OCR Text |
Show creased acreage. Ab there in good profit in raising cotton ' at present prices, and cotton is the most important import-ant crop in the adjustment of our foreign for-eign trade balance, tho outlook in this respect is entirely satisfactory. Whatever What-ever shortage there may be In wheat will be more than compensated for by tho large increase in corn acreage. If average conditions prevail wo should produce a record-breaking corn crop. As this crop exceeds In value any other oth-er two crops combined, and farmers are securing very profitable prices for this cereal, It is reasonable to hope for another profitable harvest. "Wheat is, of course, a very profitable profit-able crop at present figures; though it Is not without significance that the present high price of flour has so checked consumption as to cause supplies sup-plies to accumulate and force price cutting among the mills. "The fruit crops are not in as good condition as last year, and all crops combined are officially stated to bo 4 points below last year, but 8 points above the year before. "With our industrial and agricultural situations both in such promising condition, con-dition, it is not surprising that confidence con-fidence is growing, and already running run-ning into a strong degree of optimism. "The dangers that once more confront con-front us are those of over-confidence, excessive speculation and the fostering foster-ing of unsound and illegitimate enterprises, en-terprises, all of which are stimulated to an unwholesome degree by an excessive ex-cessive supply of abnormally cheap money. . The great expansion in loans sliws upon what an extensive scale speculation is now being conducted by big operators. "No imraediato change is anticipated anticipat-ed in the monetary outlook. Funds are very plentiful at low rates, the latter being likely to continue for at least another two or three months. Loans are hovering about record-breaking record-breaking figures, indicating unusual speculative demands. The end of cheap money, however, is already in sight, and villi begin as soon as crop and business demands assert themselves them-selves more positively. This will probably prob-ably not appear within another two or three months. Then we may look for I advancing rates In money, the effect of which upon the security markets will be awaited with unusual interest. Time money is already becoming firmer." PRSPE,R0.US TIMES ARE JUST AHEAD. fhe country Is entering upon a per. tod of great prosperity, i3 tho statement state-ment of Henry Clews: He savs the "h! a"E"ah i over-confidence, uhlch might foster cxceUo specu! ation and encourage illegitimate en- erprlse Reviewing trade conditions Henry Clews says: ' 'While tho crop outlook Is not. all at might be desired, it shows Im. provement and presents nothing to occasion oc-casion alarm, it l8 oulto poBslb, not probable, that we shall have as large a cotton crop this year as lan year, in Bpit0 of the agitation for dc- |