Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1907-04-02

SsPssds spos ibs kess yos 0st
Dr.. q =
Cream Baking Powder
MAKES Tho food Mner-Navor0d.
more h0aikhfkl and delicious

because demands wtil still be large
There Is . disposition In banking cir
eies to he much more exacting as 20
collateral. AMI especially in the mat
ter Of lending aid % new schemes.
For ON time to come the latter will
have 10 b. postponed. unless OF the
most desirable and substantial char
acter. We are evidently In for a pc.
Rod Of more moderation. asd the
country may consider itself fortunate.
indeed. thai ten crash which has oc'
Cured has not bean worse. In NIL
probability. there Will be some slack
ening in trade, There viii be lessen
ell demand for Injuries. for iewelry.
for automobiles. and for hlgh-priced
commodities. And there will also be
a pOstponement Of new projects
which ultimately will diminish the
demand for labor and raw materials
until these come down 20 n lower
level. or until the country has accn'
mulated a fresh supply OF capital and
had time 10 recover from the stagger.
Ing effect Of the March collapse.
which viii prove a memorable one
In the history Of American finance.
A good deal Of exaggeration exists
as to the effect Of Mfr. Roosevelt's at
tituie towards the railroads. II all
the truth were known. II Is likely
that he Is not half so radical as some
Of his enemies would have us believe
The danger OF injurious federal legis
lation has u~nquestionably been much
exaggerated. That something will
eventually be done TO prevent IA repe
tition Of old abuses must be accepted
as inevitable; but any radical or sc
ri0usly injurious national Legislation
against American railroads Is almos'
impossible. Notwithstanding the mis-
/ deeds Of some of their managers, thu
American railroads are In too SCUM,
a position and OF too great bench
and importance 10 the country q
large to permit the passage Of an!
dangerous legislation. President
Roosevelt neither asks nor would HI
support any movement of that char
acter. The chief danger lies In radi
. cal action by ONE OF the states, blu
this can be. and probably will be
counteracted by intelligent discussion
: and the taking OF the railroads int.
more confident relations with tht
public. The latter policy has alread,
: been wisely undertaken. and In fu
J ture the market will probably bav'
less to fear on this score than from
the reactionary effects of economi
causes. These have really been a
the bottom of the recent decline, il
. spite Of the attempts to place the r,
sponsibility upon various individuals
j who a do nothing more than aggra
L vate Or p~reciDitate the reaction whicI
Is sure to come. The possibility of
y serious railroad strike In the West i
y the latest blow to confidence in flnan
cial circles. but 1t now begins to loo
as II such a serious disaster will b
averted. The worst of the financia
earthquake in my opinion is owe
Picking up the pieces and cementin
them together Is now In order; thi
should be done without further delay
' A new and safer bottom will resul
T for active trading. The shrinkage il
values of $4,000. 900. 900 which ha
taken place should be considered an
pie to amend the excuses In specr
lation at high prices which have bee,
so transparent for the last twelv
months at least, HENRY CLEWS