The Washington times., 1912-09-08


There are very encouraging signs
anent quick recovery in local secur-
ity trade. Local investors will have
nothing to do with New York stocks
and once more the safety of the Capt.
tails Investment opportunities is brought
forward. There Is not a utility stock
on the list that does not offer oppor-
tunites for profitable investment and
placed. Moreover there is safety. sta
bility and assurance that though money
may be close and the political fight
hot, there will be nothing approaching
uneasiness in the Capital, for there are
no trusts here-except the market COM
mission men.
There are bank stocks that will make
the investor money, If the payment of
comparative small returns in the in
terim will satisfy.
Every corporation listed on the local
exchange, Is making money: that is.
every one that is on the live list. There
are some dormant some closely held
corporations that do not appear save only
semi professionally on the records vf
sales, but there's prosperity here in
chunks despite the hot weather and the
idling season.
1t is interesting to find that Secretary
MacNeagh, II he has been properly
quoted Is willing to use public money
to relieve financial stress should there
Re any as result of the movement
of the billions of value in crops to the
markets of the nation.
With practical certainty of a House
Investigation If he in any way aids
Wall street, in a financial press, the
Secretary of the Treasury might be ex-
pecsed to be overly cautious, but dras-
tic conditions demand drastic treatment
and the Secretary has many precedents
to follow.
Moreover Wall street Is q legitimate
| business proposition, despite opinions
, otherwise b ysome Representa- tives. 1t
IS the market place for billions of in
vestments for the account Of American
citizens and it assures a degree of sta
| bility to the stocks of railways, the
| arteries of travel and transpor. .ation.
| Wall Street used in the broad dest sense
| does not mean the ma rgin traders that
watch the fluctuations in stocks and
| play for the odd points rise or fall.
The treasury of the nation is bulg-
| ing, having in its vaults more gold
nearly double the holdings of any of
| the great powers of Europe. There are
| 81. .21l .1693 327 worth of gold coin and bull
| lion over in the big vaults.
! Making gold and silver coin is fine
business proposltion-.when the Govern
ment engages in it, Not the lndivid-
ual The Government makes a profit
| of STAG when it coins cents. on every
! Is cents worth of copper that 1t buys.
1t makes $3.50 on a purchase Of "a
| cents worth of nickel. Less mint ex-
| penses, which are small. When gold
|
per Is used and the Government asks
cents for each gold ounce to pay for
| the alloy.
| 1t has been calculated that the Gov
eminent has made 500. .3S5,212, to be ex-
act, from the coming of gold, silver,
nickel and copper coins during the last
! forty years, enough to pay tour-nrthS
of the cost of the Panama Canal con-
structon.
In the last monthly letter OF the Ma
tional City Bank of New York City.
| much space is devoted to the grand
work being performed by the American
Institute of Banking. The following
| paragraph closes the letter:
the younger generation OF bank man.
who will in the near future bear their
| full share of responsibility as bank Off
| GERS can not fail to exercise a potent
influence on the great questions IN
| volved in the reform OF our currency
| and financial laws. The chief obstacle
| in the path OF these reforms Is ignor-
of the basic principles OF sound money
| and banking.
THE thousands of young men of
| American Institute Of Banking who are
| seriously at work studying these prob
lens. will help to Danish the popular
inertia and Indifference which now re-
| tard progress"
| American Institute OF Banking may be
| confidently expected to stand together
| when their turn comes to dictate the
policy OF Washington's banking busi-
ness. to work as a unit. to agree and to
| quickly eliminate many of the abuses
| that today restrict the earning power
of these institutions.