Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1915-06-04
GIVE CREDIT WHERE
CREDIT BELONGS

CkEOIl bEIONOS
In this weeks issue of the Courier
there is much gleeful chirp and clatter
regarding the hopeful conditions OF
business. To certain extent the
outlook is brighter, but the country
and the Courier should labor under no
rlisepprehension as to the cause. The
war in Europe has built about the
United States protective wall that
the Democrats took away in their
tariff bill. The Wilson-Underwood
law opened wide our doors to foreign
products; the European conflict pre-
vents the foreign producer from TAX
ing advantage of the opportunity thus
given. That is the real reason for
the present business squirt, plus the
war orders which this country is re-
ceiying. The Courier lays especial
emphasis on the price Of wool. They
tell of mythical farmer who walks
into the Courier Office and with happy
smile explains that he has sold his
wool crop for from 2s to 2S cents a
pound. He adds that under Republi-
can administrations, II cents was the
usual price. The condition, OF the
wool markets in this country is truly
in a glorious condition. The local
mills. of which the Courier boasts, are
running much below capacity and are
) closed altogether day or two week
The local paper mills are running sia
days a week now, hut a conversation
with the officials Of the company VII
coon bring forth the ejaculation tha'
heaven had better help the Pacific
coast paper industry when the wal
. ends and the mills of northern Eu
rope are brought into competition
The proper comparison OF presen
. business conditions is not with th'
I immediate past, but with those condi
tions which existed before the Demo
Gratis came into power. For this pur
nose. the two years Of 1912 and 1911
! afford an excellent barometer. as the!
are the last years Of the Republican
Z management of the nation and th'
! first full year of Democratic control
Business failures in 1912 were l4,0o'
IN number. with tota, liabilities OF les
than 5000 100000; failures in 1914
! 17,Ooo, with liabilities Of pearl'
. s40o, 100000. The year 1914 was on
I Of the most disappointing ever eS
perienced by promoters OF new enter
prises. Incorporators Of new busihes
, fell off nearly one-half from the figure
of 1912, and the issue Of new securitie
decreased in like ratio. Figures rt
ceiyed from variety Of industrie
throughout the coputry indicate tina
about three million employees In Tn
manufacturing and mechanical indus
tries of the United States were out
work in 1914 who were engaged
profitable employment on July l. lsl
, II this same percentage were apple
TO other employmepts outside OF agr
culture, the number Of unemploye
agriculture excluded. would amount
over six millions. as compared VII
the figures of 1912. The railroad T
( ceipts and prosperity always mirr'
J the business activity of the countr
! Railway construction in 1914 was u
4 smallest in more than twenty yeaI
y with the single exception OF 1895, al
! was only one-half OF that OF III
4 During 1914, twenty-five railroa
4 went into the hands Of receivers
: against thirteen In 1912. In 10
< railroads were sold under foreclosu
I with a mileage Of $500 miles a
y bonds and stocks amounting to u
Z 100000. In 1912. the railroads 81
4 under foreclosure represented
miles and s26,O0o,oOO in bonds
Z stocks. In the light Of such facts
~ figures, the members Of the Wilson
. ministration and the great mouthpi
= of Democracy, the Courier, would
Z we'll to refrain from making claim
Z any credit for the present outdoor