The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-09-12
CONFRONTED
WITH GRAVE PROBLEMS
|Ccndi,ct business Couscrvatively,"
Ortions National State and
City Bank.
REAr DEAL OF OPTIMISM
10 Occasion for Miserliness in Legiti-
Mase Expenditures, But Spending
should He Intelligent and Waste
Avoided.

| Ie v very natural that viewing con-
fttons from a broad standpoint there
bould be a great deal OF optimism
Boarding the business situation, says
pc september business letter Of the
afsonal State and City Bank. An
immense stream OF war orders con-
nues to pour in. crop prospects are
post brilliant and the United States
becoming more and more each
Aonth the dominating influence in the
rancial world. without attempting
minimize the importance of these
ornamental facts or to preach pessi-
tans. 1t Is. nevertheless, necessary to
paiixe that the country 10 confronted
It'll . number Of grave problems,
hich are by no means settled.
Our foreign relations may be en-
RELY upset at any moment, bringing
possibly to actual war. and the day
Ill come when war orders will cease
I'D many manufacturing enterprises
III have to meet very serious ques-
ons OF REIMBURSEMENT Therefore,
lille maintaining a Arm and un.
1aksn faith In the future Of the coun-
~, It Is we'll to conduct business and
Investment on Q conservative basis and
votd anything that tends to extrava-
Ancs and speculation.
National Economy.
Ons Of the results OF the war has
ben the bringing home to the people
the belligerent nations of the vast
Importance Of strict national economy
daily life, and there Is no reason
hy this country should not take thi.
sson to heart. The great increase in
ealth and general prosperity which
~ characterized the progress Of the
orid. particularly during the last
barter OF = century. has been accom-
Anied by q correspondingly rapid In
tsAss In expenditures. many OF which
Re certainly unwarranted.
The old foolish argument that ex-
tavagant expenditures are good for
tade never fails to be brought for
ard. but conditions during the past
ear have awakened thousands OF
eople to the fact that national ex-
avaEance has reached point where
should and .nuat be checked There
OF course, no occasion for miserii-
ess or for any one unduly to retrench
Rgitimate expenses, but the great need
for more intelligent spending and
pr avoiding rs much economic waste
possible.
The United States has for many
bars had the reputation OF being the
bendthrift among nations. and II is
me for US TO show the world that II
10 have been careless in the past we
Re able to correct this condition and
J exercise sensible thrift and economy
the future.
The War After Twelve Months.
More than a complete year has now
assed since the outbreak OF hostih-
Is In Europe. and the cost of the
bniiict In men and money has from
be start been OF such staggering pro-
ortfons that It Is not strange that
kany people have systematically kept
b predicting that peace must inevi-
kbly come soon. as every nation In
hrested in the struggle was becoming
opeteasiy BANKRUPT. both morally and
nancia1ly. AZ matter OF fact, the
hd Of the first year finds the various
htions involved more determined
han ever that the struggle must be
bntinued until complete and last
II victory has been won.
1 u year ago there were many who
here inclined to make light OF the
Minimum OF three years set upon the
nration Of the war by Earl Kitchener.
b present, however most students OF
he situation are hoping that II viii be
pssible to end the war In 80 short a
me as three years. for the tndica-
ons certainly are that outside OF
bme sudden collapse. which seems
},3te impossible on either side, the
ar will be fought to complete finish.
nd this, OF course. will not come until
be side has completely exhausted the
kher.
Exports Of Agricultural Implements.
Y~~~r e.