The Bridgeport evening farmer., 1917-04-16
HENRY CLEWS
 WEEKLY LETTER

WEEKLY, LETTER
 Extraordinary events demand ex- traordinary measures, and the act oi Congress authorizing issues or $o,- OOO. O0O. 900 bonds and $2,O0O, ,ooo.ooo ,rrea sury notes to start with IS a hls- -oric event of supreme slgnlIlcsnce. Such an amazing demonstratlon ol financial power on the part or tie United States was never eNpec'eo and will have far reaching eIIects: Undoubtedly it will hasten the emu oi he war by both moral ana pracucai results. It is a blunt ana eIIec.ive notice of our intention and our aoil- ity to earnestly aid in pusnihs 'ne var to a successful conclusion. OI the $5,000,000,0O0 United states oH ,er cent bonds, $3,000,00O,OOO are m tended for the Allies. Tnls oachans ,e or leaning of our credit on 1s ,er cent. basis, will immensely strenethen the Allies, whose bonds nave already undergone a marked advance in consequence. Much oI his amount will doubtless be spent Ar +l,is side for munitions, the resule of which will be continued actlvlty Isn those industries. The fact also hat the bonds will be held Tn tnls country will avert the strain upon eoreien exchange that would follow if payments were made from abroad and will render it much easier to control exchange in the future. safes If foreign holdings of Americans Will also be correspondingly discouraged. The dates of issue much be left 10 discretion of the government, Whlcn pest knows its own requirements anu which will undoubtedly take all fac- +ors of public interest into full con- sideration. The bond issue will be an unouestioned success. It will be so for patriotic reasons, also for busl- ness reasons, and especially because of their freedom from taxation which will popu1arize them among financial institutions and holders of large for- tunes. A good return, h. per cent, is offered for bond of the very highest grade. American credit IS now above that of any other nation in the world; for thus far we nave escaped the strain of war and that which we now undertake will De easily borne, while the debt per capl- ta of this country is 1nfiniteslmal compared Svith that of European na- tions, our resources being greater than any, When this war is finished the United States will enjoy an in calculable advantage in itss freedom from the crushing load of public debt that the nations of Europe must struggle under for generations to come.
 Our food problem is already excit-. ing serious attention. In reality there Is no cause for public alarm for there is undoubtedly enough food in the United States to go around, with good surplus remaining for export to help feed the millions of hungry and half starving people of Europe. But there Is need for cau- ton, since in a few lines there is positive scarcity, and two ways of re- lief are within our grasp, viz: econ omy in the home, and larger product on the farm. Much food is wasted, particularly in hotels, restaurants and clubs, and as yet we have more to learn regarding the science of uti- lization of all waste. As for larger { product, that is attainable through mores scientific and intensive culti- vation, plus the largest possible acre age. Probably the farmer will suffer somewhat by the withdrawals of men into the army, but the seriousness of this may be exaggerated, for the bulk of, the recruits will be taken from cities, the counting room and the factory having provided a large share of Europe's vast armies. Then, much can be accomplished by a wid- CT use of modern agricultural ma- chinery; the gasoline tractor for in- stance, which supersedes the horse and promises to revolutionize exist ing methods of cultivation. There is, therefore, no reason whatever for public alarm about tho food outlook. Last. years short wheat crop and the locking up of vast supplies in Rus sia have been the main factors in present high prices of wheat, and our farmers should plant every available acre to make good all deficiencies, especially the threatened shortage in our winter wheat crop. which usual , ly forms about two-thirds of the to- tai. There has been some talk of | government regulation fo food sup ply, for which it is hoped there will De no necessity. Much depends upon
 
 food products should be discouraged, and consumers should not fall into panic and undu1y or selfish1y stock up in advance of requirements. There is an admitted shortage of some ar ticles yet the food situation in this country is nothing like so critical as abroad, and nasty action is unneces- ,, sary in view of the fact that new crops are already in sight. Our gov- ernment is already considering vari- ous plans of food control, and in case ment intervention must be anticipa- ted. Over-speculation would simply hasten such measures and insure their greater severity.
 Stock market conditions are still governed entirely by war. In addi- tion to the agricultural outlook re- sulting from the food problem, also the financial outlook connected with the bond issue, there is the invest ment outlook as affected by taxation problems At this writing the new taxes have ont been announced, and many of the proposals thus far pre- sented have without doubt been for the purpose of invoking discussion. This country can raise huge funds for carrying on it's part of the war without the slightest difficulty. There | IS no reason, therefore, why the amount should not be withdrawn gradually. Posterity will chiefly benefit from the struggle for free dom and Sh Ou1d nav it's port Noxxx