Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-12-24
European Problems
Exert Influence In
Country's Business
BY THE wELLs.DIcKEY COMPANY

~y
While domestic affairs moved slowly
during the past week, the entire char
acter of events was influenced quite
largely by news from abroad. There
seems to be a growing disposition to
study the possible effect of foreign in
fluences on business in this country.
The. subject of inter-allied debts, the
German crisis, the position of England
with relation to her debt to this coun-
try, and a more tractable attitude on
the part of Turkey. are all coming 10
be Of outstanding importance. Nh1le
these subjects are all old, they are
receiving broader consideration than at
any time previously, indicating a reall-
cation on the part of business interests
in this country that u commerelai
progress is very closely tied up with
international affairs.
Business in this country is moving
along on the same even course it has
been for some time past. There are
no serious clouds on the local horizon.
with the one exception of the libor
situation. which still continues to give
considerable uneasiness. The problem
of radical legislation is another which
seems to be. giving some concern. more
perhaps than the situation really Justl-
flies. There has been 50 much oratory
during the past campaign embracing
campaign promises which, if carried
out. will work a serious hardship in
many lines. However. Indications in
congress and in the various state legis-
latures about to convene would seem
to warrant the conclusion that legisla-
ton will be progressive rather than
radical. The farm bloc in congress is
certain to pass many measures IN the
farmers interest. So long as these
are carefully conceived and furnish real
relief for the present agricultural sit
uation without at the same time pau
| perizing the farmer. their effect will
be permanently beneficial.
Exports Are Improving
Tt is true that bankers and business
men are looking forward to the new
! year with q great degree Of confidence,
| even admitting that the European stu
| alton is still a disturbing factor. To a
| certain extent the prosperity which has
been developed in this country is self
| contained and the increased purchasing
power in various sections of the conn-
try, due to higher prices, should make
for q decidedly better situation in in
dustry during the balance of the
winter. AT the moment tnefe mas been
a slowing down in the basic industries
due no doubt to seasonal thar to any
permanent retarding influences. Basic
conditions in this country are mostly
favorable: our banking position was
never better; retail business is more
active than it has been for some
years; grain and cotton are both or
the upturn, and our transportation diff
ficulties are gradually. righting them
| selves.
The export tonnage in October, 1922
showed gains just as satisfactory as
the increase in value. The October
value was $372,0OO, 900, September
1900, 900 and October. 1921. $343,.
100000. The value Of October exports
in 1920. therefore, was $4,000, 0Ot
higher than for the same month n year
ago. Food exports increased by 81, 800,
900, finished manufactures by $4,000,
COO, and crude materials (non-food)
| $l2.. 900. OOO. Shipm ents of copper ant
steel did not vary much in the aggre.
| gate tonnage from September, 1922
Many specific items, however, showed
| substantial increases over the same
period last year. The declines in ton
nages during October centered mostly
In agricultural products-wheat, oats