The Washington times., 1916-01-02

ic position OF this country; and, Sec
ondly, the probable effect of these in
shaping the future.
'"rhe great increase in agricultural
output is In part attributable to the war
but the fruits OF farming cannot be re-
Rarded as dependent upon the continu-
ance OF the war. They represent actual
now wealth, and this Is not to be des-
troyed by what may happen hereafter.
This has given stimulus to present pro-
duction and has added -measurably to
the permanent well-being Of the commu-
nifty. The gold which has been brought
into the country, because Europe could
not flnd other sufficient means OF paying
for what she bought. may quickly be
reclaimed when Europe again puts a
higher price on gold than she puts now
on shells and CARTRIDGES. but the goods
which we have taken in return for the
goods we have sold will not be taken
back from US.
"The railroads control of which we
have reDurohased from EuroDe the
rope and now. in effect. wholly owned
here; the banking credits which we have
liduidated and replaced by credits to
other markets.: the increase in our mer-
chant marine. and not by any means
least, the experience which we have
gained in the ways Of international trade
and finance. will not be lost to us by the
ending Of the war. All these things will
remain In our possession and will con-
tinue to yield profits. adding much to
the nations income. and. therefore. to
its power to consume those goods which
promote health. comfort, and enjoyment.
and which are the measure OF coun-
try's prosperity
Outlook Optimistic.
Tho NetU York World takes an equal
ly optimistic view OF the future and
calls attention in the following article
TO tho rapldity with which recovery
from the state OF depression that en-
sued immediately after the outbreak Of
war was made:
THE dawn of n new year has never
disclosed more cheerful augurics than
those which appear on the horizon of
1916 as the curtains are drawn over TIE
epochal twelve-month that has passed
into history. On every hand the
wheels of industry and enterprise are
moving at constantly accelerated
pace under the Vitallzing influence OF
of our banks are overflOwtrz with
surplus cash. so that nc legitimate
demand FOR credit need 20 unheeded; /;
our farms have produced the most
whole world * seeking the output of
our mines, which despite their unpre-
cedente1 production, are unable to
supply tho expanding need for raw and
of all the great powers have been
voCchsafed the blessings of peace and
political tranquility.
THE remarkable sitCation that exists
on the threshold Of 1916 presents a
striking contrast to that with which
the financial and business world found
itself confronted at the portal Of the
cventful year whose narrative invites
review. The final quarter of 1914 had,
IL Is true witnessed remarkable re-
covery In this country from tho de-
preston into which we, In coL1mon
with the rest OF the world, bad been
plunged, by the great European cnn-
hict. A solution, II Is true, had already
been found for many OF the unnrecn-
dentel problems tC. which this period
of chaos had given birth. and these
remaining were to Le speedily worked
out by our resOuTcetul financiers and
business neII. aided hy circumstances
most fortuitous. Yet business wqs in
a state Of complete rrostratior. and
there werc few fEanGial prophets who
foresaw the remarkable industrial and
commercial metamorphosis that lay
only a few months aheaC."