New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-27
REVIEW AND DIGEST
Stock Market Shows Improve
ment During the Week.
THE CURRENCY QUESTION
Affairs in Mexico-Judge Gary's
View of Conditions-The Money
Market-General Trade.

moro favorable turn so far as outward
appearances indicated the actual move
n,ent in money and business. but in
others the trend seemed to be in the
orroeite direction. The stock market,
Tor instance. made sudden recovery
from, its continuous decline Of a week
or moro and on Tuesday prices rose
sharply throughout the list led oy
1-,;.od states Steel and Canadian Pa :
c,Ac The rise did not follow any spe-
oiorv favorable developments, but the
.,,rr seemed 10 be invited by large
short interest that provided technical
.;.ro,ior favorable to an upward move
,,ert Trading during the latter days
or the week exhibited an easier ten
dorcv following the upturn, but inc
,,rdortone remained fairly firm ana
had il not been for some international
davelonments the technical position OF
the market appeared to warrant hlgher
prices.
Currency legislation as reporteu
from Washington assumed line OIL
progress more favorable to the welfare
Of the financial interests OF the cou''
trv directly. and in turn to TRACE anu
industrial prospects.
A striking proof of the lack of under
standing of the currency question Is
shown in the efforts of the Chamber
of Commerce OF the United States OF
America to obtain from its various or
carnations a national business opinion
on the several parts of the owen GLASS
nronosed measure. In commenting on
the fact that only Al per cent or the
membership organizations was hearu
from in reply to the inquiries sent out
nv the national Chamber of Commerce,
the Nations Business published ny
the national organization, says IL Is
cause of deep regret that so few COM
paratively were heard from on the sub
ject.
Although this editorial comment at
tributes the failure of members to re-
ply to political and other reasons as
matter Of fact the comparatively FEW
replies is not strange, as not only nave
the business men Of the country an In
definite idea of the currency bill and It's
probable effect on the country, but
leading bankers of the country are not
a unit in their estimate of the bill. In
all questions of public discussion which
offer a broad range for the introduction
of theory there must necessarily de-
velop extreme views. and the currency
problem has been no exception. ADDED
TO the wide variance of ideas has been
sectional and political prejudices, so al
together the question is carrying sew
eral burdens. A plan outlined during
the week by Frank A. Vanderlip, presi-
dent of the National City Bank of New
York, apparently has more nearly met
the approval of bankers and the ext
gencies Of politics and economics than
any other measure in its entirety so
far proposed. Mr.. Vanderlip has taken
into consideration the governments
side of the question as well as the
bankers. and he has endeavored TO
bridge the chasm which has kept the
bankers and the administra ton apart.
President Wilson, however, has not
favored Mr.. Vanderlip's plan, accord
ing to reports, and still clings TO the
general specifications of the Owens
Glass measure, insisting that that bill
is good enough for him. The President
does not object to certain amendments,
so there is yet hope that by the time
the measure has gone through the
process of numerous revisions it will
come out shorn of its impediments and
will perform the functions Of easement
in the money market its promoters in
tended.
The cloud that now looms up most
threateningly on the horizon is Mexico.
Just how far the United States has be-
come involved in its diplomatic rela-
tions with Mexico is a question which
is interesting to the public at the pres
ent time. 1t may be assumed that the
whole affair will be Strengthened out In
the course Of time, although in the in
term the nerve centres of the country
may be given few shocks.
At the present time. however the sit
uation In Mexico has reached about its
worst point. Industry has practically
ceased, mines have been closed owing
to their inability to obtain supplies,
and agricultural pursuits are no longer
in evidence. A summary of conditions
appeared in the October issue Of the
Atlantic Monthly" written by a men,
Der of the staff of the Mexican Her
aid" One paragraph is here published
THE truth is that Mexico's greatest
misfortune is that she adopted a con-
stitution unsuited to her needs and to
the genius and character of her people
The instrument in question dates from
the year 1857. when feeling ran high
between Clericals and Liberals. The
latter, having for the time the upper
hand and admiring the greatness of
the United States, but lacking philo-
sophical insight into the causes of that
greatness, patterned the new Mexican
constitution very largely ON the Con-