The semi-weekly messenger., 1907-10-22


ness conditions | have seen. l belle we
If would interest a large numbe Of |
YOUR readers and hope you viii pnb-
liSh it. IL =. hc@C cen
The Prussian Finance Mir lster gave
utterance to a somewhat CO ,mmon view |
when he said in an interv aiew purlish- |
cd Yesterday that the g carity of m0n-
ey in Germany is one consequence of !
our extraordinary pros /Serity," ana tha.
he had absolute fa 18th in the unGi |
mirished prosperity Of the United |
States, believing tAat the present strIn
gency in money here is closely .oa-
nected with the very great demand for !
This is one OF thOse !
or .e-sided views which a.
calculated rather to obscure than to l. !
Illuminate the situation, containing :. !
half truth and a ful}-fiedged fatiacy
The fallacy is due 20 the persistent
confusion Of mind which fails % pc
ceive the difference between the
scarcity or stringency in money and
lack of available capital. Theic IS
money enough to effect the transfer
and exchange OF floating capita an1 |
it's applica zion TO the purpose for ThiC2
it is needed, ard for the eXploiLIn~ o,
l,.o,.;+ ,.o,.od ,-,.l,,, a,,ic+ino ,-aluos. hut
the trouble is that The real capital ana
the solid basis of credit are deHCien.
-, ,l,,,,,,4itil,, ea,. hon, oo-,s...,
'.l. ,a ,,+,,ir,,,o,,c., =, tho mar
1900, ~ -, ..,,i+.- -,,I,ira =
NJ '' -. e 49,. ,.,.t
ii"' ~ 5,,,,,,,o
"Iaii'l1, 'S''"'9 o,.,,,,,,
-" u'"'' ,., fl,-.1
o,.+,,...-,,.,,.,. .,,,,<....,.-
r.an, I},o ,,o+i,,it,. If I,,s-
'..,,.a,. ,..,loc,e,i,,, ,-eoro
.iaa,. .d,,orc1ne
',:,l. ,i4l, 49,, ;,,o,o..aa ~ do
p1lN 4 F ,,,.o,-or-
h!"il''' ho' ,oc,r,are..I IN
,,-r,l,.,c e,+i,.,,,1.,+o oc,ivitv
.,oo,.a,. -,r;.7, o,,.o,ol,o+,no nace
~. 1-,,,s -, oI,,orco IN rricos con4:o
,,,,a ao,>,,, fo, a,ti.lec for oGn-
,E,,- 49,, o,o,+or do,oand for labnr
;,,o,,o,c,o j., ,,,o,,oe ,,,bic,, ka-n
1.-o, -, ,,,il,o,, or,ino This a;vae
C,,,,eo l~r i,,o,,oa.e;,,e, ,,r,fi+ and indnccs
10 ,,eo of all 44,a canit,1 that can be
eI,ts;,, -. 1,o,,ou,i,,o in ordor To ,ean
t -e. a,ltoiroh1o In mi.
'llo ooa~a l'r ot,o tho,o ,S cone+,nt nortaaciae
81 e ,,,,+i.., ,,,o,,or+,, ,ya,,,eS
,,,t -, i,croaeino extent exnecta-
t;a,. -. f,,+,,ro ,,,I,,oc r,akina credit
',ar+ ,arc.o1~- ,,ro.. f.it,, in that which
~ - W raoiizod f,.on, production
.,3I, ,.e,,ro,,,od oo,,i+o1 Ac this ooee on
.oe.l, .ro o,o+bnrod IN while obliga-
t: -. ,r, doforrod ond there is
-,, o,,,,o,, aor;no of .coDi+al in extra
--aIasa,+ oondi+nroc risky yon{uras.
'A9''ll: ~, foa.,,atia1, wien incroasin~
la,,o+i, o,,d dis+rihut,n of
15,,a+o r,,.o md moro conitaI is re-
eo. 49,. o,,r,,o,+ ,,rocacees ao,.
,oo,,,,;,,e, oroai+ for CON,
t:o,aa o,,.o,,cion oP foci;itics for nro-
I,,,to-, - norrou,od The time comes
oo,o,,,,,+ivo domand cannot
--,,o &c birb oos+ and
"'s'llN plU rooo+ion ie dino for
is'i - 49, 80 (,,,,e,,,,,,o,., o.o ,,nttino
i"i 80 -,soe4 f,.o,,, +bo cr-
lJ11S ,o,i+,- ~, account of GROSS
=, ~ die+rirntion of It's
w., 4Is,+ +i,,,o o.ri,,o.s tho
'l'o l,.i+aI ,ac, 10 ,,oc1,on a-itb
ueih''iiO ~. ,t 49,. 1S,,,,, ,,,,oducod
rilo ~ ooil"lI,I 1.anI,laau Taco oe tho nas1
- +bie noint that business
+ ar,1,- :, chic country
C,, ond no+ 70 q less de
o01 - W. a+Lor 4-h, oo,,n,erc,a1 countries
<,I,o 3 4ra,h,n ie not tba+ solid nros
Il. ,- oa,,,,Iisbod scala Of increos-
pe-i'S t''i ana business act,vitv
GU pl.0'U ,,eo of mora ..monev" than
.,so+ +I,o ,,rosnaritv is not
VIC nav Wv ,S,,,,I o,l ,,,,ao hroad rounda-
So''' ''.i' ,.,,aa., 5',, ,>rod,,ctior an6 dis