Daily capital journal. (Salem, Oregon) 1903-1919, 1914-10-31
BEST OF TIMES
PREDICTED BY THE
CTTY'S BANKERS


bankers predict prosperity. They see
hope in the local and national situation.
Business has quickened. They praise
the congress that has just ended. They
place confidence in President Wilson.
Foreign exchange has been restored to
normal. More and more, they say, we
are to present to the world the spectacle
Of peaceful, profitable industry.
Oregon 3 agricultural products com
mand high prices abroad. Ships in
abundant numbers are being found to
carry cargoes. Industries are getting
orders for supplies that keep many of
them working night and day.
To call upon Portland bankers is to
receise facts upon which to base optim.
ism. The political calamity bowler gets
none of their time or attention.
''The country is in fine shape, "Tsaid
John G. Ainsworth, president Of the
United States National bank. "The de-
posits with the banks from such towns
as The Dalles and Walla Watla were
never larger. There is ready sale at high
prices for all our agricultural products.
| am informed this morning there is no
longer any doubt about obtaining all
the ships necessary. There is sufficient
money to move the crops.
Congress Work Wonderful.
:" The congress that has just closed
did wonderful work. It was unaues
tionably the greatest congress since
the civil war. The tariff was adjust.
ed and the monetary bill passed. Busi.
ness now has a clear right of way.
IL need no longer wait in doubt. !
am a republican, and some things were
done in way opposite to my own
views, but what congress has done
means much to this nation.
Our foreign relations are in good
condition. Last August our imports
exceeded our exports by $l90O0,00O.
In September our exports exceeded our
imports by $l6,00O,0OO. October will
show a balance of $l9,000,000 to 500.
OOO,O90 Of exports over imports"
Business Decks Cleared for Action.
" From speculation to progress, +" was
the descriptive phrase used by +. G.
era Word, vicepresident Of the Lum.
berman s National bank. "In the busi.
ness world our decks are cleared for
action" he said. cor, 10 use another
figure of speech, business is getting on
tolid ground. II must be admitted
that we made progress artificially, that
we made unwarranted brusiness ven.
lures Our prosperity is based on two
things-the production and sale of
farm products and the manufacture
of the raw into the finished product.
Our farm products and our manufae.
turel articles are both in demand at
fine prices That spells prosperity and
warrants optimism.
We couldn't keep prosperity away
If we tried, " said Wilfhd ?. Jones,
yicepresident Of the Merchants Ma.
tional bank. owe we got to admit that
we We gone through somewhat Of
sweating process, but we are going to
be all the better for it, What we have
to sell is being bought; demands are
War Has Good Result.
" Had Il not been for the war busi.
ness would have been moving steadily
upward before this. President Wilson
would have announced that the admin
istrari0n policies were established and
business could 70 ahead The war
came and created temporary chaos.
But i had an indirectly good result
60 Financial interests and President
Wilson had been on strained terms.
The war came in like person who
tries to settle trouble between man
and his wife. They are both apt to
turn on that person. So the war made
business and the administration stand
together with the result that business
finds II eau have confidence in the
president and can safely plan pro.
grcss. "
Factories Getting Many orders.
g find great cause OF optimism In
the orders that ARE being received by
manufacturing plants throughout the
country" " said Edgar II. Seusenich,
cashier Of the Northwestern National
bank. "Shoc factories, wooden mills,
powder manufactures, makers of gen
cral supplies are getting orders that
cause some Of them to run night and
day. We are going to prosper as
nation and az individuals. -
"li we had no cause of hope In any
other direction, the sale of our agri.
cultural products would afford Us lego
Innate cause for qualification" said
Edward Cookingham, vicc.presidcnt Of
the Ladd q TlltOn bank. "Our food.
,tufis, our salmon, our flour, are
wanted by foreign countries, and
priccs are excellent, There is money
with which to move crops, The money
Ia not theory, but fact, Oregon win
prosper and no will Portland. "