Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1914-10-19
Let's Revive Industry.

Without agreeing to all its propo-
sitions. we would hasten to endorse
the National Implement and Vehicle
Associations" apparent desire to re-
vive a general commercial and indus
trial activity. The quicker this can
concerned. This association is COM
posed of manufacturers and jobbers
Of agricultural implements and other
farm operating equipment. 1t says:
For some months before the Euro
pean war general business conditions
in this country were in an unsatis-
factory condition. Tariff changes, the
new currency law. railroad rate de-
cisions, proposed national legislation
affecting business, etc., all tended to
make American business men hesitate.
The unfortunate result was, mines,
mills and factories either wholly
closed or run on part time. and an
ever increasing army of the unem-
ployed.
On top of this unfortunate condition
came the European war. In this
country one of the effects of that
was partial financial suffocation. The
situation seemed to require prompt
and efficient action and the bankers
of the country administered it prompt
ly.
What Is needed now to restore con-
fdence and to put the unemployed
back on the pay roll?
We believe the American bankers
hold the key.
He Is the business advisor of COM
merce and in the rural community en-
joys and justly so a position of special
responsibility, trust and power, which
we fully appreciate.
The responsibility imposed on the
American farmer by the war is ire
mendous for this country will be
called on as never before to help feed
the nations of Europe. To set the
wheels Of industry and commerce in
motion, credit, confidence and cour-
age are needed and as we believe the
banker can lead the way to re-
sumption of industry we respectfully
recommend for his careful considera-
ton the following:
Q) Urge the farmer who has harvest
ed his grain, not to speculate on the
fuetuation of future prices: 49,.
(2) Recommend to the farmer OF the
South to diversity his crops. Experience
has shown that one crop country can
not continue to bring, prosperity TO us
Dakotas are diversifying. Our cotton
states should do likewise.
go Preach preparedness for the 1915
harvest. Care In seed selection. proper
tillage and cultivation will bring IN
creased crops to meet the increased de-
mands. More intensive cultivation quite
as much as increased acreage will bring
prosperity to the farmers.
ing stock and thereby secure a natural
fertilizer for the soil. Cattle. hogs. and
poultry mean ready money and bank
accounts.
(5) Secure for the agricultural COM
munity the benefits provided In the new
currency law by creating demand for
the early opening of the various Federal
90 Discourage all speculation. but en-
courage the expansion Of legitimate busi-
ness in the rural communities by rea-
sonable extension OF credit
The agricultural communities and
the bankers who serve them were
never in a more secure position or
one that promised more II the OPP
portunities are embraced.
We hear on all sides that the Eu-
ropean war has left the door wide
open for this country to enter and Sc
cure the markets Of the world. This
cannot be done in a day or in year.
Let us first bring this countrys in
dustries back to their normal condi-
ton. This must be done before an in
creased foreign trade can be Sc
cured.
An opportunity is here presented
for the American banker and we be-
lieve that he will rise to 1t.