Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1915-01-14

TO save the world which seems TO have
lost its bearings. It II the right time
for such an example a. Mr. Wilson has
cot before us in this hist0fy-makinR
message. Can this nation rise equal q
the occasion In any case our needs
and habits will keep the wheels revol.
wing. We shall soon get over the un-
settled conditions inevitable. I'm n pro
cess Of Reorganization augmented By
the Europeen war, and settle down
hopefully 20 work out our destiny under
new conditions. We have got 70 be fed
and clothed, which fact viii keep us Of
the rocks Of idleness. While the war
ring nations are concentrating ail their
energies and resources in the prosecu-
ton of the war. the neutral nations and
themselves obliged 70 limit their actiyi-
ties and pursue the wonted course sub
ject TO the restrictions which one-half
the world nc war, necessarily creates.
Trade. industry, education, art, htera-
ture and even religion, are for q time
subordinated or wholly neglected in half
Of the civilized world. The war 10 an
enormous strain on the nations engaged
in il, and in the natural order of things,
it cannot last indefinitely. An end
should come, and should come soon.
Let us hope then that the year which
opens 90 inauspiciously with nearly all
Europe in deadly combat, will witness
at an carly day the end of this awful
war and the establishment Of q perma-
nent peace. At the beginning Of hos
tilities all the stock exchanges of the
world Immediately closed their doors,
and for four months there were no
transactions in bonds or stocks upon
the floor Of any exchange. Philadelphia
led the world in the resumption Of bus
mess by re opening the Philadelphia
Stock Exchange for the transaction Of
business under certain restrictions,
among which was a fixed minimum
price for each security, below which IL
could not be sold on the Exchange.
This example was followed by a num-
Der of smaller Exchanges in other
cities, and on December IL, 1914, by the
New York Stock Exchange. On the
9TH instnnt. the London Stock Exchange
under similar rules.
The National Banks took out 1881,
000, 600 of emergency currency in addi-
ton TO Clearing House certificates, and
up to date there il still outstanding
about $3.50, Quo, 900. The fact that the
banks could thus supply their needs and
accommodate their customers, was re-
assuring and it helped largely to pre-
serve confidence.
Financial affairs we're helped also by
the Inauguration of the federal reserve
system of banking, which reinforced
the resources Of the banks, by releasing
q large amount of reserve.
The Department of Agriculture does
its part toward making this glad New
Year, by issuing q fresh statement Of
crop production in the United States.
1t shows that the combined value of
farm products, including both crops and
animals. and animal products for 1914.
10 almost ten billion dollars. This sur
passes ell records and means q plenti-
full supply of food for the people of this
country. and n large margin TO divide
with the belligerents of Europe. who
are too busy fighting, to be able to farm
successfully.
Doubtless you will be interested to
know the individual deposits as of De-
cember 3lst of each year, since we
hoisted our flag here. are as follows