The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-12
FINANCIAL REVIEW
OF The PAST WEEK
Political Influences Have Now
Become Of Almost Para
mount Importance.
WHAT BUSINESS NEEDS
Worldwide Relaxation in the
Money Market Has
Clearly Begun.
WHAT BUSINESS NEEDS

Win crcuit relaxing rapidly IN the
worlds money market, one of the essential
conditions OF recoverv IN busins.. voi,,yn..
"a ,..,,,.. 4. ......, W.
49, "e .'shs VI
easo wh'ch @re showhs III fuhos oorrow-
able Tor temporary purposes are an en-.
couraging confirmation Of inteiiieent ex.
pectations formed MANY v..t. ..o =. ~
a.. a.. =, -.
'"' "'s' VI ''o "os. '"'por'sh' oeVeiop-
Weh,s propapie IN 1919. IL remains TO De
seen what Ia the state Of the market for
capital, that IA. of money available for
,on~ TINA ,rr..,r,.c. r,s..s.. 4. 80.
a. ..,..., -, 80
~ '"o'' oou"'Aui suppi' '"en "ss oeen
the case Tor several years past ana
whether its poesessors have regained con.
fidence in the desira biiity Of placing n
n, ,ha 1,snos., ~ 81. ,r.r,,.. N.Y..
49,. a.
.'s 49,, Nhown we can 20 IeasonAuiy surs
&C W 'o .."".n.'.S i'hei! " assert .hem-
IL. 'I.r ,'e'o Vi ..aue anu INDUSTRY
80. 90 u. SCI '',es .. 'ne 'I,eah-
pS ''.'" 10 s4i"s " oepeHu oh poitics
Vi viz uo.i'c VARIETY.
-. n,. poi..'ca' rela'lons Hre 30
s.t'.,,, va" w we,e lear aso
as W ien'oNo them from tns
- VI .u ,,.s,,. "ow"nee
49, , .i,,,,.. "e pos.'o'' us. .ne
49,, ,,'as,.',,. ."' .H"o ~. :
cIar,.,a. L,,, q. se.. -
60. -, me-, 1851. sv.u e.'
Co., ,,,. OVERWHELMINGLY , s. ',o u'.e'
I, Co ,ho aon,a.,is -, -. ~.
10 -, $500 80. o ~
",,,,,ts ,os' eon,,rh IN most
Ill., a., p,i,,.s a.I uespa,oT n'',., ~,
hnsi,.. We. 90 ,'.n ,iaoe anu pr'.lsh
inres.ar, ar,,n,Inu. 90 rio,,a cn.a.,,sa'
part. al. ;oas ,,,a,,.. 4, ~, ~ @
of boo,d.d oa.h 80 ,h. Trass,' 49,.
,or,,". ....,' II. NIonsy
Eronch ,r,,as,or has, 49, Sn,n,..s
r,hine, c,rtro,.r.,a. "a ~ .ha ss,,,,,.
10 ..,.h,ish co,orn,o,, - 80. 49,
recognive. ,b. nr.ro.a,,,,s. "a -. ..,.,a.
~ cani,aI A. ,nat,.r. .,,n1 ahrosd rs
as.urances on poji,irai account would on
a long WAY toward ending ,hs dsa dloc,.
In the capital market between borrower,
and lenders and would provide a stimuli,
to financial activities that could only have
satisfactory outcom.s.
There can be no doubt that this 10 the
case in the United states to-day. Al
though establishments 10 the new terms
of business EFFORT have not been completed
ana aithough liquidation OF business
positions persists after the apparent ter
ihitatioh OF huuiuiition IN securities. our
country mas rhnureu III marvellous iashion
wv .a''s .'s,i , 10 an EXTRAORDINARY
49,, ~ Wv ' N" , u,nai. ncoo'npllsn-
ana",,r 'a,' IS ,.,,'s. p ,,,
b., ,,r,n.r $50 ~, %. 49, , ms
ena,,,n.n1 and axarr,,,a ac,,o,, 80 ~.
denressiny nrosnec, NJ i,s yorn,;a, M. ~
yasion of domains hitherto exci,,.ive,v
occupied bv priynt. Initiative has done
more than the actual law making Of 1sIa
to render the banking and business com
munity apprehensive OF the future. The
reconvening OF Congress this week after
the holiday recess will begin a political
period which will later be looked back
upon as a crucial time.
From Washington In the next few weeks
can enanate impulses which will send
American business forward again or fur
Their backward. The country has given
the Democratic party and the Adininistra-
ton III" benefit of every doubt so far
and IL not only prepared but disposed
10 make the best or all that II has done
20 swiftly and crudely IN the passage OF
an income tax law. the revision OF the
tarlH ana the provision or new banking
ana CURRENCY system which VIII revolu-
tionize the financial organization. Partly
as result or political change operating
on economic conditions which were out
or gear and called for worldwide read
)ustment In which this country had TO
snare. the people or the United States
see all around them to-day credits grow
Ing cheaper because there Is incres sing
idleness OF labor and increasing depres-
sion OF business. Economic affairs are
in such shape that they can become in
hn'tely worse very quickly or they can
proceed gradually 10 become perma nently
very much better. The situation 10 goinR
TO test the political wisdom OF tina par,v
which holds national power.