The Bridgeport evening farmer., 1914-01-30
GENERAL LETTER ON
 TRADE cONNTltlNS ] A Business Forecast

business has been transformed into an sasmos- ,,I,szs of cheer. The peasinaist of De- cerllber is the optin1iSt or S5 anuary. Tho change in sentiment which has occurred in four weeks has made the whole business world sgloek brighter and business men generally; feel more hopeful & 4
 Disaereeabie facts were sexasgerated last month and agreeable fscts are being exaggerated now. TheHactuai change in conditions is not nearly as great as the< change In se1fam ents Some men believed pubEshedA state- rnents which appeared last zn onth that between ten and twenty million men were either out of employment ait6gether or laid off because Of slow business. As there are only about 22 million men employed in the country In all the walks of life, the absurdity of this statement is iseapparent-eA
 It is estfuatedsbys some leading sta<f tisticians that at one time1 ah6ut a week before the holidays, sorzeWheres between one million and one Taa1liens and a half men were idle, which. would atelyf5 per pent: For. per cent Of the men employed in, tho country. The entire number of th& employed includes the presidents of Ene railroads as well as the conduc- tors of the trains, the officers of the steel companies as well assthe mill ernployes and, in fact, includes all men who devote their time to any business, receiving a remuneration therefor. As from per cent. to per cent of the country's male adult pop ulation fs always idle, the added mum ber-s idle a month ago was not so un- usual as was generally supposed. Ev- en am extra 100s0O0 idle mens However, affects the whole business fabric and no EoEe factor is doing more to create an optimistic feeling among business people generally than the returning to work of thousands. of these men, Within six days, about s50, 900 men re- turned to work in the iron and steel industries This means a living fn- come for 150,000 more people depen- dent on these men. Every time an- other thousand men are added to the, payroIis,f business generally is given a boost and if the present rate of re- idle men on February first will not be greater, if as great. as the average number idle on that date for the past ten years.
 The Presidents pronouncement of fheattitude of the Government to- waz& big business has been vile re- ceiTEd- The following extract from the message which he read to Con grass on January 20tsl indicates that business will be allowed to adjust it. self to the laws and changing condi- tioils without being seriously fdisturb- ed.S' What we are purposing to dos therefore, iss happily, not to hamper or 5nterfere with business as endght- ened business men prefer to do it, Or in any sense to put iteunder the ban. The antagonisIn betVzeens business and government is over. We are now about to give expression to- the best business Judgment Of America, to what we know to be the business con- science and honor 1.-the land. The government and business men are ready to meet eachSother half way in a common effort to square business methods with both public opinion and the law" The only expression in the message which seems to have been misunderstood is the phrase referring to [" honorable surrendsr.n Not man will concern himself. with these words, even though they may have been un- happily chosen if he will carefully read the entire text of the Presidents message It is quite apparentS that - honorable surrender g was meant to mean in this instance, Mnot the sur render of -our b HsineAs nor.yet. the sur render .ofsour lights but the 1ayfne down of our arms and the cessation of hostile discussion and action Peace is desired by all and apparently busi- ness peace is nearer ours than it has been for some years past a The war between the Government and big bus mess has been at least a seven-yea1 war which has benefited one. n iss therefore, to be hoped that tfk President is right in saying that, 'sWe are now about to write the additiona articles of our constitution of peace the peace that is honor and freedom and prosperity
 Bank clearingsNfn New York Cit, were less for December, 1918, than fol the same month of 1919, but outsid, Of New York, Dacember clearing. showed gain over the previous year The clearfngs for the first part of Jan uary were less for the entire countri than for the same period a year ago.
 Business failures for Decembe numbered 1,514, compared with 131. for the same month of 1912 and tota liabilities were 31 million dollars com pared with IS million dollars in tn same month of the previous year. Bus fness failures were heavy during tn entire year of 1913 and the first fey weeks of 1914 will probably show : similar condition. The atmosphere i clearing and failures should be less a the season advances
 The gross earnings of all raiIroa d for November totaled 269 million dol lars compared with PTS millions fo the same month of the previous year a decline of millions For the sam month, net earnings declined Is mil lion dollars. It is evident that noth ing will change this situation excep the proposed advance in freight rates Advances have already been allowe to some of the southwestern road by the Interstate Commerce CouTnis sion and it is believed that the desire increase in rates on eastern roads wi
 be allowed Reports already in in
 dicate that gross earnings for Decem Der declined at least per cent a compared with the same month of tn previous year while net earnings de clined somewhere from 10 per cen to 15 per cent. These figures malx
 an unhappy year-end for the railroad
 but orders for locomotives and car.
 already placed and pending, evidenc
 the optimism of railroad rnanagemeu
 and are an indication of what wi
 -elze place should freight advances b
 --ernlitted. The benefit to bushes
 generally would be prompt and def
 lnfte--
 -n the Iron and Steel trade