The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1933-02-24
ECONOMIC HIGHLIGHTS
February 20, 1888.
Happenings That Affect the Dinner Pals, Dividend
Checks and Tax Bills of Every Individual. National
and international Problems Inseparable From Local
Welfare.

According to R. G.. Dun Company stability in
many branches of industry sustained than at
any time in the past three years survey by Standard
Statistics indicates that while trade outlook for the
immediate future is irregular, number of major lines
Strengthening 1t is interesting note that food
products making much better showing than in
dustry in general.
The belief is widely expressed that clear-cut
legislative program at Washington would probably do
to initiate trade activity than any other single
development at the moment. The present congress
has created the impression in business that almost
anything may happen, thus forcing industry to be
tremely cautious.
The Boston News Bureau observes: "An of the
factors at work may make for further shrinkage
in purchasing power but brings into closer readust-
ment the various factors that will ultimately make for
stability And the rapidly investment confidence
is strengthened the will the processes of fnan
cal revival be stimulated
The index of farm prices reached low on
January 18TH standing at that time at 81 per cent of
the pre-war average. CA year ago the index was at
90 per cent? Eggs took drop larger than the
advances have been recently registered by apples,
horses, wheat and cotton.
Continued severe weather, coupled with damage to
crops from other factors plus favorable export
situation gives rise to the hope of substantial improve
ment in wheat prices later Qualified observers
also forsee the possibility that within the next year
domestic consumption of wheat may balance pro-
ducton, thus eliminating the need for foreign markets
It is held that the farm mortgage situation, while
bad, gives cause for the hysteria that has been
sweeping over the country in recent weeks. Fore
closures for the present year. they increase in the
proportion as in 1882, will total about 267 000
This only 43 per cent of the number of farms in the
country Another favorable sign is that insurance
companies and banks have been following
tremely liberal policy in the matter of farm mortgages
only foreclosing when no other course is possible
The present acuteness of the situation is also, mainly
sectional.
Great interest is expressed in Roosevelt plan for pro-
vding jobs. It is to be huge experiment, and is
expected to give employment to 100000 men in the
Tennessee Valley alone. 1t includes: Reforestaton,
creation of flood control basins reclamation of fertile
bottom lands for agricultural use, etc. Mr.. Roosevelt
believes that the entire project will be sefsustaning
and can be financed through bonds.
Budget increases of about 10 per cent have been
registered by Congress. The greatest increase of
$4,000, 900 for the executive office and in
dependent establishments. Other marked increases
registered by the departments of agriculture, in
terror postofice, war, commerce. with decreases by
the treasury state justice and labor Is this the way
economy pledges to the taxpayer are to be kept?