The Washington times., 1916-01-02

ic position OF this country; and, Sec
ondly, the probable effect of these in
shaping the future.
"The great increase In agricultural
| output Is in part attributable to the war,
but the fruits of farming cannot be re-
garded as dependent upon the continu-
ance of the war. They represent actual
new wealth, and this Is not to be des-
troyed by what NAV 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 find 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
goods we have sold will not be taken
back from us.
THE railroads control of which we
have repurohased from Europe: the
plants which were partly owned i'm Eu-
rope and now. in effect. wholly owned
here: the banking credits which we have
liuuidated 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-
tlnue to yield profits. adding much to
the nations income. and. therefore. to
its power to consume those goods which
promote health. comfort. and endowment.
ana which are the measure of a coun-
trys prosperity"
Outlook Optimistic.
The NeW York World takes an equal
ly optimistic view OF the future and
calls attention in the following article
to the rapidity with which recovery y
from the state OF deprc ssIon that en-
sued immediately after the outbreak of
war was made:
The dawn of new year has never
disclosed more cheerful augurcs than
those which appear on the horizon of
l'lo as the curtains are drawn over TIE
into history. On every hand the
wheels OF industry and enterprise are
moving at constantly accelerate
pace under the VitalZing influence of
trades Guickcning pulse; the vaults
surplus cash. 50 that nc legitimate
demand for credit need 60 unheeded ;
our farms have produced II" most
abundant crops in their histo'y the
whole world II seeking the output os
our mines, which despite their unpre-
cedente1 production. are unable to
supply tho expanding need for raw and
fabricated material. and to rs alone
OF all the great powers have been
vocchsn fed the blessings of peace and
political Tranquility.
THE remarkable sitration 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 tie
cNentful year whose narrative invites
review. The final quarter of 1911 had.
IL Is true witnessed p remarkable re-
covery In this country from the de-
pre- ssion into which we, in corlmon
with the rest OF the world, had been
plunged. by tho great European con-
fict. A solution. it Is true. had already
been found for manv OF the unpreCe-
dentel problems tc. which this period
of chaos had giver birth. and tho So
remaining were to lie speedily worked
out by our resourcetul fnanciers and
business men. aIdrG hv circumstances
most fortuitous. Yet business was In
a state of complete rrostratior. AID
there wer" few financial prohnets who
forcsaw the remarkable industrial and
commercial metamorphoss that lay
only q few mCnths aheaC.'