Daily capital journal. (Salem, Oregon) 1903-1919, 1916-03-25
WALL STREET AGAIN
GROWS OPTIMISTIC
Believes War Is On TOttering
Legs and End VIII Come
This Summer

tiyity. This was due mainly to devel-
opments in our foreign relations which,
as usual, seem to control financial op-
erations. The situation in Mexico at
the moment is less serious than at one
time feared, and served to divert atten
tion from our German negotiations
which had been decidedly upon the pub
lie nerve. What the outcome of exist
ing confusion in Meico will be, is be-
yond prediction. A long and irritating
struggle may be imminent, and the prin-
cipal effect of recent developments
has been to powerfully stimulate the
preparedness movement; the country
being ridiculously mready to carry on
an important campaign even in Mexico,
should that become necessary. As an liz
lustratiOn of the division of market OPP
iniOn, some stocks especially munitions,
advanced on the theory that war with
Mexico was probablU and would be
beneficial to such. issues; while on the
other hand certain industrials and rail.
roads located within Mexico advanced
upon the theory that efforts now being
made to capture Villa would aid at least.
in a partial resumption of business in
Mexico, and thus lead to their benefit
News of the war from Europe also
created more favorable impression, in
that events of the last few days sug-
gested an earlier termination of the
war, A lull in our negotiations with
Germany, the strong defense at Verdnn
and the resignation of Admiral Won Tir-
pitt, who was probably responsible for
the extreme aggressiyeness Of subma-
rine warfare, also exerted favorable.
effect.
The European war is on tottering legs
and | anticipate that this summer will
close up hostilities, and that a start for
final settlement all around will be
made. None of the big nations. will get
away with any increased territory The
only change in that respect will be some
slicing up of the smaller nations, which
will make for a more permanent peace,
when it comes. This war will accomplish
one great result That is, it will show
that all the nations involved have put
up an amazing fight, and that the brav,
cry of all has been equally creditable
to their cOlOrs. None has shown
white feather anywhere. They have
shown beyond cayil that their soldiers
and people are made Of the same val.
liant material as are those of this coun-
try, as evidenced in our Civil war, both
North and South alike, which is our
proud record and that is convincing
proof that. there will never be another
such war. Neither will there be again,
between the great nations of Europe,
another such fight as at present, nor
should there be between other great ma
tiOns in other parts of the world, as
the devastating European war makes it
self-evident that there is nothing to9be
gained in the end from such huge strug
giles compensatory with the sacrifice Of
human life, destruction of property,
general suffering and dreadful misery
entailed thereby throughout the entire
world And all for what3 God only
bnowsl
Foreign trade continues active. Jan.
uary exports touchoi 1881 100000. or
$62,000000 beyond the same month last
year. Imports for January reached
$lS4 900, an increase of $4,000, ,000
Exports of manufactures more than
uuhblNh anu luNluNNu nNSt dlHUuulS VI
war materials. Munition shipments
have been going forward very freely
from New York upon old contracts, and
this movement even if it has reached its
zenith has by no means approached the
end. Immense quantities of war mater.
ial will continue going abroad probably
for months to come; one big contract
for over $90,000,000 of food products
being announced this week. The in.
crease of imports is particularly well
come, inasmuch as it tends to restore
more normal balance in our foreign
trade and to prevent another crisis in
sterling exchange. Enormous quantities
of munitions are going to England and
France, while Russia and ITALY are also
big buyers. Neither England nor France
are in a position TO pay for these pur.
chases in merchandise consequently the
governments of these nations are dis
couraging imports by promoting thrift
and economy in things unnecessary.
Securities are being returned in larger
sums than generally supposed. primar.
lily to aid in financing the war, but
these help liuuidate foreign indebted
ness to the United States.
Commodity prices continue soaring
upwards. Bradstreet Is index number on
March |. stood at Ii. .s760. n rise Of is
per cent within n wear. and 81 per cent
since the war begon. London & index
I