The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1915-03-25
FACTORS OF CONFIDENCE.

u Signs of spring are appearing else
where than in the air and skies and
i on the surface of the earth. The sea-
son of, reyiving hopefulness is bring
ing with 1t omens OF other than Gus
fomary encouragement. Clouds OF
war, dark, thick and heavy, hang
above Europe, but the pail which they
have cast over the rest of the world
4 IS Tightening. Our own business and
finance are beginning to emerge from
the shadow of 1t and are stirring with
new life.
Very evidently the fearful conflict
abroad is no longer the reason that it
was for holding American trade and
industry in check, keeping volumes
contracted and values depressed. On
the contrary the war itself is supply
ing factors for return of confidence
which must be reflected in recovery
of prosperous activities.
Engagements of gold aggregating
81 100000 for importation from Otta-
va were announced during banking
hours yesterday. This made the total
Tor the first few days of the week
almost $11,000,000. and brought the
gold imports for the year up to not
Tar from $40,000,000. Actually our
bankers do not want gold to come in,
but they cannot keep it out. 1t is
coming faster now than it went away
last autumn and our international
financial position is gaining strength
with astonishing rapidity. The course
OF the foreign exchanges is prophetic
Il of still greater strength.
The official report of the countrys
foreign trade for February, which was
s published yesterday, corroborates the
story of the foreign exchanges. Elk
ports for the month were about $780,
100000 above the largest previous
February total. The balance of ex-
4 Forts over imports was almost STA
100000, or more than two times the
former February record, made in 1908.
When the fiscal year ends in June the
/ footing of the trade balance promises
to be a billion and quarter dollars,
or about twice any trade balance in
our history.
There is nothing in all this to cause
men of affairs to cast caution to the
wind and press recklessly forward
into the unknown and unknowable
future when the worlds greatest war
j is waging. There is, nevertheless,
warrant in it for expecting general
business to do better in the coming
months.
Already, indeed, the effects of the
direct advantage which the war has
brought to many lines are being com
municated to others. Apart from that
the seasonal influences of spring are
operating for improvement, and agri-
cultural prospects, which are indis-
pensabfe in any reckoning of the bust
ness outlook, are excellent. The larg-
est acreage of winter wheat ever
planted has come along we'll. and a
record breaking area of spring wheat
will come under cultivation.
Last, but not least, the more hopeful
signs of the times may be read in the
Wall Street stock market. There was
more business in stocks yesterday
than on any day since the Stock EX-
change re-opened last December
The market was broad in proportion
to its activity and prices rose impress
sively throughout the list. Specula-
ton, the commentators say. is doing
all this, but there is no speculation
when the spirit of enterprise is dead
and when there is nothing to look for
ward to in the field of values.-New
York Sun.