The Bridgeport times and evening farmer., 1918-07-01
HENRY CLEWS
M!s.EEKLY LETTER

lta1y'S defeat of Austria means
more than merely raising the morale
Df the Allies and lowering that Of the
enemy. By driving the Austrians
back across the Piave, the chance of
Austro- German domination of the
4 plains of Northern Italy almost dis
appears, This section Of the country
Is the great industrial portion of Italy.
Two-thirds of that country's horse
power and industrial population are
j In this region, the domination of
which by the enemy would greatly
Lmperi1 the future of Italy, both dur
Ing and after the war. Had the en-
envy forces bean successful, Italy
would have been more dependent
upon the Allies for food and shipping
than ever; thus aggravating the scar
city against which France and Britain
are now contending. Italy has not
only retrieved the disaster of last DC
tober, which fastened unity of the
Allies, but the blow thus admins
tered may materially aid in forcing
Austria out of the war. German po-
litica1 leaders are again talking peace
by indirect means, and the evidences
multiply that both Germany and Aus
tria are grooming bitterly under the
burdens Of war. Peaoe, however is,
not in sight, for the simple reason
that Germany is not by any mea ms
ready to submit to such terms as the
Allies are determined upon enforcing.
The certainty tina: GermSs.F must
submit, willingly or unw4iin5ly, to
just penalties for the fearful crimes
she has perpetrated Is made doubly
sure by the irresistible military forces
which this country Is now sending
across to France. Before the winter
begins there will he an American
farny Of two millions over there, the
Fighting qualities Of which have al
ready been proved. German scorn at
American efforts will soon turn into
fear as the millions of spirited and
trained fighting men reach their des-
tination. The tide has already turned
and is rising more strongly in favor
of the Allies each day. Another Ger
man drive Is, expected soon at the
Western front, but the ALLIES express
full confidence In their ability to meet
it. Some ground may be lost, but this
is not material the significant thing
being that each drive shows increas-
Ing German exhaustion; while the
american army will soon be at the
front in sufficient force to hasten and
Insure victory.
The situation of public service So
curittes is at last receiving serious
attention. Some form Of relief must
be found for gas, electric and street
railway concerns, which are not al
oSved to meet increased cost Of OPP
ration by higher charges for service.
Three alternatives are open as a So
luton viz: higher rates, government
support, OF bankruptcy. The first Is
the easiest and sanest solution; the
second is a doubtful expedient that
would probably result in increased
taxation; while the last Is really I'M
thinkable and not what the public
either expects or desires. The Fed
eral government has shown an indis-
position to give financial aid to street
railway companies, which Is not sur
orising; since such action opens the
boor to demands which it could not
well pretend to meet Public service
Corporations should obtain their f1nan-
,ial aid az far as possible from GUS
.omary banking circles; and, If this
s impracticable, the local municipal
bodies responsible for driving these
Ioncerns to the edge of bankruptcy,
yhould be obliged to furnish the nee
sssary relief. Not a few public util-
ties are selling at exceedingly low
prices compared with past records, a
condition which is OF course explained
NV the practically exhausted margins
hitter dividends.
There is still a remarkable tone OF
confidence displayed IN the persistent
resistance of security values against
adverse news. This confidence is pri-
narily based upon an improving mil
tary situation, as well as mistaken
belief in ultimate voctory on behalf
81 civilization and democracy. The
TACT that the war may continue much
onger than expected now cuts nc
igure whatever in public belief. The
Excellent crop outlook is another fac
or of much encouragement; a. large
Yield of cereals being very probable
ind indeed a bumper crop in some
Eases. Cotton. too, promises magnif'
,ently, condition being much higher
han a year ago, and acreage abou
per cent. larger. Fruit is doins
we'll and large crops are genera
throughout the country peaches be,
ng the only exception. High prices
ire obtained for all agricultural pro
iucts; so that the lightly taxed Amer
can farmer is enjoying extraordinar!
prosperity, with a ready market fo1
III he can produce. Large crops a
high prices will naturally require
anger volume of money than usua
Tor their handling; factor of som
consequence in view of present finan
.ial conditions. AS bearing upon tn
AGRICULTURAL situation the last month
v statement Of exports is of interest
DUR shipments of breadstuffs in Ma,
we're valued at $50, 100000, compare,
With $64, 100000 a year ago. The ex
ports Of wheat alone fell 100000, 00C
nough -four increased $16,00O,OOO an
ne and barley $1,000, 900. In the sam
month meat products were exporte
3. the value Of Sill, 100000. an inereas
X SIS. OO0, 900, while mineral export
ose to s32, 900, 900, a gain of $4,000 00'
General business continues large i
aolume, though some lines are de
PRESSED by war, especially the build
pE trades; while others are stimulat
ID, notably the steel industry. TIL
after settled down to the new fxe
pHdce regime, which assures anothe
hree months of profit and activit!
rhe steel industry must be recognize