The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-05-07
w rld Of Finance

petroleum development, the total au-
thorizations of new capital since the
first of January being estimated at
$212, 000,000; while since the begin
new capital in this field Of industry
ming of the war the total authorized
has run up to the enormous total of
1851, 100000. Another new and high
ly important field of development has
been that of shipping. The new COM
panies Of that class organized during
the last few months, have amounted
to over $70,000,000, making a total of
100000 since the war began.
The one unsatisfactory feature to be
noted is the food outlook. This coun-
try undoubtedly faces scarcity, es-
pecially when the urgency of helping
feed our Allies Is considered. Last
years short crops, the backward sea-
son, exhausted reserves and the for
eign demand, all combined create a
serious situation. Efficient govern
ment regulation will, no doubt, be
helpful in moderating the crisis, and
present high prices should stimulate
a big acreage, though the shortage of
labor which Withdrawals for the army
will aggravate compdicate a critical
situation. Food economy is absolute
ly essential, but the largest possible
output. is the only solution possible,
and it remains to be seen whether
government regulation or high prices
will prove the surest cure. Perhaps
both will be necessary. For Ameri
can farmers a year of great prosperity
| is ahead, since they can count upon
good prices for the largest products
within their utmost reach.
AS already indicated, one great con-
sequence of the war has been tre-
! mendous expansion of the activities
| and power of the government. These
| have not been confined to prepara-
tions of the army and navy, or to fl
naming the. same, but have extended
into the regulation of shipping, the dis
trbiution and prices of food; and may
be still further extended before the
| war ends. Our railroads have self
modified themselves; the officials of
fifty roads chiefly Western-having
| put complete control of their systems
into the hands Of committee of five
i who will run the combined system as
q. unit for the purpose of cooperating
with the national government This
1 is form of practical patriotism that
should be recognized, and is being
| widely applied to many other lines of
| industry. With such momentous
changes confronting them, manufac-
turers and merchants alike are oblig-
ed to exercise extraordinary precau-
lions in making contracts extending
into the future Because of general
scarcity in all lines of merchandise and
the necessity for increasing and main
tanning production. There is no lack
of confidence in the future; but the
uncertainties and readjustments of a
totally unprecedented situation nat
ura1ly restrain future contracts and
limit all important transactions to a
/ spot basis. Government regulation has
not been a grand success abroad and
is acceptable here merely as war
measure, but happily we can profit
by experience of the Allies and avoid
many of their mistakes.
The mosquitoes kept Staten Island
from becoming the residential garden
spot of the world, justified by its sur.
! rounding water, soil and climate.
4 The U-boats are the mosquitoes Of
the Atlantic ocean. Staten Island has
been largely redeemed by scattering
oil on the stagnant waters, thus de-
, stroying the creative bases of the mos
J quito. The U-boat mosquitoes mus
, be dealt with in similar drastic man.
, ner right off, and their base of sup.
/ plies must be destroyed, also the en-.
, tire coast of Belgium, from which the
, U-boats are mostly launched, shoult
be b1ockaded, and the U-boats largel,
} outnumbered by means of small higl
: speed torpedo boat destroyers on thu
entire lane from our ports to the war
? zone.
The ingenuity and go aheaditivenes
: Of the American people certain1!
ought to be equal to the task of rid
: ding the seas of the U-boat nosqui
| toes, and it should be done withou
: delay. Then the war will soon enc
, and a, lasting world poace be effected
{ The world is now about ready for it
! the U-boat mosquitoes alone block tn,
l way The effectiveness of the remed,
!. applied to the scourge of Staten Is
land was realized too late, causin,
Y Long Island to forge ahead under al
: impetus strong enough to make it nov
. the summer residential place of on
0 rich New York people. The Unite,
/ States must no delay in applying
: remedy for destroying the U-boats O
: else she may suffer the fate of Slater
: Island.
yI( STOCK MARKET {