Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-04-28
Business the Vital Thing.

What the prosperity Of the people of
the country more centers in. however.
than in the ups and downs Of stock ex-
change quotations-what. even from
the most technical Wall street view
point. is Of primest widespread impor-
lance. has to do with the trend of gem
eral affairs. A fair comprehensive sur
vey Of what goes on throughout the
country generally is the vital thing.
How is trade-commercially, industri-
ally? What is the agricultural out
look? What Is the sentimental dispo-
sition Of the people? And this last
matter Is Of consequence quite Al great
as the more material ones preceding
for influence inestimable bristles in
whether the public be in cheerful mood
or disposed to doubt and hesitate. 1t
isn't easy for Wall street ever to quite
grasp this fact. but over and over and
over the effectiveness of it has ruled
the Wall street tide. Wall street
could have no prettier notion than that
1t leads. that the country follows Ac-
tually Wall street. though occasionally
swapping and snarling and aggressive
ly capering around with affectation OF
all powerfulness. actually its final role
always Is to trot properly enough
along at the country's heels The sequel
comic: usually tbs tragic
Upon this account prosy records,
such ~ are coming now in the items Of
daily news. are not to be overesti-
tranic people are busy the country
over. that they are not depressed al
to the present, are showing confidenco
for the future; that crop acreage is ex-
banded and crop conditions more than
fair: that industrial enterprises are
brfsking up; that labor, despite some
sensational snarls. is getting the re-
turns 1t desires: that the merchants Of
the country land there could be no bet
ter barometer than mercantile senti-
menD are entering into a spring sea
son which they believe is destinea to
surpass any record known for a decade
All in all. the country's trade ia nro.
gressive. and 1t Is in wholesome shane
Incidentally. the banks Of the conn
try were never in filter shape. never
better able to accommodate expanding
demands IT 10 only upon the doors OF
the New York Stock Exchange that an,
croaking Is heard, and even there the
poor old ravens that so tried to he
heroic are patheucally cackling Never.
Il is urged against the safety q, ~.
market that It owes too much to q Few,
capitalists. Is too much the creature ~
manipulation directly conducted by nnan.
ciers who by sheer force have been creay.
Ing the activity and fabrcating quota
lions. As to some parts Of the marke,
there - undoubted Justice In this CRIT
icisn- But II does not apply to the mar.
ket a. q whole-not at this stage Al snv
rate: for there IL nothing clearer thar
has been coming into the market TIM nor
participation upon the part OF Outsider.
- suficient to be dominating in many 81
the most prominent issues dealt in. The
public did hold aloof throughout the ear.
Tier part Of the current development. fust
az Il had been abstaining for a counle NJ
years. II was not manipulation. not tn
mere marking up Of prices, that fInsIIy
impressed independent observers and IN.
duced the outside support now showing
the influence that has counted and IN stil
counting Is what the records OF genera
business throughout the country disclose
It becomes recognized that while Their