Show BRIGHT BUSINESS As an able exchange aptly says there are two important factors in the financial situation at present one is the fact that europa seems at last to be recovering from the troubles incident to its unfortunate ventures in the other is the extremely favorable outlook for our own crops and the equally significant prospect that we will find a brisk market for our agricultural products in respect to the first of these it now looks as if british capitalists has accepted their losses in the argentine republic He public aad concluded to charge off a thousand million dollars or so invested in that part of the world as a total waste of money this is almo t equal to the entire annual income which great britain derives from its immense foreign investments spread oyer the whole world it is no trifling matter even for the richest country in the world but the danger was that londona Lon dons capitalists might in their efforts to escape the inevitable make the situation temporarily worse it was feared that they would in order to raise money ask america to relieve them of some tons of millions of dollars of our own securities bat this danger seems to be disappearing and the english investor has learned that DO the world posses ses the credit or affords the chances of profit on the judicious investment of capital that the united states does one moral of the argentine troubles enthat the alleged conservatism of european bankers is an exploded myth abo embarrassment of a large banking institution at paris owing to complications grow of the financial troubles in Argent itne is another example of the european financiers the bank of franco finally camo to acte ys tented a danger ons collapse in tins instance another fact is that the baals of england called on a representative american firm in london to take the lead in an effort to patch up for a time the last vestiges of argentine national credit it is to be noted that the effort is mainly on the part of english creditors of that ate country they are to postpone the assertion of th ir claims for three years so that the argentine republic Ee public and its people can eo gracefully through the process of bankruptcy they are doing it rapidly and nuy vary the monotony with revolutionary exhibitions the results of this process have been to strengthen the credit and financial standing of the united stater but quite as important is the fact that the agricultural supremacy of the country is to be echil cited in a striking way enrobe has experienced one of the severest winters in modem times the result bag been to ruin the crops in france germany and to some extent in busada it is believed that europe will produce next summer only two thirds of an ordinary wheat crop it will have to buy iaci supplies here one of the unfavorable features of our recent situation was our own deficient crops of wheat and corn labb year we have at present an unusually surplus of grain and the way europe ia bidding for it has caused a marked advance in prices in the grain market meantime the winter wheaton wheat of the vest is safely and warmly covered with a heavy fall of and all indications point to an enormous harvest with which to sap ply the rest of tho world no wonder that there is an active speculation in grain and that old hutch and his colleagues are making hay while the sun shines so brightly these are pleasing prospects good crops in the west mean a great deal to thercsa ther cst of tho country they mean an active demand for all kinds of goods later on that will set tho wheels of manufacturing industries and of general trade in active motion they also mean increased traffic for the railroads that promises better returns 10 lo the ten bullions of capital transportation and it also creates the presumption that more railroads will be built making a demand for iron and benefiting a hundred other industries |