we discuss further
current conditions in our own country,
let us take a larger view. There is
in The of May 16, an un-
usual article under the heading, Geo
graphical Distribution Tested" which
deals with the rise and fall of Securi-
ties in various parts of the world. The
table given shows the record Of spe-
cifc bonds in Canada, Mexico, Brazil,
Argentina, Turkey, Japan, Russia,
and Australia. 1t shows that nearly
all the securities named rose from
1904 to 1910, and that every one OF
them fell from 1910 to 1914. They
include government, municipal, and
railway issues. Some of the results
are very striking. l use the words
of the article itself:
Take first two countries as widely
different as Canada and Japan. They
are separated by hundreds Of miles OF
ocean. They have little or nothing il
common, and the rad influences
that affect the one leave the other un
touched. Since 1910 the securities O
both countries have been falling. Mon
treal City 4 per cents have declined
IA "a; Osaka City 6 per cents, II l.:
points; Toronto 4 per cents have los
3 "a points; Yokohama City 6 pc
cents, s ga points"
Mexican government 5 per cent
have lost "a points; and lest it b
said that this is from exceptions
causes known to us all it should b
added hat Brazilian A per cents hav
gone off % points also.
Here in the countries named, select
ed from Europe, Asia, South America
North America, and Australia. is
universal fall. so far as the table goes
I'm security prices.
The same authority speaks of busi
ness in Germany as being poor.
says the coal market in Silesia is yer
bad and a 20 per CEN restriction {
production has been arranged; thu
prices on the iron and steel markt
are still lower, and the struggle fo
orders is even keener than before, an
makes this significant statement:
The attempt by the iron and ste,
producers to compensate for the dea(
ness of the home market by exporr
abroad at cut rates continues"
OF Austria-Hungary the same a,
fhority says:
"The depression in the iron an
steel market is giving way to a sligl
Improvement. The cOnSumI
ton of iron and steel had sunk
such low figures that a reaction he
to take place"
OF France it says:
I'VE have been passing throus
something like an industrial crisi
about which it is not yet clear whetl
er the turning point is passed or not
OF Argentina it writes:
The depression in trade has b
come less in spite of the freque
failures for large amounts. The we;
firms existing upon credit no long
Obtainable are being weeded out"
Nations Close Together.
Few men would be so bold as
deny. no public man discussil
economic themes is quite candid if
ignores, the worldwide conditio
which have been suggested to yC
This IS not an age in which the n
tiOns are separated. Their CONNIE
Ciai and industrial alliances on I
one hand and competitions on I
other are close. Tha which affes