The Punta Gorda herald. [volume] (Punta Gorda, Fla.) 1893-1958, 1915-02-18
CABINET OFFICIAL
SPEAKS OF GENERAL
BUSINESS REVIVAL.
A Balance of Trade That is IN
Our Favor
A COINCIDENCE MENTIONED
The World Turns To Us To-Day
For Goods, For Food and For
Raw Materials Consequences
Of War in Europe.

Washington, d. C.-(Spe-
cial) From every quarter comes
reports of renewed business activ-
ity. In many lines business is
booming as never before. The
present situation is depicted in a
speech delivered a few days ago
by secretary of Commerce Red
field, who said in part:
"How great the contrast be-
tween the financial facts of Au-
gust and those of January 1. Then
the currents of exchange ceased to
flow, and for a time ceased also
the movement of our great trade.
Now one finds exchange plenty
and cheap, and few have witness
ed such an outward rush of mer-
chandise as to-day taxes our ports
and overwhelms our shipping fa-
cilities. The progress has been
steady. The temporary adverse
trade balance of the summer was
changed to a favorable balance on
merchandise transactions in Sep
tember of $16, 100000. This was
multiplied by three in October,
and to the total so per cent was
added in November and almost
another so per cent. in December
when the favorable balance was
$110,000,0O0.
"Our floating debt to Europe,
which it was once felt might have
to be paid fully in gold has in
stead been paid in goods and more
than paid. SO that there seems
to have begun an inward flow of
gold responding to the reduction
in the price of exchange.
"It must be remembered, too,
that most of this has been done
without the presence in our ex-.
ports of that which has at this
season usually been largest Of all,
namely, cotton. This has now be-
gun to move and at rising prices,
justifying the hope that since our
current debts abroad are paid we
may accumulate further credit
balances. Surely this is a strong
financial position, a sound basis
for courage.
"Coincident with this nature be-
came generous to us. There are
two places at least in America
where no one dares to talk pessim-
ism. One is on the wharves in
our ports and the other is on our
farms. The men who have been
raising wheat know nothing of
distress and the steamship, whose
crowded hold l entered the other
day, gave no sign of disaster. L
am told that not only have we
bumper crops of cotton and wheat,
but that we have a surplus also of
over forty million barrels of ap-
pies above last year, which, if
facilitates can be found to ship
them, will be eargerly taken a.
broad. 1t is not long, however,
since sixty carloads Of them lay in
this port unable to find transit
abroad.
All Turn To America
"The world turns to us to-day
for goods, for food, for raw ma
terials. We draw from all the
nations orders for that we have to
Sell just as we are selling to all
the belligerants.
81 do not mean by this to imply
that the consequences of war can
be fruitful only of good to any
one. We have had our share of
Wars ills, as those who have car
ried the country through the re-
cent months know, and it still
impends as a cloud upon us all.
1t has, however, had as an Incl
dental effect the necessary result
that when two out of the three
greatest nations doing internation-
al trade are busy in destructive
tasks. We must for the time at
least become in part the benefici-
airy of that which they have laid
aside"