The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-07-20

erations OF . more favorable nature,
In order to counteract the abnormal
pessimism which is often beyond JUS
LITIGATION. There is one important fac
tor not yet sufficiently realized in
this part Of the country; and that Is
the crop outlook. 1t should not be
forgotten that this country will prob
ably produce about nine or ten bill
lion dollars worth OF new wealth on
the farms this year. We are practic-
ally sure OF the biggest wheat crop
on record. A large corn crop is in
prospect; and the outlook is for q
good cotton crop. Certainly there will
be no shortage in these three great
crops; even II the months OF July and
August show deterioration, which Is
usual and which should really be ex.
pected. The cattle yield may be short,
but that Is because the land Is being
turned to more profitable uses.
Throughout the west, there is a spirit
Of well-founded hopefulness among
merchants and manufacturers. This
will be powerful stimulus; for east
ern pessfmists in this part Of the
country cannot fail to share In the
prosperity which nature Is bestowing
upon the west. Another fact OF de-
cided encouragement Is the resigna-
ton OF Huerta. This renders still
more remote the possibility Of our
armed Intervention In Mexican at
fairs. Those who succeed to the gov
eminent Of Mexico are likely
to pay more respect to the
wishes OF the United SECS than
Huerta in the rehabilitating Of that
unfortunate country; and the result
will be healthful to Mexico and serve
to promote more harmonious relations
with the United States. A few weeks
ago, Mexico was highly disturbing
factor In this market; but that dan
ger has now certainly practically dis.
appeared. This change for the better
has not yet been discounted. Still an
other favorable symptom which has
not yet been sufficiently recognized, IS
the more friendly attitude OF the ad-
ministration toward big business. The
coming Of a better understanding be-
tween our industrial and mercantile
leaders and the government at Wash
ington Is a factor of decided promise.
The administration policies are al
most entirely completed; and the out
look is that the antitrust measure,
which congress expects to pass be
fore adjourning, will be framed upon
more reasonable lines than at first
anticipated. One more element OF
encouragement is the money outlook.
During the next few months there will
be no lack Of loanable funds to good
borrowers, although a closer scrutiny
of credit may be anticipated. Secre
tary McAdoo's announced willingness
to release treasury funds for the pur-
pose Of aiding the crop movement
was both wise and timely Our banks
are in an unusually satisfactory con.
dition, ana well prepared to go into
the new reserve system. 1t will be
probably late In the autumn before
the new system is in working order
but the readjustment promises to be
accomplished without any disturbance
in the money market: since anything
more than ordinary stringency would
result in an influx Of gold, following
our large exports OF cereals and other
| products. a
| Taken as a whole, the outlook Il
that good crops, easy money. the
elimination Of Huerta and the more
friendly attitude OF the administration
| at Washington will DO much to Offset
the many unfavorable conditions
which have already been largely dis
counted. Better grade securities are
selling at attractive prices, and there
is a quiet absorption of these going
on which will ultimately lead to
scarcity and better prices. 1t is rum
ored that the rate decision will be an
nounced this week. II so, 1t will serve
as a controlling factor for the time
being. Should favorable decision
be forthcoming, which just now is less
hopeful, but, If otherwise, it will DO
much to restore confidence among in
vestors and Industrial leaders. II the
decision is unfavorable, still lower
prices may follow unless the effect be
discounted in advance. For this rea'
son continued caution Is necessary IN
ell financial transactions.
HENRY CIIEWS.
she Is A WISE WOMAN
xyho rocppp}zes in tine tell.talo