Las Vegas optic., 1914-11-03

tries were much deranged by the waI
and the fall in cotton, but are now
showing greater steadiness and activ
Iity Such facts as these are already
Itno familiar. They chiefly reflect the
shock of the European war upon the
United States. Fortunately, tnere is
good reason to believe that the first
effects Of that shock are already over
There is every encouragement for be
Ilieving that the rebound has fairly
Ibegun. Recovery is already in sight
That our financial resources have
been successfully placed on war bas.
is, and that the mobilization in this
respect is almost complete, are demon.
srated by the facts cited in the first
paragraph of this review. We must
not forget that this country will be
affected less by The war than any
ether We have this year been blessed
With a bountiful harvest, including the
largest wheat crop on record, for which
We shall find good foreign demand
at profitable prices. Throughout the
wheat belt prosperity is everywhere
in evidence, in spite of the war OPP
timism reigns supreme here. The
south, moreover, has now less to fear
from the effects Of that catastrophe
Seevral million more bales of cotton
have been raised than can be con
lsumed, but it is quite likely that the
lfcreign takings Of cotton will prove
considerably larger than at one time
expected.
AS for the war. its effects upon the
worlds commerce and finances are Sc
|rieus enough. Yet the blow has been
met in all countries with greater for
titude and success than could possibly
have been anticipated. AS yet there
are no signs of an approaching end,
and the conviction grows that the
struggle will be long and exhausting
one. What the effects of long con
test through disheartening winter
will be upon the temper of the COM
bstants, remains to be seen. It should
give opportunity for return to reason
on all sides. If continued indefinitely
a grave economic crisis will be un-
agoidable. The financial and indus
tlial exhaustion will be more complete
to all concerned; and it would seem
that if passion could be laid aside bet
ter terms could be obtained on all
sides by an early truce and resort
to diplomacy and arbitration for ad-
justment than by continuing this aw-
full carnage. Justice, and not force,
VII lead to the right
Congress is now adjourned and the
country is assured of rest from legis-
lat1ve agitation for some time to come.
The election promises to be quiet
enc, and no changes are anticipated
that will be disturbing to business.
The efforts Of the railroads to secure
the advance in rates from the inter
state commerce commission, accord |
in9 to all accounts, do not promise
very successfully. There are signs in |
the committee Of a willingness to
make concessions to the railroads. If |
tEis should be true an important fac |
tor Of encouragement will disappear
There has been sn increased move
ment in investments of the better
class. Prices are exceedingly low and
there is no lack of bargains to be OBJ
tanned by buyers with ready money.
We're the local exchange opened and
values fairly tested by the conflict Of
opinion between buyers and sellers
there would likely be considerable in
vestment buying Well selected in
vestments should bring good profits at
no very distant period Strong ef-
forts are being made for reopening
Of the Stock Exchange, but much de-
pends upon the action of London,
where several plans have already been
proposed that would seem to be near
a solution of the difficulties at that
center. The moratorium expires in
London next week and is not expected
to be renewed, the situation there
daily and persistent improve
mont. Thus far Europe has financed
the war, which is costing, it is claim
ed, at the rate of about s50,OOO,OOO a
day, without for the time being any
apparent serious difficulty, which is
certainly q worlds record experience.
HENRY CLEWS.