The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-12-31
Business and Finances
Byw S. cousins. Editor The American Banker

have on day-to-day trading in Ameri-
can securities, and, necessarily, in
turn upon commissions 1t appears
safe to assume, however, that the plan
will be carried to a conclusion, and
that funds will become available as
needed to preserve the stability of
sterling exchange in New York This
is feature that can we'll have bear
ing upon the American money situa-
ton, as its purpose is to deposit the
bonds and stocks thus requisitioned
as security for loans from American
banks Bank loans in New York are
fully a billion dollars in excess of
what they were a year ago, a not
inconsiderable part of this excess rep
resenting loans based upon securities
returned from abroad Should trade
improvement become general, it could
we'll mean in connection with further
borrowing a much more active money
market than recently has existed.
General Prosperity Takes Command.
General Prosperity has taken su-
preme command of the American peo-
pie and completely and finally super
seeded General Depression who has
taken to the woods, once and for all.
The change which has been sweeping
over the country began to be appar-
ent last summer, and has grown
steadily in intensity and universally
from that day to the present. In this
progressive transition, however, the
climax was not reached until the
Christmas holidays, which have been
marked by the greatest activity in
every part of the country.
People are making more money,
| spending more money. and saving
more money than ever before; and
manufacturers, wholesalers, retailers
and the savings banks are reaping
larger harvests than heretofore. Not
only the City of New York but all the
centres of population throughout the
country are feeling the touch of the
new inspiration. Dealers are able to
keep up with the demand for goods
only by eleventh-hour rush orders for
new stock which is snapped up by
eager buyers Immediately upon its
arrival.
The present trade is not merely a
| demand for staple goods and neces-
of commodities has touched the high
|
| to luxuries which consumers willingly
| go without when there are reasons for
| economy
What gives particular emphasis to
| this point are the record sales OF
pianos and automobiles Dealers re-
port rs per cent advance on any pre-
vious year and the sales are not for
Christmas delivery but are Christmas
| Iols IL Al -
time. 1t was supposed that the sales
of monographs and talking machines
would interfere with the sales OF
pianos but this has not been the case.
What is particularly remarkable is
the large demand for the more ex-
pensive player and grand pianos indi-
eating marked advancement in this
class of trade, as we'll as in the ability
of the people to purchase a higher
priced article. Nowadays few people
buy pianos merely but insist upon a
player piano, showing that this revo-
luton in musical instruments has
come to stay, and that the old-time
piano merely is thing of the past
1t is gratifying to observe that the
present briskness of trade is not ar
outburst of nationwide extravaganza
but merely a rational desire on the
part of the great body of the people
to indulge in those things which they
can we'll afford, and which are not Z
reflex of flushed times to be followed
by an inevitable period of depression
The present boom will not cease with
the European War but will continue
indefinitely and extend far beyond thu
period of the restoration of peace.
w. S. COUSINS,
Editor. The American Banker