The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-09-05
Richmond and Its Tributary
Territory Has Grounds for
General Optimism
CROPS ARE GOOD
AND MONEY AMPLE
Working OF Federal Reserve
System furnished General
Relief Richmond Bankers
Pleased With Prospects

That an era of Unprecedented pros
perity Is dawning for this country.
and especially for this section. IS the
opinion of local bankers and others
who, through correspondents In all
parts OF territory tributary to Rich
mond. are In close touch with the
situation The condition of crops
throughout the Southeastern States,
the increased industrial activity and
the knowledge OF the fact that money
has been placed at the disposal OF
growers of cotton for the financing
OF the crop have PUT The south-s peo-
pie in most optimistic mood With
the optimism is confidence, and be-
hind both are ample staple crops.
while prospects Of good prices have
created an influence which Is being
felt by interests in activities other
than agricultural.
The placing of cotton, one of the
south's great crops, on the allies
aband list will have little or no
depressing effect The cotton crop
this year Is smaller by some four to
fse million bales. The Federal re-
serve system is In operation II has
been demonstrated that the system is
efficient and successful in it's Tfrac-
teal application during the last ten
months TO problems that have been
presented. That there has been
placed, through the FedsraI reserve
system. at this disposal al the banks
Of the South for handing the -eotton
situation $40, 900. Of whicns VS.
100000 has already been deposited in
amounts of $4,000 GOO each in the
Federal reserve banks AT Richmond,
Atlanta and Dallas has so steadied
u al 49,
the embargo placed upon the staple
by foreign governments has been dis
counted.
Producer No, Worrying.
The cotton producer is not worry
ing, In many sections of the South
ne benefited by the situation OF a
year ago and curtaiIe- his acreage In
cotton. Other crops have been grown
where cotton was produced in other
years. The grain crops In the South
are larger than in years The tobacco
crops in Virginia and the carolinas
Is larger, and indications at this time
are that better prices than q wear ago
will prevail. The prices on the open
Ing Of the tobacco market in various
sections have been very satisfactory
and growers of the leaf. like those OF
other crops look forward to q most
prosperous fail and winter-a fall and
winter that Will see them paying their
back debts and putting away funds
for future use.
War Clouds Pass.
One development during the week
which has gone far toward steadying
the situation generally in the minds
of students Of economies is the clear
Ing away of the clouds which threat
ened 10 involve this country in the
International ENHANCEMENT so disas-
trous TO Europe, The war situation,
as IL stands and as ii Is likely to
stand. In the opinion of those who
have closely watched developments.
is not threatening ana unless comph-
cations arise from another source. will
not again disturb American business,
That this country wiil continue TO
receive benefits accruing through bet
ter business as time goes on. whether
war In Europe continues or peace
comes, Is the opinion held by thought
full business men of Richmond The
outlook at this time, 1t is declared. Is
brighter than in many years, DANCE,
of financial disturbance of any seri.
GUS nature has been put into the past
through the practical operation of the
Federal reserve act. and IAN unusual
prosperity is coming to us"