New Britain herald., 1915-02-09

any month in our history. Eminent
 authorities, both American and Euro
 pcan, have calculated that our cx-
 cess or exports over imports in 1915
 may easily reach one billion dollars.
 The balance for the opening month of
 the year is at the rate of more than
 one and half billion per annum.
 The years of greatest prosperity in
 the United States have been when the
 balances were largely in our favor.
 The exchanges of the world today
 stand in our favor. We arc the only
 nation at the present time in a posi-
 ton to assume the role of the worlds
 banker. We have already supplied up-
 ward of $100,OOO,0oO to other coun-
 tries, and our bankers have applica-
 tions, l understand, for several times
 that sum. We are furnishing Canada
 with capital: we have made d begln-
 ming in extending investment to South
 and Central America; branches of
 American banks are being opened ln
 leading Latin Ameri countries, and
 this movement is only in it's infancy.
 Dollars to Stay at Home.
 "A new banking and currency sys- tcm has been established, which will greatly facilitate the extension of our financial notifications abroad, as well as at home. American dollars will be spent in America this summer as never before, for few Americans will elect to seek their holiday pleasures in war-ridden Europe. Other items in our annual bill to Europe will be radically reduced, such as remittances by aliens, money sent from this coun- try to wealthy Americans who for merly lived most of the year abroad etc.
 'Dollar exchange is today nearer certainty than ever The outlook for raising New York to first place among the financial centers of the world Is declared by able bankers to he now something substantially moro tangible than dream. New York banking Institutions record a surplus reserve of no less than $144. .o0O,0 900. Money Is plentiful and low rates ob- tain. The Pennsylvania railroad of fered an issue of 49,0o0.00O of bonds, and subscriptions for it approximated $250, ,OO0, an incident full of in couragement to the railroad world The $29,000,0O0 of St. Paul bonds recent ly offered to stockholders are selling q, q premium. The cotton loan fund of S135, 100000 was provided by bankers; only a few thousand dollars was applied for. Cotton has recov- cred in price from 6 IA cents in Oc- tober to fully 1-2 cents a pound to- day, and exports are going forward at greatly increased rate. shipm ents to date exceeding 4,000,000 bales. or two thirds of the corresponding to- tai a year ago.
 The United States is today the chief granary of Europe. The prices eceivcd should insure for our farm Ing population an unprecedented mea sure of prosperity, and it has come to be an American axiom that when our farmers are prosperous the whole country prospers
 The steel trade is improving and the outlook is encouraging. The lumber industry is likewise. Large orders from belligerents and neutrals in Europe are keeping various lines of industry quite busy. Building shas been quiet, but investors are coming to realize that money can be saved by starting operations now, material being available as unusually attrac- tive prices. There Is evidence of in- creasing merchandise traffic on the of opportunity to earn more money, to establish credit and make expenditure for materials and equip ment, which means activity in man. lines dependent upon rail- roads for orders.
 The Interstate Commerce commits sion's decision in the eastern freight rate case has raised the dropping spirits of the railroads, as has been tangibly reflected by increased orders for material, and where the voters have been directly appealed to on anti-railroad legislative measures the verdict has been emphatically in favor of fair play for the companies, the common sense of the people tell 1 Ing them that any unnecessary crip- bling of the transportation companies means poorer service and ultimately | more expense to the public.
 Political Harassment Decricd
 There is less clamor for indis- 1 rrminate governmental suits against l and we may reasonably ] hope that honestly conducted enter 1 prises will hereafter be allowed to | carry on their legitimate functions 1 fear of political or legal 1 
 Business is today conducted l the United States on an |