Las Vegas optic., 1914-09-28
BUSINESS OF The
COUNTRY IS
BETTER
GREAT IMPROVEMENT is NOTED
LAST WEEK BY NEW YORK
FINANCIER

gers, the tendency of financial and
commercial affairs inclines toward i'm
provement Each week shows some
progress in the efforts for business re-
sumption. Since it is facts that count,
some of the facts of improvement are
herewith cited:
The successful placing of the $780,
600, 900 New York City loan
Formation of the $1OO,OO0,00O, 900
gold pool, New York contributing $45,-
1G1 900 and Chicago s16,OOO,OOO.
Decided improvement in foreign ex-
change situation.
Surprising increase in strength OF
Bank of England.
Indications that reopening OF Lon
don and New York Stock Exchanges
will be earlier than at one time ex-
pected.
The English moratorium will end
November a. and will be partially cur
tailed on October a.
Prospect of early resumption of
New York Cotton Exchange.
There is a very gratifying recovery
in our export trade.
The disposition of the federal gov
ernment to aid in every legitimate
manner a resumption of business is
more marked.
The application of the railroads for
for a 5 per cent advance is receiving
widespread approval.
A decrease is reported in the num-
Der of idle cars,
Of course it is folly to ignore the
fact that the business situation is still
enduring extraordinary strain; and
the future continues to demand great
prudence and self-restraint. Any vio-
lent outbreak of speculation, either
for the rise or fall, would probably in
vite unfavorable consequences. Even
in the United States liquidation is
still incomplete, as shown by the de-
cliring tendency of high grade bonds,
cotton, steel products and many other
con. modities 1t must be universally
recognized that there has been Sc
riCus impairment of the worlds buy
ing power, not only in Europe, where
7 the rage of war is devasting property
and life beyond imagination but in
the United States, the most important
nf ton where the consequent break
down of credit and the arrangement
: of our foreign trade has placed severe
restrictions upon regular trade and
imposed an almost complete embargo
> upon all forms of new enterprise. Al
the same time the present blockade
of financial and industrial activity can
not last. Much depends upon the
course of the war. The more promptly
/, that horrible struggle ends, the more
prompt will be the general recovery
But no substantial peace plans are il
/. Isight. Apparently nothing but ex
i, haustion will bring the contest to al
end, and as that means collapse o
some of the most powerful and pro
gressive countries which the worlt
has ever seen, such catastrophe will
exercise a depressing influence TO
many months, if not years to come. o.
the other hand, it is quite possible t
II exaggerate the harmful effects of thi
~ war, especially in the present depres
sed mental atmosphere of the entir
world. The loss of life, the destrut
tion of property and the wasteful e,
l. penditures of war are only too we
understood Nevertheless, the cost
of armed peace have been so terrific
ally high during the past decade tha
)r one of the certain effects of the wa
v viii be to greatly reduce the annui
rt bills for militarism which have bee
if estimated at about $1,000, 100000
Id year for the five great nations now {
war If these expenses could be r
u duced one-half, it would greatly faci
late the payment of the war del
e. which posterity will have to meet, ar
ul aisc permit an earlier resumption
We enterprise through the lessened was
is of capital and savings. Moreove
ell many international disputes whit
have kept nations at loggerheads +
or years will unquestionably be settle
sr- in the forthcoming peace negotiation
rs and so remove some of the eleinen
lis of international friction which crea
st the war spirit. In all probability E
gh rope viii enter a period of prolong,
IT, peace after the present contest
he ended.
'rt At home the financial situation
ed gradually clearing Many deliGa
-