The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1922-07-08
GENERAL BUSINESS CONDITIONS

Monthly Letter OF July i.
The events of the past month pre-
sent a striking contrast between. on
the one hand. those which show en-
c~ouraging progress toward normal
conditions OF industry and prosper
ity. and, on the other hand, those
which indicate that human perversity
or distrust as seen on the inability
of men to work together for COM
mon purposes is the chief obstacle to
progress. The reports of business
generally have been favorable. World
trade has continued to show signs of
improvement. Unemployment has
been diminishing at home and
abroad. British exports of textile
goods in April amounted to 302,-
$4,000 square yards. against 1885,
10000 square yards in April. 1921.
Labor troubles in England have been
subsiding, and this Is true of France
and Italy. In this country the crop
prospects are excellent, financial con-
ditions are vastly better than a year
ago. and so pronounced has been the
restoration Of confidence that but for
the coal strike and the threat of a
railroad strike. the outlook would be
good for nearly normal business this
coming Fail.
In Europe, Industrial conditions
would improve rapidly but for the
political conditions. The prospect OF
a foreign loan for Germany has been
abandoned for the present, because 1t
Is impracticable for Germany to give
security for such a loan without a
settlement of the repara-
lions debt, and France cannot afford
to make a final settlement for any
amount that could be raised by the
loan. The problem seems well-nigh
insoluble, for France is under the
necessity of going on with vast hous-
ing expenditures in the devastated
districts. and no government could
remain in power that would aban-
don the claim upon Germany for re-
endorsement.
Meanwhile, German finances show
no improvement, and mark exchange
in New York within the last week
has touched a new low point. at
$O.0O27A. Finally, the political
situation within Germany is in con-
fusion. The Minister of Foreign At
fairs, Mr.. Rathenau, who has stood
with the Prime Minister for the pol
icy of carrying out the treaty obli-
cations SO far as possible. has been
assassinated, and the governments
support in the Parliament is uncer-
tain.
The Austrian situation has become
more desperate than ever, the cur
rency having lost within a few weeks
one-half Of its already attenuated
value. The situation is complicated
by a strike of the government en-
ployes operating the railroad. postal.
and telephone services. The
plan for a central bank issue, for
which funds were pledged by the
British, French and Italian govern
ments. has not gone into effect, but
new currency will not remedy the
unless the government can
obtain to meet its expenses.
The conference at The Hague hes
taken up anew the negotiations with
Russia which yielded no results at
Genoa. The Russian representatives
have renewed their demands for
great loans, which they say are in
dispensable I % a revival of produc-
tion in Russia, and which they make
a condition preliminary to any ne
gotiations I've trading rights or x
listing indebtedness.
The election in Ireland has indi-
Gated that a majority of the people
support the compact with Great Brit
ain entered into by Grifiths and Col
Inns. but peace is not established.
Sir Henry Wilson, Field Marshal Of
Great Britain. has been assassinated.
and this act is supposed to be relat-
ed to the Irish situation.
These have been the leading fea-
lures of the past month abroad. while
In this country the growing menace
of coal shortage or Of railroad conges-
ton. II not railroad suspension. over
hangs the situation. Even II the coal
strike is promptly settled and q rail-
road strike averted, the problem of
handling the amount Of coal that will
need to be transported between now
and Winter will tax railroad capacity