Arizona silver belt., 1906-01-18
THE FINANCIAL OUTLOOK

THE FINANCIAL OUTLOOK
 There is no legitimate reason why the year 1906 should not be one of the most prosperous in American history. Manipulation by the money kings and alleged ''captains of industry may bring about contra results. but there is no cloud visible on the financial horizon to affect values which are based on other foundations than hot air and water.
 Banker Schff of Wall street and Ly- man J. Gage, formerly secretary of the U. $, treasury, have made public utterances predicting dire disaster unless congress imparts more of the rubber quality to our currency system. That is the view of men who gamble in millions as piker would with five cent chips.
 What are the facts?
 Bountiful crops of grain are selling at prices remunerative to the agricul- turist. Cotton has sold at nearly double the low price of 1904, and will probably sell much higher Though the crop is short of that picked last year, the grower, factor, ginner and every inter mediary who handles the crop in any form will get far better net return than the same business gave them in 1904. Pig iron brings several dollars per ton more than the average price, which is so much additional profit. The demand is enormous and manufac- lures of steel are being imported heav- | fly because the home works cannot supply the requirement. Copper is selling at high range and the best judges among the large producers pre- dict continued high prices. Silver has appreciated nearly twenty per cent and all other base metals have advanced materially.
 The demand abroad for American products is simply marvellous, and the international trade balance should be heavily in our favor,
 Under these conditions, then, the country should see it's most prosperous year, if the big gamblers will reform and act their part as legitimate and conservative bankers as they adver- tise to do.
 Security prices are not dangerously high at this time if the pawnbrokers of Wall street do not take it into their heads to lock up their treasure boxes and refuse accommodation at nominal rates and thus precipitate forced selling that would depress the market and bring about panic conditions, in order to present an object lesson to the national legislators.
 The country does not require a rub Der currency to accommodate the legit- innate demands of a healthful business expansion; an expansion based upon such a degree of conservatism that a panicky reaction would be impossible. ! lHCoE uO flDl t about stable values. Their toll is taken alike from an up or down market. They know when to buy or when to sell because they control market condi- tions with the money of their deposit- ors. The present rise in market values of all securities has enabled them to sell out their accumulated holdings at fine profits. "The public" is now the principal holder, and the big fellows who have sold out are not averse to turn on the short side at the expense of the suckers, especially if they think they can influence legisa- tion for an expansion of the currency that will enable them-when they have covered their short contracts and se- cured line of cheap securities to inaugurate new bull campaign which will unload their strong boxes again on confiding public at undreampt of prices.
 If congress yields to this pressure and tinkers with the currency problem, situation will be precipitated that will surely bring about the very crisis they are predicting. An elastic currency and plethora of cheap money would induce such crazy speculation as this country never before witnessed, and the inevitable succeeding crash would bring ruin to millions.
 What the nation asks of congress is to stand pat on the currency proposi- tion and encourage honest banking methods, which will solidify values and prevent wild gambling on "othar peo ple's money"