Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-10-31
ON MATTERS
OF BUSINESS
Nationwide Optimism Shown in
Editorial Comment on Present
Conditions and Opportunities

The swing toward business prosperity,
which was noted throughout the country
last week, and which made the editorial
pages Of the newspapers such cheerful
reading, is even more marked this week
Few are the dscordant notes which COM
monty occur in political discussions.
without partisan bias the papets of the
United States confirm prosperity not as
political asset, but as a fact. The cot
ton situation in the South seems to have
settled to certain extent, and support
ers Of the present Administration are
warm in their approval Of the resolute
stand made against the cotton amend
ment to the war tax bill Even the Presi-
dents remarks about business depression,
and It's connection with nerves has
brought but little sarcastic comment, In
significant in comparison with that
brought forth by his Psychological de-
preston" OF some time ago.
The prospects for foreign trade, now
including cotton by reason Of Great
Britaln's decision that cotton would not
be considered contraband, seem very
bright to tho editorial writer's, and tho
increase In shipping tonnage under the
American flag is taken as a promise OF
q strong merchant marine. further
significant feature of the week, much
commented upon, Is the suggestion made
by Sir George Paish, that probably Great
Britain would be willing to take part OF
5000, ,O0O, 900 In cotton, instead of In gold in
payment of the country's debt to her
Does Mr.. Wilson suppose that business
men. manufacturers. farmers and laborers
have only to wish good times, when. pres
TO, good times appear7 10 1t not just possi-
bic that, in addition to lack of confidence
there are certain fundamental reasons TO
be found in the Democratic policy that ex-
plain the sudden transition from pros
perity under Taft to stagnation under
Wilson? If these fundamental reasons
did not exist It would be much easier to
correct the state OF mind that the Presi-
dent holds responsible for existing condi-
tions.-Sprtngfleld Union.
Many men who make a study of such
matters predict that next spring will see q
great forward movement in American in
dustry and commerce. which seems quito
likely. When New York and New Eng
land begin to show optimism the rest Of
the country may we'll cheer up bit. We
have the stuff to sell and are finding the
market for it.-Indianapolis News.
Unreasoning conservatism Is having its
usual baneful effects on business in the
reduction of wages and dividends. Many
American companies have earned their
dividends, but have not paid them. This
inevitably curtails the Income of all
stockholders and wage-earners; they in
turn decrease their purchase of goods,
and this reacts on the merchants and all
lines of manufacturing. The only excuse
given for not paying earned dividends Is
fortifying industry against war emer-
n Ia n yuil
be boarded in the treasures Of railroads
and Industries and not spent for useful
enlargements, or the promotion of new
business.-Milwaukee Journal
The royal opportunities arc ours. but
we must build the roads to them. We
shall have a merchant marine when we
meet the logic OF the situation. even II
that logic leads to ship subsidies. We
shall not have South American trade un-
I'll we have accepted the facts as they
exist, until we have settled the primary
problems of banking and exchange and
realized that the nation that buys the
products of another nation will, In the
long run, sell its own products in eX-
change to that same nation.-Albany
Knickerbocker Press.
The true way to develop our trade with
South America and expand our merchant
marine is for the Government to give
ship owners encouragement to build on
their own account. Most other Govern
ments stimulate the growth OF their mer-
chant marine by national aid. II has been
proposed that S30.00O.0O0 OF public money
shall be devoted to the ADMINISTRATORS
project. This sum is three or four times
the amount OF Federal aid required to
offset some of the disadvantages under
which our merchant marine Is laboring
in its competition with our rivals.-Boston
Transcript