Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1914-01-08
FINANCIAL WORLD
UNEASY IN 1878
Bradstreet's Review Finds in
Past Year Resemblance to
1902 and 1903.

|
worldwide, though until the latter part
of this year not so much in evidence at
| home as abroad. Disappointment was
| teen with those who. with knowledge or
the many politico- economic domestic
problems pressing for solution, were
hopeful that the exceptionally strong po-
sition Of this country's producing and
consuming interests would render us
| partially Independent Of If not entirely
immune to, the play of the large hnan-
cial forces dominating the world I'm the
year just closed and making Tor de-
preston in finance and trade. Review Of
last years events would prove incom-
pletc If sight were lost of the many re-
'"mbances it bore to 1909 and 1909. lust
I l'h wears ago, when the so-callcd
rich mans" or silent panic" occurred
hen congestion in the securities mar
Kets was in evidence. the phrase FIN
anclal indigestion was coined. the re-
suits of much lnjudicious capitalization
Of Industries were manifcst-frst IN rn.-
Hpsing stock market prices and later in
depressed trade and Industrial Condi-
'ions-numerous strikes and bank sus-
pensions occurred. and all the usual
aftermath was presented of IN extended
financial or credit situation being read.
iusted
1t has been frequently and with Justice
said that the Balkan war and it's at
tendant evils did not cause but rather
rrccipitated and revealed the world wide
financial strain of 1918 It must with
equal justice be held that most observ-
Us failed to adequately measure and
forecast the effects, direct ana Indirect
If III, w. n.hio, .,a..i. rN.l,..
100 ,r..n.tod 49,, ta,,,a.'. 49,,
,o,, -,,,l.,,. t., 49,, -
r.r,,,,, i,,o an 80, o,,,. ,a,.,',
r,,.~d,,,,, 81 ,,,1 - ,.. :
C,,.,.,,,,,,. ,,, ..,,,
i-uroro,, .tr,,oioi a,,,, ,.,,,,,,,,i.., -.
aud In ,.oa,,,. nia.,,,.,- 'I,a,.,. -,
a,.. 49,, g., -. o..... , 49,,
or o,,,.,i. ,,.,...., -. 49,
rro,,, .',,d a,,,,,no,.,I,. .,....,,,a,.1., ,,,t.
the hostilities 30 country nrovod i'm
mune, and all folt tho strain Of an al
ready greatly overextended credit stu
alton, inability to borrow new loans and
Difficulty IN getting old issues refunded
Brazil and india, Germany and Austria,
France ana England, canada and Mex
ico, as we'll a. the United States. we're
all, hecause If our wonderful export
trade balance, cushioning the impact
upon Us Of the outer worlds forces.
once again our me1nb rshp in the fam
lily of nations brought home to us the
real interdependence Of the countries.
and when we confidently expected relief
for our own financial needs from our
enormous EXPORT balance. instead of gold
balances. we received back our own Sc
curlties. which as in other years Of gem
eral strain sold most readily i'm the
worlds markets Indeed as the result
Of three-cornered exchange operations.
wc found ourselves paving other ma
tons balances in markets whore our own
trade interests required PAYMENTS to in
stead Of disbursements hy us, of the
worlds chief circulating medium
r>-cr AVN c,,r,1r
i"e WIZ" i'''''. '"' o"''',' ""'Ne'
'"' ~ III '"' ''.' VI P''.'e''''' ""t '''o'e
vas '">N - ~ '''o
-" VI ~
az 'o' us WV ''''' - az"
=, ~, ,
!" o''o ''''oI'' '' a. "''
''
t'
Wv, ..,', wa
.,I ga ''N
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'''' ''"N' '' N'' N'' P''''' M
:" '''''N e "'''s "." W '"N' we
P'" VI ", '"' ""' NV" u''
- "' am '"" Nv N"'""
avn, ra''''V ''"NaN ''ole',
vas "''s''N'"' anu Terms "'e 's'''"
uPo" o''"'''. t!e 'e'esrap'i anu 'o'ep''oie
interests ana lhe country "a" oi"cers
v, M''''''' ''o a'o VI '"'' mus Po'"''"s
'"' way " anu CHUNG VI 'n' .'"-N
pe'''' VI marry lF s"-r"'''" "'s business
through the courts
peSP''e' however the humorous draw
'H'hS ARISING from money Sci''N an"
circuit S'raih' the uiscusSloh OF ne" eco
non"c measures IN CONGRESS the eoh''h-
"eu asH"''o" Oh ne" an" VI" Jaws "ioc'-
INK me flshts OF conoihall'h '"e lower
ing OF inc tar1n' lhe un"lu"i III some
'dn's "e"'''"l' |lei"S OF "'diI' crops t'e
very h'eh 'eNeIs OF prices OF COMMUNITIES
numerous fahur"s' heavy hapiliues ana
puFIhe OF piece with
lhal noted each year SINCE l'W'' many new
,,,,,,,. 49, r,' "''T s 80.
filed o,ders on hand which uerc at their
at the openinr of the wear
tended To decline as the spring advanced.
Money scarcity WAS in evidence from
early in the wear onward to It's close
seeking the form OF close scrutiny OF
credits rather than that of acute high