New-York tribune., 1913-07-15
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the Investor.

Tbe prospect seems 10 be Tor dedrer
,ov throughout the world during the
1T few months The continued fermen-
..,,op in the Balkans is adding to the in
.,,,,sitv OF the money situation, which has
-, growing steadily worse since the be-
ling of the year. The military party
- europe. which seems bent on continu-
A., the excitement Of war regardless of
,.orseouenccs, has reached state Of hys-
,ts which is disregarding agriculture
IA industry, especially In Austria Hun
-,,y Servia. Bulgaria. and others of the
silles who seem to be facing serious eX-
hsustiOn Of property Ia their reckless
.hondonment of peace for the sake of
,,isruided patriotism. II would be great
,leespg If an actual treaty of peace could
r. signed at once. for the belligerents are
hecoming exhausted and this continued
t,grling over the various points at inter
act will not result in good TO any of the
,arties concerned, while in the meantime
boarding will continue and economic con-
ditions must remain under a black cloud.
Money is scarce and high in both Ger
many and France. and investors cannot
hone for any Improvement abroad until
war talk has become a memory
Rob the Country Of Benefit.
In "The Financier" of July 12 an edi-
.,o-,aI states that pickering legislatures
have succeeded in upsetting normal bust
moss conditions; they can take credit to
themselves for having retarded commerce
and industry, but even though they ac-
conplish their worst the country can en-
dure the results, so long as abundant har-
vests are in sight And judging from the
tome Of the reports made by bank presi-
dents in agricultural regions. this falls
harvests In nearly every line OF produc-
,lon will be above expectation.
The men who have made them possible
will profit. but II IS rather a sad commen-
tarv that they will not make as much as
should be the case. Laws are bearing
down so heavily on the railroads that ce-
Ierity Of crop transportation is Being re-
tarded. There Is pronounced lack of rev.
enue and capital funds for extension and
eouipment. Less railroad building and
equipment means less work for industry,
and therefore less money for every human
agency concerned in productive or distrib-
utive channels. Nature makes the crops,
intelligence and hard work bring them
safely through. but Congress and unwise
legislatures rob the country Of much Of
the benefit II is time that the people OF
the United States began 10 realize this.
The Butt Of the Country.
Wall Street is held responsible for ev-
erything of a discouraging nature TO
progress that develops in this country.
one Of the leading New York City bank
ing institutions has just received letter
from a banker in small town in the Far
West in answer 10 a general letter sent
out inviting an enlargement of the New
York bank country clientele. in which
the Western banker replied that he could
not see the way clear TO make New
York connection in view of the recent
move Of Secretary McAdoo in Offering 10
back up the country with $5Oo.OGO,000 in
order 10 prevent a panic which Wall
Street had started. Il Is evident that the
campaign Of education which financial IN
terests carry on from year to year fails
10 reach far beyond the dead line Of Ful-
ton street or the waters Of the North
River The divisions in the Wall Street
district, the varied interests which con-
tribute TO the aggregate of transactions
representing an international greatness.
are lost sight Of by the outside world not
only in the distant parts of the United
States, but I'm points close 10 and in
greater New York. This is not strange
however, when the reported utterances OF
Senator's and Congressman in Washing
ton Indicate the lack of knowledge which
such men have of the true situation in
the financial section Of lower New York,
referred 10 as Wall Street.