Daily capital journal. (Salem, Oregon) 1903-1919, 1914-09-16

spread desolation and suffering may
cease. II is to be hoped that tine pray
ers OF the millions upon millions Of God
fearing people of all ereeds, in all ma
tions will be answered and that TIE
wholesale slaughter, the destruction of
homes, the waste of the savings of the
unfortunate people shall not be per
mitted TO proceed to the extreme of
complete exhaustion. Let rs hope that
the day appointed may in tact prove TO
be day of thanksgiving that the de-
plorable conditions have ended.
When the war has ended new eondi-
tions will arise. The international
struggle will of course have to be fin
anced. The burden of taxation will
bear heavily upon the people of all
the beligerent nations regardless OF
which side may be designated the final
apparent victors. Happily, our own
country has not been drawn into the
maelstrom and our increased taxation
is merely the result of the interference
by the foreign situation with our rou'
tine revenues. With the great derange
ment and destruction of export markets
that have heretofore been served by the
beligerent nations our own manutac
turers and merchants will unquestiOn
ably find many favorable export op
portunities. Congress has already
enacted legislation that undOubtedl.
; means the establishment of merchan
marine which will -turG facilitate tn,
expectation of the products of Ameri
can farms and American mines and Am
erican factories. All this means al
increase in our national activities. !
ut once suggests an increase in tn
freight tonnage carried by our rail
roads and in the volume of the product
of our manufacturers. Still further, a
increase in the vulOme- EFF bushes
means a corresponding expansion Q
profits; hence in the value of securitit
of the various transportation and ii
dustrial agencies. 1t may, l.believe, b
taken for granted that American for
sight and ingenuity viii be found con
pletely equal to the task OF taking fu
advantage of the opportunities that a
SO clearly in sight
There is still anotner favorable fe
ture of the situation that will in Q
probability follow the derdngeme
caused by the European conflict. | I
Ter to the worldwide necessity for eco
omes that will be forced in all branch
of national, state, municipal as well
Individual affairs. Extravaganza h
been increasing on such phenomen
scale that some check has long be
needed. The real effect will be +;
reaching. Abroad, the race for CONF
ttive ornaments will presumably e
for considerable period with the Z
mnation of the war Our own peOl
have undoubtedly received an obj'
lesson of the necessity of accumulate
for a rainy day. They may with 60
reason be expected, when their incon
return to normal basis, to take
vantage of the low level of high gri
securities as the best method If inv'
ing their savings.
Viewing the situation in bro
light. there seems no reason to supp
that the recovery that will inevita
follow the current depression that
been forced upon this country by eau
over which it has had no control '
be rapid and substantial The gov(
n ment S report on the grain crops VII
- was published this week is certal
suggestive of this rapid recovery 81
it forecasts such great prosperity am
the farming interests, which are
backbone of this county. The wi
T. crop has virtually been harvested
final returns will show very close
- total of 90O,O0O,OOO bushels # ind
that mexampled mark is not excee
,rV when the governments S final har
returns are published in December.
only have our farmers an unpreeed
ed wheat yield, but as result of
I war they are TO combine the unn
factors Of large yield at nigh pr
There seems slight reason to doubt
Europe will require every bushe
wheat that we can spare and vii
willing to pay cOrrcspondingly pr
able prices to our farmers. MeanV