The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1922-12-15
icy r. KENNETH EvANsI
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In spite of a reorganization and
adjustment plan. affecting the en-
tire United States which has been
disastrous to some. alarming TO
many and not pleasant to anyone,
Blue Earth county has not been ma
lel1any affected. Although it is
freely predicted by some that the
worst is yet to come so far as the
nation is concerned and that long
period of depression is ahead, Blue
Earth county continues on the
even tenor of her ways, milking
COWS, raising chickens, and follow
ing general agricultural pursuits
and marketing the produce through
cooperative methods TO known
markets.
railroad strikes have come and
gone; the coal situation has been
Critical; markets have fiuctuated,
yet the farmers OF Blue Earth
county are paying their bills, Great
ing new wealth and in turn the
discount their purchases.
Banks Show Substantial Increase
The six banks OF the city show
very little borrowed money. In 1912
their combined resources were $5,-
Sz6.387.S9 as compared TO $9,33S.
969.CS in 1922 which shows how
substantial has been the advance
ment and development in financial
circles. This S3,392,5SI.19 increase
can be directly traced to the devel-
opment of the natural resources
with which Dame Nature SO iber-
ally bestowed this section of the
most receptive mood. Dairying and
intelligent stock raising has been
the chief OF the creation of new
wealth.
The federal reserve system shows
that the northwest kept an even
keel even in the fact CT strikes,
labor unrest. fuctuation in the
price of commodities, and attempts
in some quarters at protiteering.
This in itself is indicative that the
country has returned to point OF
normally" and is in position 10
meet any emergency that might be
thrust upon 1t.
The National Situation
Generally the financial conditions
or the United States never Were
better or the outlook brighter. Our
foreign debt has been paid and the
world today owes the United States
more than has ever been owed TO
any one nation before. For the first
time since the Civil war the United
States maintains merchant marine
for its export work. The annual out
20 OF about $500, 100000 a year on
foreign debt has been stopped: Prior
10 1914 the balance of trade for the
limited States was never more than
$500 ,000, 900. The year 1921 closed
with balance in excess OF S6,O0O,-
100000.
The Nations Resources
Today the United States has six
per cent of the worlds population;
seven per cent of the worlds lands
and more than 25 per cent OF the
worlds agricultural products: more
than onetthird of the worlds manu-
featured goods and more than one
third of the worlds gold.
These facts are cleaned from gov
eminent statistics and those gather
ed by the National City Bank of
New York. Do they indicate hard
times ahead? Is there anything here
to "view with alarm? Certainly
there is much to which We can point
with pride Foreign countries, par
ticularly, Europe, cannot continue to
buy, from us unless they can earn
money with which to pay. which
shows that the sky is not altogether
cloudless. According to the depart
ment of commerce or the natlon al
this time there is a healthy sign
pointing to the gradual return OF
more normal relations between our
exports and imports which will have
beneficial effect on the national
exchange situation. brought about by
increase in gold imports but slightly
decreased commodity exports and
imports.
Minnesota's Condition Good.
Bringing economic conditions clos
er home, the state OF Minnesota is
recognized to be in better financial
condition than any of the western
states. Her reorganization has been
more rapid. In fact 1t is well known
that were il not for the effect of the
national situation on the state the
period of adversely through-which We
have Just passed would not be felt
here TO any marked degree
Just at this time in Blue Earth
county conditions are exceptionally