The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1914-05-19

NEW YORK, May 19.-The devel
opments of the week as whole have
been favorable. Notwithstanding fami-
liar discouragements and pessimistlc
habits to which many are weakly sub
hitting, there are several very import
ant and fundamental reasons for TAX
ing more confident view of the fu-
ture. The crop outlook is more en-
couraging than for many years; and
even If some setback should occur,
as is not improbable, the margin Of
advantage is so great as to still af-
ford splendid promise. This is espec-
tally true of wheat, and the corn out
look is also excellent and promises
a liberal increase in acreage. More
over, the fruit outlook is satisfactory,
and indications point to a fair in
crease in the acreage of cotton. May
has been a cold month in all parts of
the country; consequently some crops
are rather backward but few days
OF warm weather would quickly recoy-
er all loss ground from this cause.
Another satisfactory element is the
general soundness of business condi-
tons. Persistent liquidation has weed
ed out nearly all weak spots. There is
little over-trading or over-eXpansiOn
in any direction. For some time past
business has been conducted on a
hand-to-mouth and bedrock basis.
Commodity prices have shown very
considerable decline. There are no
over supplies of desirable merchandise
and basic conditions generally are eX-
ceptionally sound The situation is
positively ripe for fresh forward
movement in trade and industry as
soon as confidence is restored. Conf
honca iS the chief plpmpnt lacking
Still another favorable element is
the growing impression that before
very long some concessions will be
made to the railroads in the matter
Of rates. These concessions Will prob
ably be kept down to the minimum
but a genuine disposition to deal just
ly by the railroads would undoubtedly
have a more favorable effect than the
mere concessions in rates. An i'm
prOyement in business would also be
more beneficial to the roads than any
increases they are likely to secure in
the matter of freight charges. 1t Is I'M
fortunate that the disclosures regard
ing New Haven should have been
made at this time. Such misdeeds as
those charged invariably bring retri-
button at one time or another; but
justice and not vengeance should be
the spirit in which the Government
deals with all interests; and punish
ment for such misdeeds should be Wis
tied upon those who committed prov
ed crimes rather than upon innocent
stockholders who have already Suf-
fered severely for the bad judgment
If not WrOng dOing of others.
There is more or less talk of an
early adjournment of Congress. some
dates being named as early as the
middle of July. Such ne~@ IS almost
too good to be true; and if the pres
ent antitrust campaign, the canal
problem, the Mexican question and
the annual appropriations are to be
settled in that time legislation will
have to proceed at breakneck speed.
There is still reason to fear that Con-
Sress will last we'll into, if not through
out, the coming summer.
Indications point to prolonged ease
in money, at least until the crop de-
mandS begin next autumn. Dull bust
ness is, of course. the explanation of
this condition. Considerable gold eX-
ports are anticipated. Yet there is no
expectation that these will have any
important effect upon the local mon.
etary situation, for this country has
plenty of gold to spare for meeting
E,urope's needs, the effect Of which
Indirectly will be beneficial to our
selves The gold movement will be
somewhat facilitated by the course of