South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-07-02
FINANCIAL MEN SHOW
OPTIMISTIC FEELING
Declare Business is in Good
Shape for Boom as Soon as
Confidence Settles.

WASHINGTON, July 2.-Letters
and kilograms that are pouring in up
on Pres. Wilson and members of the
cabinet fatty contradict the pessimis-
tic reports Of the business situation
which are being so industriously cir
culated by republican politicians
Talk of panic, these advices say. has
no foundation whatever. All evidence
points 10 the largest grain crop, in
cludinr corn. in history. 1t therefore
follows the democratic leaders say,
that a business boom will quickly ap-
pear after the marketing Of the bum
per crop. The president is confident
il will be a lasting boom because the
existing doubts as TO the meaning of
the antitrust laws will be removed
and because a scientific currency sys-
tenn will then be in full operations
Stock Gamblers Depressed.
The letters most valued by the pres
ident come from the heads OF large
banking, manufacturing and jobbing
houses. They express agreement that
there is every reason for optimism.
The bar.Ks have plenty Of money and
are no. overlOaned, and the manufac-
turing and merchant world is carry
ing a light debt load.
The only testimony OF depression
comes from the stock exchange The
stock gamblers of Wall ST are not
getting as many lambs to shear as
they would like. They attribute the
slack year in stock trading TO the fact
that the president is firmly demand
ing that congress live up to the demo-
cratic platform pledges and strength
en- the Sherman antitrust law. If
enacted. the trust bills will go a long
way towards limiting the old field of
stock manipulation. The require
ment that new issues of railway Sc
curities be approved By the interstate
commerce commission, for instance.
will put an end to the old game of
selling water to the public at high
prices.
Joseph P. Tumulty, private secre-
tary TO the president. recently was
showing a pile OF the encouraging let
ters 10 Rep. Thomas L. Reilly of
Connecticut. After reading them Mr..
Reilly said:
Has Same Experience.
"My own correspondence is of the
same character. l got a letter a few
days ago telling me that because the
| employees in the clock factories in and
( around New Haven have been work
ing fewer hours the charge is being
made that this and other alleged
troubles are due to the heavy impor-
tations Of foreign clocks under the
democratic tariff / wanted to know
the true facts and asked the depart
ment of commerce to give me the
very latest figures as to the importa-
ton of clocks. The latest figures
were for the three months of this
/ fiscal year ending March 81 last
that is, for January, February and
March. Clocks to the total value of
$4,000 we're imported in those
months. For the same three months
of 1913, under republican admins
tratiOn and republican tariff. clocks
TO the value of $4,000 were inn
ported.
Investigation by me shows that
manufactures of all kinds around
I New Haven, accustomed for many
! years to a shut down or two weeks
around July 4 will not close down
/ this year longer than that and some
/ of those which have closed in the past
/ will not shut down at ALL