Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-05-19
will last well into, if not throughout,
the coming summer.
Money Is Easier. "

will last well into, if not throughout,
the coming summer.
Money Is Easier.
Indications point to prolonged ease
in money, at least, until the crop de-
mands begin next autumn. Dull bust
ness is, of course, the explanation of
this condition. Considerable gold en-
ports are anticipated. Yet there is
no expectation that these will have
any important effect upon the local
monetary situation, for this country
has plenty CT gold to spare for meet
ing IIurope's needs, the effect OF
which indirectly will be beneficial to
ourselves. The gold movement will
be somewhat facilitated by the
course of foreign exchange. Imports
are increasing, under the new tariff
schedules, and this will tend to dim
iEish our customary excess. So that,
apart from European necessities, we
would be apt to send gold at this
time, especially as money commands
better rates in Europe than here.
Europe Antagonistic.
This market has had to contend
during the past week against an un-
favorable European situation. The
financial strain in Paris and Berlin,
which first developed with the Bal
kan war, has evidently not yet cul-
minated. Recently it has been agra
waited by the losses incurred in Era
lillian, South American and Mexican
securities, while the growth of the
socialistic vote in the French cleo
tons has deepened the general de-
preston. On the other hand the fin
ancial embarrassments in London
have been successfully tided over and
there is a decidedly more hopeful
feeling at that center. European ma.
tiOns have revived their scramble for
gold upon a somewhat unexpected
scale. The twelve great banks OF
Europe now hold nearly $3,000,0OO,O 900
Of gold, or about 100000 more
than a year ago. The causes for this
accumulation are not clearly made
known, though apparently due to the
worldwide prevalence of distrust.
The Bank of England has not as yet
reinforced it's reserves to any extent,
and may be expected to be more &C
tive in the competition for the pre-
ciOus metal.
Satisfactory Conditions.
AT home the most unsatisfactory
feature is the prevailing lack of con-
iidence, due to very familiar political
and the unreasoning, IL
not vndictive, antipathy towards bust
ness enterprise. This is a state of
mind which will have to exhaust it.
self. Apparently the end is not yet in
sight, because the dislemper is being
actively famed for political reasons.
Nevertheless, faith in human nature,
SO jCT second thought and average
common sense strengthen the bellies
that the present spell must soon run
it's course and that reason and justice
in the end will prevail.
Stood Heavy Strain.
Already there are signs of incipi-
cnt reaction. The local market stood
the recent strain we'll Many Shares
are now selling under the low point
Of November, 1912. 1t would seem as
if the worst had been amply discount.
ed. Should we keep out of trouble
with Mexico; should the railroads re-
ceive fair play, and should the crops
approach anything near their present
promise, we may look for at least a
partial revival of confidence and bust
ness activity. Already there are symp-
toms OF coming turn for the better
in the iron trade. Nevertheless, pru-
le2ce is still advisable, particularly
until the Mexican situation begins toI
clear. Our president should have ev-
cry encouragement in his present poi
cy OF Keeping out of trouble.