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

The liquidation in the stock market in
1871; was apparently thorough without
being panirky. Trade and industry III
turn showed symptoms of an ORDERLY
retreat rather than of Il p~rccip.ta,c
fight. and since the improved feeling
noted in the latter weeks Of l9l., set III
less j. heard Of rumors Of business trou
blcS i'm this and other cites. The rom.
rlrtc history of the 1902 mi0 collapse
and quick revival. some 81 whose carli
CT happenings were closely paralcllcd in
1913. will repay peruSal because hold
ing some lessons and indeed some en-
couraecmentS. II H. generally conceded
that while the entry of industry into
the stock market ia 4 capitalized form
has made IL more sensitive 10 unfavor
able happenings. il has also made il
quicker Ia respond later "a improving
influences. The best Judgment seems t.
support the view that money. the great
dr>idcratum in finance aud trade. will
he both cheaper aud easier tn obtain in
1911 than ia 1919. The passage Of the
currency Till is expected % bc an aid
In this respect. whatevcl may be- thought
nf ultimate effects Of the pOSS bile inila-
ton feature of the new measure. which
AhN NHl1tinA'i ~ NfltNu~lN ftltflsNf
system. OF course. any i'll considered
rise like that Of i>9,. with L. aftermath
If deep depression. il Ia bc avoided. aud
the possibilities Of Europe ~cndcavorine
to further liqu.datc its burdens in Am
crlcan markets are 10 hc considered in
this connection. though our immense
credit balance may help uS i'm this res
pcct. Money however. should be plenty.
for legitimate trade and industry in
1911. and the absence of hurdenSomc
stocks. owing To- long continued hand
"a mouth buying. should be- helpful. Ii
will not he forgotten that many crop>
were short ia 1919. and prices. which
may have helped agriculture ~ u whole.
though no country ever made much mon
~ out Of its own crop shortages A to
1911 crop conditions. it may hc said that
said condiii ions are favorable and winter
wheat j. i'm excellent shape. The matter
az poSSihlr railway rate ardvaHce> press
= for early solution. All of the advances
asked for IN past wears would have been
insufficient To save some badly managed
enterprises from the effects of their own
sins. I'm. the Justice. indeed the absolute
necessity. of ALLOW NJ the RAILWAYS "a
rccoup themselves for high cost 81 opera
tion can hardy he denied. In this mat
ter the aucuricS 40 the outset of the
wear are though favorable. and il they
prove 80 should have IN important 81
feet in stimulating demand for q var.
ictv Of art clcS which move through the
martS II trade. Whether any great liqui.
dation ia commodity prices y possible
in 1911 j. doubtful. and without that
the often predicted liquidation Of labor
seems Ia pariake 20 The nature of n
dream. High costs Of al operation. IN
fact. seem To have come to Stv. but il
does seem possible L. make progress ia
the matter of reducing the worlds most
useless expenditure that for ornaments.
Time viii. perhaps. ~ needed "a heal the
bruises: they were hardly deep seated
iniur g. that the business world rcceiv.
cd Ia 1919. hut past experience would
seem to indicate that. lacking any serious
damage 10 the business fahr.c. 81 which
there are no really tangible signs. a rom
parat'v elv quick revival from the COY.
crncd. ~ course. ~ the money and croi
developments of 1911.