The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1915-02-22
GOING BACK TO
WASHINGTON IDEAS
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friction's fruit. The lesson is in the
way OF being learned.
There has recently been spread be-
fore the people of this country inn
pressive pictures Of the minds of our
financial, Industrial and philanthropic
leaders. These men were shown to be
mn, not monsters, not mere money
leeches. They manifested sympathies
and aspirations very much like our
own-if not a little better in some in
stances.
Social betterment will be fastened
thereby There wiz be less opposi-
measures even should they tend to re-
duce direct profits. T~
II George Could See.
Could Washington today survey the
nation which he SO effectively helped
to found he would doubtless see much
to grieve his paternal heart; but he
would also be cheered to note how I'M
mistakably the trend is in the right
direction.
Money in every part of the world
wants to come to the United States.
Our credit and our currency are today
the soundest on the face of the earth.
dollar, the English pound, the German
mark, the French franc, the Italian
lire and other foreign monetary to-
kenS are worth less than ever before.
1t would be worse than useless to
state that financial interests are not
concerned over --latest developments.
But the statement should be added
Immediately that the general belief
is that the United States will not be
drawn into the maelstrom.
Ours is the only free gold market
extant. In no other land could you take
an unlimited amount OF paper cur
rency to headquarters and demand and
receive gold for it without question or
cavil
International exchange rates never
before stood SO strongly in favor of the
United States as they stood last week.
Demand sterling fell to 1919, reichs
marks to "a as. francs to SIS Y !.
Italian lire to 5.67 and SO on through
out the whole foreign list.
Increase of Exports.
And the foreign selling Of American
securities has not been nearly as
heavy as was NEUTRALITY-SUSPICIOUS., of
course. quite considerable, especially
from Germany.
Our merchandise exports have
steadily increased since war was de-
clared. Dealings in Wall street both
in stocks and bonds fell off last week.
partly because of the impending sew
enty hour holiday. but mainly because
of uncertainty over the new naval con-
d1t1OnS.
Financiers hold that the admins
tration is little likely to precipitate
trouble, and that the European bell
ligerents, one and all, will maintain
the final analysis, avoid forcing the
hands OF this country.
However, the whole international
situation, commercial and diplomatic,
is novel and delicate. Hence. the dis
position at the moment is to act
Euardly in the matter OF making
commitments.
The proverbial February reaction
in stocks has not been severe. The
assimilation of stocks by small in
vestors continues a feature.
The bond market is less active than
| It was few weeks ago, but in the
absence OF untoward international
happenings the lull is not expected to
be prolonged.
General trade is better than it has
been at any time during the last six
months though the Improvement has
been spotty. However, comprehensive
efforts to accelerate recovery are now
being made, with hopes of success.
The unemployment problem is less
acute, thanks to the mf1der weather.
the partial revival Of business and the
capable, painstalking endeavors of re-
| sponsible interests to handle 1t.