The Bridgeport evening farmer., 1917-08-13
HENRY CLEWS
 WEEKLY LETTER

IneS6 are LIlc AicAiAF business situation' IA highly profitable harvest for graih' cotton fruits and vegetaples.
 A sound financial situation.
 Ixeat industrial activity arising 1roiil war expenditures of $1O,Ooo,ooo'ooV oi more ,o,, | Steady growth of government con, trol over industrial. movements aip" prices. If -,z1ea+ Aa;de from a poor spring Wneat crop. the government crop report wa highly encouraging. The montn o. Uuiy showed great improvement !" nearly all crops. The most sauis.a a1.o,, aorv factor was an expected corn crop Of 3.1l 900. 900 bushels, cdmpared Wi.n tha previous bumper crop Of s'lzA' 0oo ooo bushels. The significance or this great crop will be appreaateo py a cornparison of prices. At presen. corn in Chicago Is selling aC aoou' s225 a bushel, this abnormal prlce po inx due to special causes. -A year aso the price was about 45 cents. oepee
 her corn. however, which more neary represents a fair price, is selling anoVe s1.65 in Western markets, winch ~ is double the pri9s i9s2Ia1ass 9f 8 asas tSe ago neigh present price of wheat IS m the ne-sn borhood of $40 in Western markets compared with about $1.45 last year. Other grains are also selling at very high prices, though the increase IS not 80 great as in the case Of wheat anu corn. A Obis potato crop is assured. A good cotton crop is also propaDls present indications pointing to a yleio of d1 300 .O00 bales, which compares with a1 100000 sbales. jnc 1916 and a hve yearfnU eraSs1af rlsaa2a0, ,90s bales Cot tonis selling ~at about R7 SceHfs, com pared with IA 1-2 cents year ago. IL is quite evident that our agr1culturai classes are about to enjoy season of undreamed of prosperity, for In spite of the increased costs of pro- duction the margin of profit to, the farmer has increased enormously, ana he needs no coddling. The same IS also true .in many lines of industry. Iron, copper, lead and tin are all sell | ing at prices affording extraord1nary profits to the producer, and notW1tn- ] Standing higher costs of production | and advances in wages our mineral l industries, with possibly the exception [ of coal, are also enjoying unexpected ] prosperity. It is a very striking Iact J that such producers of raw materials , as farmers and miners are today en- i toying larger profits than any other class. The manufacturing classes and ] distributors of these products are also :, enjoying great prosperity, which, how | ever has been materially modified by increased costs of doing business and by concessions to labor. Right here a new factor has been infected which causes great uncertainty and some iunsett1ement; that is, the ever extend ing control of government over in dustry and prices. The Food Bill passed August 8, is vastly more fal reaching than is commonly supposed It. is not mandatory, yet bestows upor the President of the United States power to regulate Industry on a scale q and with a completeness never before exercised in any country of the world Mr. Wilson may when he chooses completely regulate nearly all of th' great industries of the United States Our Railroads are already under prac tical1y government regulation, ant shipping is gradually approaching thu same control. sThe government ha recently laid it's hand upon the expor trade, and it is now proposed to sim ilarly regulate the import traffic o the country. Along with these meas prices.- Truly, war is a one-nnan bus iness. These vast powers could b used for veal or woe, but MT. Wilso has the confidence of the people. an scan be relied upon to act wisely Everything depends upon the direc 1 ton and degree to which they are az Aplied. If drastically used, much los Nand confusion will be inevitable. used with care and prudence, the may accomplish great good. They ca only be justified as war measures, fo trade and industry will ever prospe more under self lf-development and reg --I- I ination. These new methods have, ( course, introduced great changes int
 business. ,lNew that the Food Regul;
 tion Rilt ha4 been passed and the d.
 tails of the Revenue Measure are SC
 tied, business can be freed of mar
 uncertainties and will be better alb
 to undertake obligations entering in the future. With these two all in
 portant measures practically settle
 much of the doubt which paralyzt
 business for the past three montl
 will disappear and the way will opened to renewed activity Agricu
 tura3s asrosperity will undoubted
 greatly stimulate business at. the i
 terior, while the huge expenditur
 rendered necessary y bwar will stir
 ulate business in Eastern sections
 good cotton crop at high prices mu
 similarly affect the South. Thus, f
 all sections of the country, ain acti
 business is to be reasonably expect
 for the coming fall and winter.
 course, much unrest may develop he
 and there, owing to unavoidable q
 rangements caused by the war, also
 disaffection in industries and class
 unfavoraibly affected by the sar
 cause.
 Our banking situation is exceptio
 ally satisfactory, considering the vs
 strain imposed upon our resources
 the war. The Iiberty Loan was sl
 cessfully f1oated with scarcely a r pie. It was the biggest financial traI
 action in our history, and yet ma
 comparatively small impression up
 either loans or discounts. Another
 stalment will probably be issued wit
 in a couple of months. Terms are
 ready being discussed, and optimis
 opinions as to it's success are univ
 sal. There is an abundance of nor
 to invest. and the probabilities {
 that the second loan will be even ma
 lfberally subscribed for than the f11
 Many buyers who were too tinid
 avail themselves of the first offer v act upon the second Savings bar
 have adapted themselves to the char
 ed situation, and will be more req
 to cooperate on the second loan th
 at the time of the first offering, WI
 fhara mu 4a,cf