Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1914-01-03

W was world wide though until
''er part Il this year not - ,auch
fitiice al home az aLroal. DiSap.
."ni Was keen with those who.
Ni"Mic'irc Of the many pDlitico-
k"h' domestic problems pressing fol
a'h' We hope that the exceptionally
position of this cuuntr, : produc.
4" cole umlng Interests would rem.
6-1,ariially independent of. il not
iminunc 10. the PLAY AZ the large
ciai forces dom mating the world
year just cl0scd and making for
SON in finance and trade. Review
~ years events would prove incum
~ sight were lost 81 the rr>cm
e IL bore 10 1907 aud l.U., Just ten
ago. when the Spcullyd rich
or silent panic occurred. Then
stioh an the securities markets was
ihencc. the phrase Financial iHd
~ vas coined. the results of much
ieious capilaiizat un of industries
mpnifcSt- first ia %c0llap>ine stock
ct priocs and later M depressed
ND industrial conditions mum
klkcS and hank SUSPENSIONS or-
wind all the usual aftermath was
ntcd of AN EXTENDED financial or
situation being rcadiuSicd.
has been frequently and With jus
s3i tiini ;he Balkan Mar and it,
Mnt evils did not cause hut rather
pitatcd and revealed the world
financial strain of 1913. II must
equal Justice H. held thai nb>cry
Halted tn adequately measure and
nst the effects. direct aud imd rect.
he war which starting ia October.
drcnchcd the Balkans aud Euro
Turkey in blood. converted eastern
pc into an armed camp. caused
Hing Of gold ia Austria. France AMI
lany. put a practical period "a the
|.pcan financial and commercial
Il, ami III STEADILY widening the cr
reached into aud affected the financ
nd trade Of countries thousands of
b away from and apparently mn
(ectel with the host %litir>. NJ coun
proved immune. aud AL felt the
n of an already greatly o%vcrcNtcnd
ralit situation. inability 90 harrow
loans and difficulty III getting old
is refunded. Brazil and India. Ger
n and Austria. France and England
ida and Mexico. rs well aS the Uni
were affected. This country
laps. least Of all. because ~ our won
bal export trade balance. cush-mine
impact upon uS 81 the outer worlds
l.s. Once again oar membership m
family of nations brought home Ia
ne real neutrality-suspicious. of the coun
n and when we cnnfidcntly expected
IL for our own financial needs from
IcnorHous export balance. instead al
supplies paid rs ia settlement 81
70 balances. We received back cur
securities. which as ia Other wears
,cnseal strain sold most readily ~
var rs markets. Indeed. ~ 'hc result
three corncrcd exchange operations
Round ourselves paving other nations
,nccs in markets where our wi
cad Of disbursements hv A.. Of the
ld's chief circulating medium.
nc worlds Observation-Disclosures bulk
large i'm our list nf problems. but
J. was no lack If domestic concern
4, session of Congress rcmarkahlc Tor
length. two much agiiatcd and FIRE
Ill, fought over questions were iorc
IL . conclusion. The tariff was ~
In but its enactment. hN the way.
co;ncidcnt with a Shrinkagc instead
he prcdicicd enlargement ~ orr IN
/, irade. and coincidcntlN an income
49, was put in operation for the
!, Time since the civil war period The
.rsncy measure. designed 80 take the
III az an outworn and often diScrcsiii
|Y,.,em also became a law. The mon
~. Southcrn Pacific Railway mcrs
rs dissolved. and terms Wcrr agreed
L, het the telegraph ami irlr
\. interests aud the conntrN'> law ~
I without the aid nf q suit. thus
limo The way Ia an ending of the ten
n.r;od of harrying Socallcd biz bus
4 through the courts.
,a.,,;te however. the numerous draw
- arising from money scarcity aud
=, train. the discussion ~ new eco
~. measures ia Congress. he con
agitation of new and old laws ai
:., III, rights of combination. the
Ing Of the tariff. the unequal. in
- .,ses deficient yields AZ staple
- the very high levels II prizes ~
.,,oJitics. numerous failures. heavy
..,,;es aud hand To mouth buying ~
- With that noted each year Sncc
! many new records of trade volume
Industrial output were 81 M lhr
Inc AZ untitled orders on hand. which
1. n their maximum ~ the opening
n. wear tended 60 decline ~ the
advanced. Money scarcity was "a
P.,nc, from early IN the year onward
~ close. seeking the form of close
I'm, of credits rather than that of
- hich rates. which indeed were IN.
! cnnspicuouSlv absent. Much needed
.,a,, "a trade aud finance waS given
sr;tical time. earl, ia June. hN
secretary of the T%reasuryS announce
+, as 10 the possible use OF emerseH-
',rrencv and the placing If gov
,naat money in the banks ~ the sur
: crop producing arets The then
ron outlook was Of course helpful.
: '.f.ha realization of tn dr0ughts