Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-09-08
PASSED rIiE DANGER LINE.

For months past the prophets Of
evil have been telling us dolorousis
bat rather boastlngly, that the crash
which they had been looking for was
already NJ hand. ana that we might
. for a season u hard times 10
continue tn the country should go
back 10 a safe business basis and build
up again-and wa have nc doubt that
h viii be a matter Of some disappoint-
ment to our pessimistic friends 70 be
forced 20 recognize the fact that what
they had pictured az a veritabio
Noah'a fiood has turned out 10 be
merely a summer shower. and that h
business current 81 the United states
has already parsed the danger line
and IL settling back into its accusiom-
ed channels. all the better for the lit
tie shaking up and trimming down
that II has experienced.
our most reliable reports from the
great financial ccnters Of the country
concerning the conditions prevailing
during the week just past. show that
the scare" was practically over. and
that the money markets had assumed
their normal strength-indeed, giving
evidence In most Instances, of being IN
a more healthful condition than at any
former period during the present year.
and with most ~ the principal fac
tors working heipfully rather than
hurtfnsly. This means the return OF
public confidence. and since that has
been the only thing lacking the husi-
ness community may safely conclude
that the storm Is over There has nor
been ~ any time any substantial ron-
son Why the country should experience
= mamie. a crisis. q period u hard
times. or any serious business disturb
an-e ~ any sort or kind whatever
II Is true that public confidence hDF
been more or less disturbed In stocks
of al classes and grades because OF
the revelations 81 acknowledgement OF
corporations. and even more upset by
the i~nexcushbIe violence ~ reform
ers." federal and state, which, la a
great measure. has been aimed indis-
o~rllninately at all corporations, good
a. well a. had. hut the people of the
country have woke up-to the fact that
such recklessuess and violence bodies
only injury TO the Interests OF every
body. and hence the reformers see the
necessity Of adopting a more sane ana
temperate policy.
II is true that a good many stocks
have gone down IN price but none OF
them have gone below their proper
Jewel. When a twenty-cent stock is
quoted on the market at forty cents.
s. ought to go down. ana the country
cannot attain a condition OF financial
health ull Il does go down That b.
Just Mai has been lone BY the late
flnny. ana that. indeed. "a nearly AN
that has becn done. IA a fewatA-
stances good stocks ave been forced
below their intrinsic value, but nat is
merely. a temporary condition They
can not be kept below a price az which
they will pay interest on the Invest
mcnt. The dividends Win very soon
lit them out Of the hole But in the
meantime. OF course. thc general dis
iurbancc has pinched the money mar
Net There has never boon. however,
any actual scarcity o. funds sufficient
10 affect business The trouble hhH
simply on account ~ a gathering
"a and holding in Of funds by tho
Banks Tor prudential reasons 90 walt
rTi the rough weather would pas hy.
ana nov that ID has. 10 all nppenr-
passed. and by reason also 90
he valuable assistance wondered by
ms secrrtary 81 the treasury in com
to the relief of the market there
D. mo- sood reason io doubt that ail
the nffairs " the country. CONNER
cial ard financial win settle down
tteir accustomed channels the
same as before but on better and
sifsr foundations because ~ the shak-
Ina 40 end wrcdiuE OUT pr1ccss
Through wflch we have jIst passed.