The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1915-03-08
Adjournment Of Congress Looked Up
on az a Relief by CONNER
ciaI Interests Of the
Country.
THE WAR MAY BE SHORT
These Two Features Are Expected to
Give an Improvement to
Business condI-
tlons.

NEW YORK, March 6.-The drift of
affairs this week has been more en-
couragi1g. Congress adjourned, much
to the relief of business men with
large responsibilities; and the war,
while lacking In decisive events.
promises to be Of shorter duration
than sometimes feared.
Home business conditions are GER
tainly becoming more satisfactory.
There Is no doubt that domestic trade
conditions are generally sound. The
volume Of business, it Is true, Is very
moderate. This is partially due to
lack Of confidence and universal con-
seryatism. The number OF unenploy-
ed Is large; railroad earnings and
bank clearings confirm trade inactiv-
ity, and the spirit OF economy has al
most everywhere suppla1ted the spirit
|of extravaganza. Without the war we
should have probably had to face
some reaction, and the wonder is
that depression has not been worse.
Throughout our agricultural regions,
there is little cause for complaint;
the situation in the grain districts
being generally satisfactory owing to
the large foreign demand aid good
prices for all food products. The cot
ton belt Is an exception, inasmuch as
it feels the reduction of foreign de-
mand as well as the lower prices
which growers are forced to accept
What the next season will bring to
the south is an interesting problem,
since it is certain that less cotton will
be grown and more grain. Canada
too, is making strenuous efforts to
increase her wheat crop; SO that the
ntaxt harvest will plainly reflect war
influences. Europe will be obliged to
grow less on her farms during the
coming season, AID it will remain for
other portions Of the world, especially
North America, to make good the de-
ficiencies. One of the most satisfac-
tory symptoms OF recovery is the
slow but sure increase of activity In
the iron trade. Orders are coming
in more freely for many steel pro-
dncts. and the proportion OF unem-
ployed plants is steadily decreasing.
Better prices are also occasionally OBJ.
taiaed; although this industry still
has much room for Improvement be-
fore normal conditions are attained.
There is, moreover, better feeling
and some lessening of depression In
the cotton and wooden industries,
which for months have been much
embarrassed by dull business and
serious uncertainties in the cotton
and wool markets arising from the
war. The distributing branches of
trade are generally in sound condi-
ton, and though the volume of busi-
ness continues below normal, job5ers
are usually carrying small supplies
and their credit position is sound.
With the advent of spring, some I'M
provement is inevitable. Construction
work will begin and transportation
will resume seasonal activity.
Our foreign trade is still much de-
ranged, and imports show persistent
decline which will temporarily impair
the national revenue from customs
and may nacessitate some new gov
eminent financing later on. Exports
are we'll maintained in spite Of re-
strictive conditions and the latest re-
turns show a continued liberal excess
of exports. This large balance is, of
course, being reduced by the unseen
items in the foreign trade account,
but exchange has been lowering
around the gold importing point and
further sums Of the precious metal
may come this way at any time; con-
siderable amounts having arrived this
week. The influx OF GOLD is being dis
couraged, however, partly by the re-
turn of securities from abroad, and
partly owing to disposition among
bankers on both sides to allow gold
to remain where it is most needed,
which of course is on the other side.
There is evidently a friendly under
standing between the bankers in New
York and London, and If necessary
London will be able to obtain liberal
credits in this market, which will de-
fer or restrain unnecessary gol6, i'm
ports. The grain movement has near
" reached its climax; and when the
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