Daily capital journal. (Salem, Oregon) 1903-1919, 1914-01-02

g obligations to the public they must have
/ the wherewithal to do it. Immense sums
r are needed for terminals and other i'm
4 provements which cannot be paid fol-
d out of earnings. Increased expenses and
p decreased profits have weakened their
/. credit and no solution of the difficulty
S is afforded except reasonable advance
] in rates The more favorable attitude
, of the public toward the railroads will
probably influence the Interstate Som
1 merce commission and there is conse.
2 quently better reason to hope for fair
treatment, A favorable decision for
r financial reasons, but as further in
dication of modification of the antag-
onism Of the government toward large
: business interests.
Politically the outlook is distinctly
brighter. Signs are multiplying that
the wave of radicalism which swept
the country for the past two or three
years and which showed itself conspic-
: uously in the movement for govern
ment ownership, is on the wane. Con.
servative forces are reasserting them
selves and there is reason to hope that
many of the political illusions and vag-
aries which have been dangled before
the public Of late will disappear. The
congressional elections take place next
fall, and more or less talk and agitation
may be expected; but little serious leg
islation will be attempted during 1914.
Mr.. Wilson is openly disposed to dis
courage any further disturbing agita-
ton, but rather to favor policy of con-
structiveness which will tend "to build
up business upon sound lines" Thanks
to his unquestionable sincerity there is
every reason to hope for temporary
relief from political disturbances, par
ticularly should business recover its
normal activities and thus remove one
vital source of discomfort.
Commercial Industrial and Financial
Progress.
The nation enjoyed one great bles-
sing, and that was good harvest which
proved better than earlier reports in
dicated The total value Of agricultur-
al products for the year has been esti-
mated at $9,OOO,OOO,O0O, which about
equalled the previous year. The value
Of twelve leading crops was given at
nearly $5,OOO,OOO,OOO or more than
$lS0,0O0,000 ahead of year ago--a
very satisfactory result when we con.
slider that the comparison is made with
a bumper corn crop in 1912. Our corn,
cotton and wheat crops all proved to
be large, and brought good prices. This
indicates that the agricultural classes,
the backbone of the west and south, are
enjoying prosperity. There was no
disastrous deficiency in any important
crop, except in the animal Industries.
Meats continue scarce and high, and as
yet there has been no decrease of i'm
portance in the high cost Of food, which
is the largest item in the family ex
penses of the bulk of our population
The dear food problem is one that can
'only be solved by wise study Of econ
omic methods. Legislation can do lit
tie. High prices are somewhat due to
population increasing more rapidly than
production. They will eventually work
out their own cure by turning attention
back to the soil. Our agricultural col.
leges are doing vastly more than poll
ticians or visionary doctrinaires can ev-
er accomplish toward lowering the cost
Of living. They are teaching thousands
Of young men how to increase product
per acre, and ere long beneficial results
must follow. Our farms under modern
methods and intensive cultivation will
easily produce much more and enable
the farmer to sell lower and still main.
tain better profits than old.time meth
DDS ever expected. This is one Of the
promising features of the day that
should not be forgotten, in spite Of
the slow subsidence Of complaints
about high costs Of living.
In one other respect the nation has
been particularly fortunate, Our for
eign trade is growing at tremendous
rate, Our exports for ten months Of
the calender year were $2,OO5,OO0,OOO,
an increase of about $l30OOO,OOO over
last year. Larger shipments Of agri
cultural products were the main reason
for this expansion, but prominent
feature is the growing export move
ment in American manufactured prod.
ucts, particularly those Of iron and
steel. Imports during the ten months
aggregated 81 ,46O,OOO,OOO a decrease Of
$50, 100000, largely owing to delayed
purchases resulting from tariff changes
-.