South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-04-10
IMMEDIATE PEACE
iIGNS NOT IN SIGHT
geW York FinanCier Finds En-
rOpean War Still Over
shadows All Else.
by Henry Cteus.

By Henry Clews.
NEW YORK. April 10 - While
ahere Is a growing desire for peace
and a slbcOnsciousness that 10 may
mot be far distant. surface indiea-
fions do not as set point that way
The. daily tragedy In Europe con-
finues with undimiuished intensity
yet In spite OF the German drive
against Ferdun no important gain
shas apparently been made on either
side for many weeks Great Brit dn's
government budget for the cor 'Tg
year shows both determinatiof d
resource. while the German cha.
cellor in addressing the reichE AZ has
u $50 made statements that encourage
shis people and discourage any hope
OF Immediate peace. and his in spite
.of the terms ne suggested on which
bGermany would consider peace pro-
Iposals our individual interest in
che war is multiplied many times
sover by the submarine problem.
tW HIGH though Quiescent curing the
9ast few days. tnay break out again
SET any time with renewed excite
ssnent Germany is evidently deter
ssnined not to surrender the most i'm
tportant weapon with which she can
I4nhict injury upon Great Britain: 50
fsVhat the outcome Eili be only time
hran determine The crisis between
Germany and the United States is
sstill unsolved and may break out
with fresh intensity at any time IN
1ess satisfactory assurances are re-
loeived by our government from Ger
lmanV. The Mexican difficulty Is not
les get in a serious stage. and for
sshe time being IN almost completely
tovershadowed by the European war.
y1Our presidential campaign also Occu-
pies The public mind much less than
usual or than anticipated. for the
same reasons. Considering the i'm
.DOrtant issues at stake, public opin-
sOn Is remarkably quiet and the
same may be said OF both branches
Of congress at Washington. Such
straint must be credited to the sober
ang influence OF war.
Foreign Trade SURPRISES.
-Oar--foreign trade is again sur
passing all records To an amazing
extent In February both imports
and exports far exceeded any previ-
Gus month. Exports touched $4O9.-
500. 900. OF $4,000. 600 more than
year ago and S5O,0OO,0O more
than during the previous high point
tn December last. For the 2 months
ending February our total exports
were SO. 100, 0CO, 600. or almost double
the amount during the same period
Of 1911 FIVE years ago. The March
total will show big results. judging
by the enormous shipments daily
from the port OF New York, which
IS making tremendous strides as the
country's chief export center There
has also been a gratifying increase
in the country's imports; the total
for February being S1J3. coo, or
S6S.SO0. 900 more than a year ago
and s11. OCG,O ahead of the previ-
GUS high record In January last.
During the 70 months ending March
81. our imports reached $1,000. 600,
goo. or $50. 100000 in advance Of
the previous record for a like period
in 1913. The effect Of war has Of
course been 10 discourage imports
and va"tly stimulate exports. thus
swelling our favorable trade balance
20 enormous proportions; the excess
for the IL months under review be-
ing $3.50. 600 600. compared with
$3.50 .0O0. 900 a year ago. This more
than trebiing Of our favorab Bile trade
balance within year is a factor OF
immense importance in the settle
ment OF our international balances
Of 4
imports. foreign loans and credits
the international trade balance is
still running vers heavily against
che allies and viii probably so con
tinue until the Tar ends. When that
event comes. sudden and perhaps
violent changes will develop. but
neither their direction nor their
duration can yet he foreseen.
Crop situation Important
From now on the crop situation
wsll become a subject OF Increased
Importance Spring is late and a
severe winter inflicted considerable
injury 10 winter wheat There will
he a material reduction in acreage,
and condition is mucn below that
OF a year ago As offsets 10 these
siderable increase in spring wheat
acreage and a large carryover from
the crop OF 1915. albeit of inferior
quality. So there viii 5e no real
scarcity OF wheat during the coming
season. no. any shortage for export.
Our home situation is satisfactory
The feverish activity observed dur
ing the greater part OF the winter
has somewhat subsidized Last week
hank cIeariugs were only about 30
per cent ahead OF last year. while
for months past the ratio OF Increase
has been I'm the neig hborhood OF so
per cent This decrease vas largely
due 20 diminished speculative actlv-
itv fn the ordinary channels OF
commerce and industry there are as
Vet no evidences or slowing down.
although there is marked develop
nent OF caution In making new ven
lures the fear Of overriding having
evidently restrained initiative. Rail
road earnings az the end OF March
were running about 20 per cent