Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-03-13

disappears. Interior conditions are
also favorable 10 az least a partial re-
sumption OF business activity, for the
volume of traffic ~ still below nor
mai Merchants all over the west re-
port a more hopeful feeling and light
stocks OF goods. 30 the outlook Is for
larger purchases during the spring.
Agricultural prospects are very on.
couraging From al sections incom-
Ing adyices report The soil az In ideal
condition owing 20 favorable combi-
nations Of rain, snow and freezing.
Those IN close touch with the situa-
ton anticipate large crops and In
creased production OF AL agricultural
products which az present high price
levels means another profitable year
for farmers II Is TO be hoped that
the surplus crops In 1912 VIII be sur
Recently large to Insure somewhat
lOwer prices In order TO bring down
tho high cost OF living and sim leave
good returns TO the, farmer, arising
from larger production. Never be-
fore was the country SO much IN need
OF good crops as In 1912.
The monetary OUTLOOK Is more In
favor OF steadier thsn easier rates.
Bank reserves have been declining.
Spring requirements win soon begin
10 be felt. II Is not impossible that
F, increased commercial activity may
coincide with a broader and more
active stock market. Thus home in
fluences are on the aide OF steady
rates for money. The foreign situa-
ton Is equally SO. We have already
shipped StT.0O0.O00 gold, OF which
S10,O00,000 went TO Paris. Trade in
Europe IL active and the great Euro
pean banks, as a result OF last years
war scare. apparently consider II good
policy to strengthen their resources
This is particularly true OF Germany
whose banks showed themselves at
the time OF the Moroccan incident ut
terly unable TO meet the strain. our
loans abroad are already extensive
and German borrowings az this center
have been a feature. These condi-
lions Illustrate the growing import
ance OF New York as a world financial
center They also show the strength
OF our position when we are able g
afford SO much assistance to foreign
banking institutions. Should our OWL
necessities increase. we wofld oC
quite likely TO curtail our lending
abroad.
Politics have been less a factor IN
the stock market this week, and the
loutiook In this respect il more salts
factory. Radicallsm Ia certainly on
the wane. Nevertheless, the campaign
has not yet reached It's height and as
the political barometer viii fluctuatC
Iwidely during the next few months
the stock market cannot be expected
to wholly ignore It's developments
Investigation OF the go-called "mone,
ltrust'' may easily cause some uncasi
ness. Such an investigation unless
conducted on exceedingly conservative
lines. may be productive OF more
harm than good Wholesale attacks
upon corporate credit and private ar
fairs excepting when fully justified
fought 10 be deprecated II becomes
an interesting question az TO where
privacy ends and publicity begins. W.
are living In a period OF inquisltion
institutions rs well as individuals
have some rights 70 privacy and III
iconsidered exposure may easily invite
idisaster and spread unwarranted ais
TRUST among the ignorant.
The stock market has developed
decidedly more bouyant tone. There
- evidently stronger support ON th'
Iground that unfayOrable condition.
have been fully discounted and tina
1.-THE better tendencies noted above
Warrant increasing activity. TIT
country has had a long period OF rest
longer than Il wanted invigornte'
lhy the rest cure Il IS now doubtless
better prepared for this fresh forwar'
movement
HENRY CLEWS.