Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-07-09
FACT AND GOSSIP
Of MONEY MARTS
Crops, Not the Politicians, Will
Have Last Word in Bring
ing Prosperity.
BY 3. c. FORBES.


finance have moved smoothly into the
second half of the year. No monetary
troubles occurred at any financial centers
Extraordinary precautions were necessary
in Germany, and though temporary ar
rangements were made to meet the mid
year demands the underlying banking
conditions there are not free from un-
pleasant features.
The conventions have spoken. And
High Finance acts as if no nominations
had been made. Neither the Chicago nor
the Baltimore dongs, exciting though
they were politically, caused even a rip
pie financially. Woodrow Wilson is re-
garded by capital as somewhat radical,
as red hot Progressive; yet capital has
given up trying to force a reactionary
upon the people. 1t is believed that VIII
son will not fly off at tangents, as Bryan
had habit of doing; that he will com
pete in a dignitied manner for election,
and that, if elected, he will not drag the
high office in the mire or subject it to
ridicue a home and abroad
Prosperity Depends on the Crops.
Trade is of larger volume. and there are
solid reasons for feeling hopeful concern
ing the new half years results Yet it
might be well not to act too confidently
on an assumption that a boom is in the
making
Crops, not the politicians, will have the
last word lin bringing or repuIsng pros
perity.
splendid hay crop is being harvested
"a fact of much greater moment than
city farmers realize, for an abundance of
grass and hay facilitates the rearing of a
nj f,t1 Do
will not be able to lay the famine prices
at the door of dearth of pasture.
The corn crop is still in the speculative,
formative stage All that can be said
now is that nothing has thus far devel
oped to create pessmism over the out
look The lateness OF the season could
easily be made up Indeed, conditions to-
day are quite encouraging.
|The fall of DC per bushel in the price of
wheat is a significant incident
The American farmer, in short, prom
ises to contribute generously to bringing
about general trade activity
Scarcity of LowPrc Labor.
Scarcity Of labor is already complained
Of The supply is shortest where wages
are lowest A more effective effort than
heretofore is being made to distribute i'm
migrants throughout the country, and
naturally Eastern industries, such as steel
and textiles. suffer
If the shortage should lead to a mod
crate increase in wages at the very bot
tom of the scale, the final outcome will
be beneficial rather than harmful to the
general WE'LL being
Investors are tmid. The millionaire
who buys in tens of thousands and the
worker who buys in hundreds are alike
acting cautiously. The widely advertised
reinvestment of July dividend and inter
st disbursements has not been extern
sive.
Many rich people are refraining from
purchasing either stocks or long term
notes yielding high returns or lend their
funds on ample stock exchange collat-
efal.
Capital Is Still at Sea.
Doubt, distrust, uncertainty, hest
tancy-call it what you willis in evil
dence Nor need an immediate trans
formation be looked for
Capital is completely at sea concern
ing political prospects. a three cornered
fight is something our financiers have
not been accustomed to diagnosing, ard
they do not relish the uncertainty that
mas been created. They assume a cheer
ful mien, but they do not elect to run
heavily into debt just yet-as they would
were they sure that period of expansion
and of prosperity was at hand
The stock market contrives to make
the best of things. Advances have pre-
dominated Certain specialties have risen
very sharply Industrial shares have
zone better than railroad issues
find that, with the exception OF GER
tain pet issues, railroad stocks are not in
favor In the highest circles. The rate
situation is described as vergng on the
unbearabe, while traffic congestion is
more than a possibility.
Cost of Living a Grave Problem.
Said a man to me the other day:
MY wife had to pay so cents for a
good three pounds of meat to make a
beefsteak pie, and no amount of arguing
will convince her that things in this
country are all right"
This homely incident is quoted because
it typifies a very general sentiment The
high cost of living remains one of the
most serious phases of the economic stu
alton.
Let the politicians lay stress upon their
determination to cut the tariff with a
sharp knife. The cut should not be on
the surface this time 1t should go deep
A low tariff will not cure all our ills, but
1t will help.
And suffering people will be grateful
for even modest mercies.