Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1913-11-28
Dusinsss &C Home and Abroad.
: From the Springfield Republican.

An eminent .EnGlloh financial authority.
arriving In this country last week. stated
that his present visit was FOR the pur.
pose Of aycertaining how far III condl-
maintenance OF world property. or rath-
er how far they will contribute to prevent
extreme trade depression the world over
His theory Z that e :omewhat severe
be inevitable" because after the long
period Of excellent credit in which tho
younger countries Of the world have been
their development. there has been sinoe
the Balkan war began over increasing DIFF
nculty In obtaining loans Of capital needed
struction ali over the world; ana il has
boon almost impossible to obtain new cap-
ital for new work"
The visitor VIII nnd SINS OF bushes
abroad. It II rather hard to obtain now
capital. as the railroads can testify.
There 10 some construction placed on bl.1i-
and speculation by the institutions that
deal In credit. Our banlk clearings are, In
the aggregate. running somewhat leDs
In New York as we'll az in London. Val
ues OF securities on the London stock ex-
change in October shrunk nearly e9oo.ooo-
900. in the asgregate, ,,! after 2 moderate
was had In New Fork; The past month
was very dun In Speculation, the number
OF shares traded being only about half the
smallest in : dozen years. America II af-
fected az Europe n the younger and less
developed countries arc by the high price
Of capital or credit: a country IKE BTasil.
treme speculation IN the period OF easy
credit, IL now on the verE Of . serious
crisis. and India shows similar signs OF in-
Alter the exhaustion Of the surplus Of
capital IN financing the Balkan waf. and
With Mexico now on the brink OF default
Evolutionary disorders. European money
markets remain cautious concerning for
eien Investments and b kereat stata
banks compete .teads!y 1Gr eoId. Ths
rom London $2.00o.0oe In g0ld caused the
report that tho Bank OF England might
raise it, minimum discount rate toss pr
try. The discount rate OF the German I'm
per1al bank was dropped last week from
5 to 81 per cent, but. Bsrlin's internetlopel
|importahcs = ,a not 20 &c mR.Tsd rv Nth
on Friday reached 10 per cent in New
York. the highest Of the year. With No ade.
quate explanations In sight, unless it wers
ments: nj time money rates for the week
were higher. The possibility OF United
States Intervention in Mexico may disturb
the markets more than is generally real.
ICED.
The foreign visitor coming here to study
American conditions brings with him ado.
quate. knowledge of worldwide infldencea
on credit. and also a full appreciation Of
the disturbing International effect Of the
Mexican crisis. But he will have his at-
tention sharply called to conditions pc.
culiarly American. Most conspicuous In
the public mind mt present, perhaps. u oul
new tariff. now q month old. With TIN
cost of credit high q with the genera.
costs of doing business undiminished. the
new tariff has precipitated what may best
be described az q struggle between the
country for the control Of prices. Con-
sumers OF all CLASSES want " pricea
and they. arc sin b leverage Of the
force prices down. Their method appear
to be. thus far. not actual tmportatlons OF
goods from abroad-fOr In no line, cor.
tainly not In iron and steel. have iMpor-
tatiOns a. q result OF the new tariff be.
come Z factor In the trade situation. But
the threat of i~mportati0ns wherever pos.
sible to drive home prices down.