The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-08-31

and the great danger Is, that unless
this IL granted, the way may be paved
for dangerous inflationary schemes tn
congress. This Is the lime 1or men
to hold their heads. avoiding lmpui-
sive action and adhering strictly to
business methods which experience
has proven sound and true. The bank
ing situation in this country Is Tor
tunately sound. The country has an
abundant supply Of gold. the amour
available for banking purposes Aeing
estimated at over 81, 500. 900. 900.
The business community IN New
York and elsewhere has met the
shock far better than anticipated. VI
course. there is much confusion, es-
pecially in import and export circles
arising from the decentralization OF
the foreign exchange market This
Is abating somewhat each day and tht'
financing of imports and exports IS
becoming less and less difncult.
though the end of the trouble Is by
no means In sight. There Is now no
longer a lack Of transportation to
countries with which international
commerce is possible. Exports OF
wheat may have been upon a more
liberal scale. and are likely to n
tinue at high prices. this staple hav-
ing already shown very violent fluc.
tuations. The cotton situation 10
still serious and requires most judici.
GUS handling. OF u the four
million bales which Germany usually
takes will be carried, or consumed in
other markets, and the problem OF n
nancing the coming crop is new one
that is receiving the serious attention
OF our bankers and cotton merchants.
efficiently aided by the government
at Washington. The effect OF war up
on the British export trade of cotton
goods will not be as severe AZ at
first expected: provided England
keeps the routes to China and India
open, and provided too many OF her
operatives are not thrown into the
army. Our own exports of cotton
goods should materially incraa2s. the
conditions being very favorable 10
American cotton mills running on ex-
port fabrics. Our steel trade is also
beginning to feel the effects OF Tor
eign inquiries for steel products TO
fill vacancies caused by cessation OF
German exports. Even English buyers
are in this market making active In
quiries; and. though no large business
has yet been accomplished, there is a
very fair reason to hope for a con-
siderably larger inquiry from foreign
There Is also much interest
displayed in South American trade.
Germany had developed an enormous
commerce with South America. which
is entirely suspended. There Is no
other nation at present able to NIL
this vacancy better than the United
States. This fact is fully appreciated
by our manufacturers and exporters
Ample American banking facilities
have recently been established with
South America. and 1t SO happens
that there Ia no lack Of ships. The
west apparently feels the business de-
preston less keenly than the east.
and reports from the agricultural sec.
lions are generally encouraging. Cur
rent railroad earnings are not entirely
satisfactory, but this was to be ex.
pected In view of the embargo upon
freight in the early stages OF the
war. The retail trades in that sec
ton of the country. however. appear
to be fairly active, for the reason
that the consuming capacities OF the
people have not yet been seriously
impaired. For the time Being ex-
IRENE caution must be the only pol
icy to follow in all business affairs.
This country will weather the storm
better than any other, and when the
strain is passed we should be able to
lead in real prosperity.
HENRY CLEWS.