Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-01-03

$4,000 per year. or by 80 per cent
whereas the increase in population wa
not at much over half this rate. Tfs
each year, and raised anew the ques
caused a rise in the percentage faiIint
ton whether the heavy increase in til.
number of trades was justified by It'd
volume OF business done and fha
known fact that profits over that tine
were complained Of
| The liquidation in the stock markpr
in 1913 was apparently thorough With
out being panicky. Trade and indus
try in turn showed symptoms d
an orderly retreat rather thar
of precipitate flight, and sines
the improved feeling noted in the las
ter weeks of 1918 set in, less is hear
of rumors of business troubles In TIA
and other cities. The complete hs
tory of the 1902-03-04 COLLAPSE and
quick revival, some of whose esriei
happenings were closely paralle1ed b
1913, will repay perusal because hold
ing some lessons and indeed some En-
couragements. 1t is generally conce&
ed that while the entry of industry
into the stock market in a cSpitalizet
form has made it more sensitive to
unfavorable happenings. it has also
made it quicker to respond later 70
improving influences. The best judg
ment seems to support the view Tia.
money, the great desideratum in ar
ance and trade, will be both cheapg
and easier TO obtain in 1914 than .
1918. The passage of the currelg
bill is expected to be an aid in this n
specr, whatever may be thought q
ultimate effects of the possible infE
ton feature of the new measure, whid
has supplanted a seriously defective
system. OF course, any ill-considerst
rise like that of 1905, with its after
math of deep depression, is to b
avoided. and the possibilities Of Eurcps
endeavoring to further liquidate u
burdens in American markets are o
though our immense credit balancs
may help US in this respect. Money
however. should be plenty for legin
mate trade and industry in 1914. ana
the absence of burdensome STOCKS
owing to long continued hand-to-mouu
buying, should be helpful. 1t will MOI
be forgotten tina, many crops were
short in 1913, and prices, Particular
Of food, were high, which may nave
helped agriculture as whole. thouea
no country ever made much mones
out of its own crop shortages. As
1914 crop conditions, it may be say
hat said conditions are favorable shs
winter wheat is In excellent snape
The matter of possible railway rs's
advances presses for early solutioA
AL of the advances asked for In w
ears would have been insufficient
save some badly managed enterprise
rom the effects of their own sins. oes
he justice. indeed the absolute necss
'ity. of allowing the railways TO reco2s
themselves for high cost of operaslsl
an hardly be denied. In this matxa
he augurieo at the outset of the yea
re thought favorable, and II tnV
rove SO should have an important g
ect in stimulating demand for vss
ETY. of articles which move throos1
he marts of trade. Whether any gfsA.
liquidation in commodity prices Is pos
ible in 1914 is doubtful, and withoa.
hat the often predicted liquidation
abor seems to partake OF the natnls
4 dream High costs of all ops's
ion, In fact, seem to have come
tay. but II does seem possible 70 mass
rcgress in the matter OF reducing ns
iorld's most useless expenditure. ina
Or ornaments. Time will. perhaps
eeded TO heal the bruises: they wess
ardly deep-seated injuries that ~
usiness world received in 1913, -
asst experience would seem TO indicaN
nat. lacking any serious damage
lie business fabric. of which there ~
o really tangible signs. a coIt's,
vely quick revival from the quiet "
lie In many lines should ensue. ecs
rned. CT course. by the money az
rop developments of 1914.