South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-08-23
Financial Experts
Say Prosperity Is
Not Temporary

the prosperity obtaining under the
Wilson administration is only tenn
porary.
Confirmation OF this uneXampled
prosperity throughout the country is
found in the financial pages of every
representative newspaper each day
A vast majority of the financial
writer's for these newspapers, Ie-
gardless Of parties or politics. I'M
hesitatingly predict that the pros
perity the country is enjoying has
come to stay.
Not a cloud is in the sky as far
as domestic business is concerned"
SAYS an editorial writer in the New
York Commercial OF July 2Sth.
The crops promise well and one of
the largest and best crops of winter
wheat ever known has been reached.
Railroad traffic and earnings are
breaking all previous records for
this season of the year Bank cl0ar-
ings tell the same story of prosper
ity. The west is optimistic, but all
street is a doubling Thomas"
1t should be remembered in this
connection that Wall street infiu-
ences are behind Candidate Hughes
and probably he has caught the in
lection Of misgivings.
Trade Depends on Confidence.
The latest prophet of evil" con-
tinues this writer in the New York
Commercial, says that the United
States will suffer in the commercial
war that Will follow a declaration OF
peace. Nobody can foretell with
certainty what will happen. but the
nearest thing to absolute certainty
IS that the fate OF our trade and in
dustries depends on our confidence
in the future. If American business
men shy at shadows and neglect to
take advantage of opportunities and
readjust themselves 10 change the
condition. our present rate of pre-
gress will be checked"
why should we fear a common
cial war in Europe? The United
States will be stronger, perhaps, than
all Europe put tagether at the end
OF this war. our markets Will be
the best and most desirable in all
the world. a quarrel with US would
lnfiict heavy losses on the other side.
In the first place. we nave the gold
upon which credits are based. our
financial position is growing strong
er, as Europes eXhauts itself in this
struggle"
In the second place, our indus
tries are better organized for the
production of peace products than
those of the 5elligerant powers and
our natural resources are practically
limitless. our labor and capital
have not been wasted on the battle
fields"
In the third place, should a COM
mercial war take the form of eXer-
cising monoplies of raw materials,
the United States would be stronger
than the rest"
This writer proceeds TO show that
the United states has greater mo-
nopoly in the production of cotton
and food products than any other
country in the world and therefore
concludes that If peace is better
than war, we shall welcome every
sign OF its approach"
A financial authority writing in
the financial columns of the New
York American under date of July
, 4th has this 10 say:
"Pres't Wilson's plan 10 put Mex
leo under bonds TO keep the peace,
purchase of munitions for March,
1917, by the allies, willingness of the
banks to accept any kind of collater-
al that has market quotations and
that personal activities of directors
of corporations, in the stock market
indicate that the optimistic tone of
the stock market means the begin
ming of an important new construct
i've campaign
New Business Totals Millions.
Meanwhile. out trade with Central
and south America is showing such
vast increase that our prosperity
in the future is further guaranteed.
John II. Fahey, former president Of
the Chamber of Commerce of the
United States, writing for the New
York Tribune, July 9Th. said:
For the fiscal year ending June
| so. 1916, the records will show that
we have picked up the tidy sum of
! S135, O0O. goo o. new business in Cen
! trail and south America over any
thing We have ever had"
Continuing, Mr.. Fahey said: will
we have TO face a food of European
merchandise and cut prices after
the war? The South Americans do
not think so. They are successful in
international trade and they have
had long experience in it. While
there may be temporary influx of
European goods TO that country.
| they believe the rehabilitation of
Europe will take a much longer
time than is expected, and they
argue that the increased burdens
of taxation of the readjustment of
European industry will prove ser
/ ious handicaps."
/ Sec'y William @. McAdOo, on July
I17. in statement said: The fiscal
year closed on June 80. 1916, with
the treasury in a very strong and
gratifying condition, rejecting the
great and unprecedented prosperity
OF the country. subject 10 revision
upon analysis of complete return
I the reports show that the balance
/ in the general funds at the close OF
business was $236,S79.5 5000. includ-
/ ing amounts 10 the credit of dis