The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-08-12
VARIED PHASES Of
NATIONS BUSINESS
ments of Doubt and Uncertainty"
Says the New York Times.

There Still Remains the Same Eie-
ments of Doubt and Uncertainty"
Says the New York Times.
AT first blush it seems absurd to
say that SO commonplace thing as
the weather should have taken first
place in the influences affecting bust
ness, but 1t certainly was the case
during the last week. This applied
both as regards production and sale.
Factories of different kinds found 1t
necessary or advisable to shut down
on account of the high temperatures
that prevailed over the greater por-
ton OF the country. Buyers post
poned their trips to this city and
! other selling centers, and merchand-
Using In the shops was seriously cur
tailed because of the Inconvenience
attending it. So far as the primary
markets were concerned the slack
was rather welcome than otherwise.
The mills have enough orders on
hand to keep busy such help as they
have available. and are not over
! eager to enter into any more con-
tracts for late delivery. The more
notable OF the new things on during
the week were contracts for certain
textiles required by the government
and 100000 order for shoes
from the Russian authorities. So far
as agriculture IL concerned, the hot
weather was a decided benefit. II
will prove an amazing quickener Of
the corn crop, which still looks Ike
a record breaker. az we'll as of adj
vantage to other cereals with all
that this implies,
Some Elements OF Uncertainty.
SO far as enterprise and future
commitments are dependent on ma
t.pnal legislation. there still remain
the same elements OF doubt and un-
certainty which have been impend-
ing for long period. The food. feed,
and fuel control measures have been
whipped into the shape in which
they will probably be enacted into
law. But the same cannot be said OF
the war revenue propositions. Yet
these latter must needs have a very
important influence on the future
conduct Of business. 1t has not even
Vet been determined what proportion
Of the war expenditures is TO be Sc
cured from taxes and what from bond
issues. Further away still is the de-
cision as TO the excess profits tax.
Concerning the latter II would seem
as though the business interests in
general have ceased to oppose the
measure in the abstract. They are
conceding its justice and its value as
a revenue producer In wartime But
they oppose certain features which
: are put forward. Objection is made,
for instance, TO the proposed Is per
: cent, tax on net corporate. incomes
remaining undistrihuted sixty DAYS
after til. end OF each calendar or
fiscal year and to the tax on stock
J dividends The directors Of the Ma
tional Association OF Manufacturers
favor an per cent. net income as
the basis of excess profits taxation
and a graduated STALE for such taxa
ton instead OF a fat rate They. as
well as Others object. too. 10 fixing
the standard OF average earnings on
the basis of the three years immedi-
ately before the war, When all these
matters have been thrashed out and
A conclusion come TO. business will
adjust itself TO meet II.
How Big Are the Added Demands >
In the textile Industries there has
been, ever since this country entered
the war a great deal made of the
added demands due to the govern
ment requirements, II has been
averred that the mills have been over
taxed by these demands so that they
cannot he depended upon to turn out
enough goods for the civilian trade.
In some instances. OF course. the
talk has been put out simply as i
basis or pretext for avoiding COM
pliance with contracts that did not
look as profitable as when first ac-
cepted. But so much has been and
il said on this line that many have
really come to believe in the made
quacy of the capacity OF the textile
plants. 1t seems hardly necessary to
assert that such a notion is not war
ranted. There appears to have been
an exaggeration OF the quantity OF
supplies called for or to be called for
by the military and naval forces of
the country so far as articles of wear
are concerned. II things were normal
the regular requirements of these per-
sons would have to be- and could
very easily be. attended to- while in
the government service they will use
up perhaps twice as much Of wear
ables. This for about million and
half OF men is not much OF a strain
on the capacity OF mills. which are
more than adequate for hundred
million OF population in this country
and for large export trade as well.
And what makes II easier Is that the
kinds of articles or fabrics called for
are few in number To turn out a
million yards of one abric is a much
simpler proposition than to produce
the same quantity in a hundred diff
|, What Textile Mills Can Do.
+ fair approximation OF what the
, textile mills OF the country can turn
out may be shown by the figures Of
what they have actually been doing.
In the year 1914 the cotton mills OF
the country turned out products to
the value Of 1901. 30o,933. That year
business was especially poor and the
prices OF cottons were very low Since
that time about one million more
spindles have been put in operation
and the output has been very much
J increased. The capacity OF mills has
also been much added to by improv-
ed equipment. As to wooIens. 1t was
estimated before the war that the
mills OF his country could, working
two-thirds time. produce all the ma
terial which the people would require.
even though not a yard were I'M
ported. In 1909 the output Of the
wooden mills had a value OF 3507, 1885,
ITO. Five years later. following the
slump. the output had been curtaiIed
to $464,249.S13. At present prices the
value would be about double that. II
lie safe to saw that billion dollars
--~~~-' = fstr> '-s-5r -s~~- ,,~der preN-
mate and that the &c