The Washington times., 1910-09-04
"Neou Nationalsnr' About Same Kind of Red Flag to
WALL STREET ON A DEAD CENTER
AND DECIDEDLY UNINTERESTING
All Happenings Being Ignoredany
Almost Unsatisfactory Grows Tighter Demands o.
Crop Movement Incrae-LOcal Securde
By JOHN GRANT DATER
PubcationrI

affairs, would serve TO accentuate the
prevailing business contraction, but
Wall Street should not apply the ex-
IRENE view too literally. and il may be
doubted If the extreme view viii receive
any general or Widespread Endorsement
throughout the country. The peculiar
eject that Colonel Roosevelt has upon
the financial market has already been
mentioned. but the views EXPRESSED by
him. which are often found so disturb
ing in the Wall Street market. have
not been so interpreted elsewhere. In
fact, they have met with very hearty
Endorsement IN various parts Of the
country, and the views iave not been
found "a the slightest degree disturbing
by very many OF our citizens It, there
fore, remains TO be seen If the Wall
Street appralSement is the only correct
one, and furthermore II still remains to
be seen If the present Wall Street view
may not be subjected TO a very marked
modification before the final analysis.
even in Wall Street itself.
we never. according to the Germans,
swallow our soup as hot q 8 IL IS served
70 US and there has never yet been
an occasion where We have had TO
accept radical or revolutionary legis-
l2t1On III its most extreme radical or
revolutionary form. and. aside from
that, the security markets have a way
or taxing the measure OF events OF
innovations, Of political happenings
and the like. long in advance Of the
actual occurrences II was so in the
case Of COloleI Bryan in the free
silver campaign of 1926 He was praC-
tiCally an unknown man He came
out OF the West as a whiTlwind OF
eIoquenCe and dynamic force. but his
measure was taken months before Il
was determined at the polls, and such
IL has been. on numerous other OCCa-
sions, ard so IL IS likely TO be on the
present occasion no matter what view
may now be held Of the complex 20
lttiCal situation. and no matter how
disturbing the posi- biHties which
W an street conJures 10 Wnen u
paints Its scare pictures OF Colonel
Roosevelt. Whatever develops, the
security market will remain idle
staSnant, merely hanging upon the
outcome Of national election de-
ferred until November. 1912
Fair Business Activity.
Possibly the speculative market NAV
be held under some repression as a re-
suit Of the political uncertainties. and
also for reasons already cited. Il men
do not see their way clear 10 undertake
important new work. the country may
not experience as large a volume Of
business in the near future as upon
some other occasions IN the past: but
worse things could happen TO this coun-
try than an interval Of Iessened COM
meTCiaI activity. Business cannot
wholly stop in a country such as this
which is just now engage. in securing
harvsStS valued Al upward Of $50
000.0o0, OF theTedbOUts, and Il lesSened
activity must come, IL is not likely 10
be very long continued or Unduly Sc
we're The wealth from the harvests
viii prevent that and there must al
ways be here, 50 long as the soil yields
50 abundantiy q fair measure OF bust
ness. a volume OF business which even
in times Of contraction would establish
activity in any land
save this alone And should business
ease Up. why there are surely some adj
vsntages- We must Of necessity place
some curb upon national, municipal,
corporation and individual eXtrava-
Eance We must be able 10 buy and
sell. and msuUfactu again, upon some
thing like the old basis Of prices, and
We must reclaim Our once commanding
position in the foreign exchanges by re-
claiming our international credit bal
anCe abroad An interval OF enforced
economy would contribute 10 these re-
suits and quiet markets viii stimulate
a bond demand
Matters aside from politics which at
tracted WaU streets attention during
the week. were such as chiefly concern
ed money market developments. and the
returns Of the railway corporations for
the month Of July \ series OF rather
unfa vOrabIe shOwiuEs came 70 hand
from such important corporations as the
Pennsylvania, the New York Central
lines. and the Union and Southern Pa
cific roads, and some others Large