Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-06-26
THE TIDE TURNS
TO PROSPERITY
Portland Oregonian Con-
found Calamity Howling
Republican Platform
PREDICTS PROSPERITY
Bountiful Harvests Now BeinS
Carnered and Railroad Case
Nearing Decision.

AS if in reply to the calamity howl
emitted in the Republican state plat
form, the Portland Oregonian of June
%, printed the following editorial un-
der the caption, "Tide Turns to
The turn of the business tide has
already come in the East, and all
events in immediate prospect prom
Use to accelerate it's flow towards
healthy activity. Harvest is already
under way in the Southwest with
weather and is reducing the
of a phenomenal crop to a
certainty. 1t has also begun in the
Northwest-in Walla Walla and Uma-
tilla counties. The crop will be
quickly bought up, for both our do
mestic millsrs and European buyers
have allowed their stocks to run low.
In preparation to move wheat rail.
roads have concentrated more cars
west of the Missouri river than ever
before, and they will be compelled by
the necessities of traffic to put in
repair every car and engine and to
replenish their supply of rolling stock.
Philadelphia says pessimism is on the
wane and that sentiment is unques-
tionably swerving to the brighter side.
Pittsburg says, that orders for iron
and steel have increased in the last
few weeks that inquiries have broad
ened out and that buyers show con-
siderable willingness to contract for
future delivery. Chicago reports an
increase of 80 per cent in western
buying of dry goods over the same
period of last year.
The one event for which Eastern
business has been waiting-the rate
decision-is now a matter of days. A
Washington dispatch says, the deci-
sion has already been written by
Commissioner Harlan and should by
this time be in the hands of all mem.
bers of the Interstate Commerce Com.
mission. Increases in several cases
are expected, and by congressman
hoped for, though hardly anybody ex.
poets a horizontal advance of S per
cent. Although railroad officials say
that the monetary result will not be
sufficient to justify lavish expenditures
a favorable decision would certainly
swell orders for replacement of worn
out cars and rails, while the psyche.
logical effect on railroad credit would
hasten execution of long deferred
plans for improvements and extern.
sions.
The heavy exports of gold, which
have amounted to about $75,OOO 900
since January 1, are held by the New
York Times to be no cause for ala m
Gold is a drug in our banks, which
carry more specie than the law re-.
quires, and is needed in France parti.
cuiarly to strengthen banks which
have been going through financial
crisis. Bills are drawn on London in
of grain exports and rail.
road notes amounting to $4O,OOO.O 900
must be paid in gold in London this
month. Stock trade renders money
rates low in this country, while Eu.
ropes needs and demands enable it to
pay rates for gold which yield Ameri.
can bankers profit of about 81 per
$1,000.
But the outflow of gold will be
checked by the beginning of wheat
exports next month. We shall have a
much larger surplus of grain for ex.
port than in recent years. This. with
the cotton movement, should turn the
current our way, even if our exports
OF manufactures should not increase
Revival of trade following upon the
bountiful harvest and upon resump.
tion of railroad activity will increase
home demand for capital, stiffen
money rates and thus make gold ex-
ports Improbable. In short, we are
exporting gold because we do not need
it and can make profit by letting
Europe have It, When we need it.
we can get 1t back, and it will come
in the ordinary course of trade, to pay
for what we sell.
A London financial paper thus sums
up the conditions necessary to return
Of prosperity:
III some kind of order can be
re-established in Mexico: if the
United States crops turn out as
good as they now promise, and
II reasonable concessions are
made to the railways, we may see
complete change in feeling