White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1914-08-16

how il can mean anything else. The
only danger hal threatened us was
a mons panic, and prompt govern
mental action has made that impossi-
BILE. We. the great nation of the
earth, stand with bursting granaries,
great manufacturing plants. millions
OF efficient workmen. a plethora of
money and all the rest of the world
goes to work to undo its economic
progress of years.
There can be but n result. The
wcrld must come TO us to fill its
stomach and clothe its back and if
any one can figure disaster for the
United States from that, he must
reason along a line totally unfamiliar
10 me.
Il recall family the time of the
franco-Prussian VA when present
conditions prevailed on a lesser scale.
There was plenty of money then; in
Fact, there was too much money.
Currency initiation always means
speculation. and speculation means
activity IN business and finance.
Our Great Wealth
The wealth Of the United States
Is growing at the rate Of $1,000. 0oo.-
600 annually. which rate Of increase
should be augmented by the rapid
expansion Of its foreign commerce.
on a large scale between nations
in Europe which manufacture for
the worlds markets would curtail. If
not destroy. for the time being their
export trade. There IS only one ma
ton that could take that trade and
that is the United States. Means
will be discovered or created to a r
+ the exports where they are need
ed. In fact, measures looking TO
this end have already been taken by
our government in an amendment
Just passed by the House TO remove
the limitation against admitting for
eign vessels. over five years old. to
American registry. In addition.
many vessels from the Great Lakes
and those owned by the Steel Corpo-
and other big corporations
will likely be available. 1t is under
stood, also that the British govern
is making arrangements to in
sure cargoes consigned to England
English bottoms, assuming all war
risk on shipments. American bank
ers are cooperating with the govern
here as well as with the Brit
ish interests in this matter, and all
haste will be made in perfecting ar
The following paragraph. quoted
this mornings Times covers
phase of our strong position:
"A characteristic bit of business
comes out of Kansas. 1t
is from bankers. There is too much
for them. and they are
manifestly worried. Their trouble is
that the wheat crop is so large and
the amount of money that the farm
ers are TO receive from il is so great
that the latter will pay up all the
money they " to the banks on
mortgages. In the County of Deca-
tur, for instance, the farmers expect
to get at least s1,500,0 600 for their
and all the mortgages in the
county amount to only about $1,000
900. As the farmers, furthermore,
will make about $500, 900 addi-
from crops other than the
1t will be easy for them to
pay up every mortgage and have
left for the necessities of
life, like automobiles and picture
Similar conditions are said
TO exist in other Western Kansas
counties. The problem with the
bankers is what TO do with the mon
ey they will get. Nobody in their
neighborhoods will want TO borrow,
and they will probably have to send
their funds elsewhere to get returns.
The significance of this lies in the
fact that it is not peculiar to the To-
cality mentioned but applies to so
large a proportion of the producing
factors Of the national wealth. Its
value is recognized in the resump-
ton of work in MANY kinds of mills
and factories and the employment
of full quotas of workers.
Oils
Taking up those matters that more
intimately affect securities listed and
traded in on the New York Curb, ii
should be pointed out that the oil
industry as represented by the Stan
dard Oil Exporting companies, is go