New-York tribune., 1914-11-17
Good Times Getting Ready to Come Back.

Everything points now to a sweeping re'lVa.
Of business confidence. The deadlock in trade
aud industry which followed the outbreak Of the
European war has at last been broken. In yes
terdav's news two events stand out One was
the reopening Of the cotton exchanges here and
in New Orleans The other was the Inauguration
Of the new federal banking system Two power
fu steadving influences were thus applied to
bu.iness. encouracinA those who have been mark
ing time since August ! to believe that activities
Of all sorts may be resumed with comparatively
little danger
Other influences have contributed to lift the
embargo under which trade has stagnated. The
foreign exchange situation has been cleared up
Sir George Paish's visit here has had the effect
of Strengthening out the difficulties in the way oil
a cash settlement Of our balances with Great
Britain. Arrangements have been made to meet
all our accruing obligations without seriously
depleting American gold reserves. Since We are
to settle large part of our foreign account in
commodities. our export trade must speedily re-
vive. In the last half Of October and the first
half of November exports showed remarkable
recovery. They will soon be nearly back 20 their
normal volume Last, but not least, the result
of the elections buoyed up faith in the future Of
American industry and investments. The voters
in the big industrial states have made it clear
that they viii not stand for another administra-
ton which hampers business, starves the rail
roads. promotes unemployment and introduces
hard times.
The troubles which the European war brought
on Us we shall get rid of as the war progresses.
France is making preparations to open the Paris
Bourse and the London Stock EXchange will
probably begin to operate again within six weeks.
Our exchange will undoubtedly be able to resume
business when the London and Paris Exchange
do The war will continue 20 eat up vast guam
titles Of capital and affect credit the world over.
But there are still many compensations to a
country as fortunately placed as the United
States. which has surpluses Of foodstuf- and Of
manufactures to sell and finds not only an in
creased demand for her output in some of the
belligerent countries, but olso new demand m
South American countries, whose commerce with
Europe has been greatly reduced.
We shall certainly readJust Our foreign trade
relations with ultimate benefit 10 ourselves. In
that field courage and confidence are needed, and
the country is now regaining both. As far as
concerns the troubles which have been self
created and which antedate the war the remedy
is with the voters, and they have demonstrated
that they know how to apply it, When state
like Missouri annu!s by popular vote full
crew" law passed by the Legislature and signed
by the Governor a revolution in popular senti-
ment is not couple Of political campaigns ahead
Of Us. 1t is already here
The people have had enough Of the business
batting which makes it harder for every citizen,
whether in business or out Of it, to make living
They want to see the present era of destruction
ended and have it followed by an era of re-
construction. Give business a chance Allow the
railroads to earn enough to pay their way and
sustain their credit. Then we shall have again
prosperity of which all may enjoy the fruits.