The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-05-24
THE OUTLOOK BRIGHTER;
PESSlMiSTS SEE LIGHT
People Who Have nccn Predicting !
Panics and Things Finding the
Error of Their Ways.

That -. politicians aud others in
tho ranks OF the pcssimistS who have
been making doleful prophecies arc
beginning to sec the error of their
Judgment is very manifest The sum
taken from the indianapolis News.
shows that even that paper has re
versed it's former false doctrine:
Writing from New York to the Gin
cinnati Enquirer, Holland" says that
some OF the host judges OF business
conditions have withib a few days
confessed to a change OF Wow. or. if
not exactly that. nevertheless to Il
suspicion that tho country has prac-
ticaliy reached the Obj OF depressing
business and that the beginning Of tho
Hood seems to be observable" 1t Is
certain that there is "a much more
cheerful feeling In New York, which
is all the more remarkable since
word comes from the Continent of f.u-
rope that business conditions there are
not especially good, and that there are
no evidences that they will show inn
provemcnt this summer
one of the encouraging factors is our
foreign trade. which Is most salts
factory. The people who are slaves
TO the balance of trade theory are
getting much comfort out Of the fact
that the balance is. III spite Of the
new tariff largely in our favor and
Is apparently growing. II is believed
the present year VIII show favor
able balance of from $3.50. 600. 600 to
5000, 100000. 1t IL believed. further
that VIC are beginning to adjust our
business to the new tariff law. Our
manufacturers do not seem TO fear
competition In foreign markets. since
which depends upon cutting OF prices.
secret bonuses OF rebates. but upon
the high quality of the commodities
and the facilities with which they are
delivered with the least delay 10 pur
chasers. Perhaps after time We
shall. under the present tarim. have
that sort of competition In this coun-
try.
New York furthN' derives encour-
agement from the high character Of
the Federal Reserve Board appointed
by the President. Tho confidence that
| is felt in the board will. il is said,
END the hesitation or doubt which
has at least indirectly. affected bust
ness" OF course. the greatest innu-
ence Of all is the fine outlook for good
crops. Holland" says:
"As the days pass by and favorable
weather conditions continue the hope
gets stronger and stronger that there
will be harvested this year certainly
az much as So0,000.oOo bushels Of
wheat. and possibly 9oOooo.00o. There
is no conceivable political or financial
condition which can offset the stupen-
dous stimulus which is sure to be ere
ated by a harvest of this kind. That
Is tho common opinion in the finan-
| cial district of this city"
! 1t is cheering To learn that the New
| Workers arc beginning to suspect
that possibly the American people
have taken unnecessary fright" As
/ York City. we can all rejoice to learn
that there Is i/,w suspicion that II
was "unneccssary." There is. 1t Is
I said. a feeling that the dcma Sogues
and the other radical politicians are
no more than scarecrows. not worthy
OF n moments ATTENTION" Here Ger
! tainly is a great change for the bet :
tor. Our authority sums the case vi
! thus:
The underlying impulses in indus
try, agriculture and commerce In the
! United States are too strong. in tn
I. opinion of competent business moi
here. TO be rcprcssed for any consid-
cradle length of time. These impulses
will sooner or later assert themselves
and will triumph over any that are oil
II depressing character"
! If New York is not careful she will
find herself guilty OF the sin Of opti-
nism. Eut II will do her people no
/ harm to look the bright side OF
/ things. Prosperity In this country de-
! Ponds much less on what is done or
not done 1T Washington than on what
| Is done on the farms and in the shops
and factories.