The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1914-01-11
BUSINESS IN 1st4.

1
sentative population in greater New
York. makes the following very inter
osting and thoroughly satisfying de
auctions:
A sane and sober ontanism is the
dominant note in the t'1Ge forecasts
OF bankers and business men publish
ed in the Annual Fin latial Section
of the Times YESTERDAY That spirit
Is far more satisfying sugury for the
business year than the Doom" prophe-
cies that spring from needless buoy
ancy OF temperament. The men who
spoke through the Times yesterdag
have knowledge og facts and conditions
their opinions are reasoned out; and
although their points ~ observation
are widely separated, covering the
Cntire country, there is remark
able unanimity in their views.
In the first place, the business year
1919 was not bad one. The volume
OF domestic production aId exchange
was very large and our enormous for
eign trade left us ia sofable balance
Of $642, 10000 It was q dull year on
the Stock Exchange, the dullest since
A97 but in the saner registers of
trade activity the recort5 showed eX
pansion. Undoubtedly ,.tal was ac-
eunulatcd In the past year, and as
SIR George NJ Reyn0idi Of hicago
points out, lack Of liq, d capital Is
the feature the world tAer." All the
bankers whose opinions Aere publish
I'd yesterday agree that the banks
are in a sound condition /. There have
Deen. perhaps, too many renewals in
the Northwest due to The carrying"
of farm products, but wren the prod
ucts come to market these viii be
liqudatea There Is no everextension
one of the most promising conditions
revealed Is the temper Of the bank.
ers. They are giving couusels of eau.
ton and conservatism, they are dis
posed to keep banking resources well
in hand. Judge Gary giyee the same
counsel to the steel corporation and
its subsidiaries, that resources Of
cash should be conserved against the
possibility Of continuing depression In
the trade. This policy FOR great cor.
porations and for bank, Is about the
best basis OF optimism. 1t acts as a
safeguard against presaature expan-
sion and assures the comfortable fl
nancing of the greater volume of trade
Which the year promises to bring.
upon two matters of great moment
the men of business ID OF finance
whose views were expr ssed in The
fimes yesterday are abs, lutely agreed
aud what they had to say Is signiii-
cant. They arc unanin GUS in this
belief that the approval Of increased
freight rates is essential Tor the pros
perity OF the railroads. and SO for that
ol the country. They must be al
lowed to earn money IN order to es-
tablish credit on w1'sh TO borrow
money" said Mr, Thos. II, West, of
the Union Trust company of ST. Louis,
and that Is the opinion of every can
did person competent to fern an npin'
ion on the subject But the opinions
of the alibiters OF the fundamental
question are not yet kaown.
The second POINT OF agreement is
the currency and banking act 1t yill
work we'll il viii be a shield against
currency famine and Gedit tension,
II viii be boon To the country, pro
yided and on that all depends pro
vided the president appoints fit and
competent men To the f1ieral reserve
board Probably no at he has yot
to perform is the suble,,s of SO much
antecedent anxiety The trusts. they
have laid down their arms; the tar.
lfi Is settled and lamentations have
ceased The president has yet to pick
thu men who will virtually control the
the oountryAs banking system, AMI
returning confidence would be adyanc
cd aud confirmed by wiac selections
We have the new banking system
We have sure resource N our power
to take gold from l.ondon IL we need
II, There need be no lear about the
money to tinance the gteater volume
OF business There rs no longer any
very lively fear of WI shngton. II