The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-05-10
AFFAIRS Of MARKET
IN SPLENDID .0ROER
Never Has American Finance Been So
solidly. Based On Sound
FOundafions.
CONDITION OF HARDY F1rNEss
Financial and Business Preparedness
Is Adequate to Amy Strain That Can
h he Thrown on American Resources.

New York, May e.-The Sun to-
morrow, lin It's financial review. will
say:
There are in these sombre hours in
the life OF the American nation other
and far more significant things to
think about than the questions of buy
ing and selling and getting gains with
which Wall Street Is supposed always
to be chiefly concerned Nor is Wall
Streets preoccupatfon with finance
and business ever entire and exclusive.
Nothing touches humanity which is
alien to 1t, and Wall Street activities
Will not fail to reflect the solemn
gravity of the pending decisions which
the nation has to make as to the part
which 1t will take In shaping the
destinies OF mankind.
Yet 1t cannot be other than encour-
aging to the American people to know
that, so far as competent judges can
determine. current anxieties need not
be aggravated by uneasiness over the
financial and business situation.
Market Is Ready.
Never have the affairs of the mar
ketplace been in better order. Never
has American finance been SO solidly
based on sound foundations. Never
have trade and industry, including
agriculture and mining. manufacture
and commerce, been, when a critical
occasion has developed. In 20 healthy
a state. Regarding the United States
as one great economic enterprise. st ia
a condition of hardy fitness, and our
finai-cial and business preparedness
for any ordeal of the times La adequate
to any strain which can be thrown
on American resources.
/ There have been periods Of crisis
which have caught us unready, with
values inflated. volumes Unfortunately
expanded, and credit dangerously
overextended, but there has been no
other critical iuncture so great which
found US as now in the early stages OF
recovery from hard times and with
our strength renewed for the achieve
ment OF a restored prosperity.
Our economic chronicle from 1907
until the middle OF last year consti-
tutes a record % increasing contrac-
ton and depression. When the Euro
pean war broke out ii added the
finishing touches to a process which
was eliminating elements OF weakness
from the financial and business struc-
ture. The way In which the shock
and strain OF the last Ave months OF
1904 were endured testiies to the
fundamental stability of our banking
and business community.
Shows Steady Gains.
Once the rebound from the terrific
blow of the European war set In the
country began to make steady and fr-
resistible gains in strength In every d.
rection. All the world has had to
come here not only for war supplies,
but for the supplies of peace. We
have become the worlds market, not
only for goods and commodities, but
for credit. and be 1t noted that from
this reckoning Germany and Austria
are excepted.
This week viii provide further tests
of our financial and business edthce.
and the stock market will be deserved
ly an object of close and widespread
attention. Everything which has q
bearing on values communicates itself
instantly to the Stock Exchange and
the Wall Street share list ss at all
times a measure of the ceuntry's eco
nomic situation, the gauge OF its pros
poets. and fairly trustworthy index
of public sentiment, especially when
matters of great moment are upper
most In the public mind.
Whatever immediate uncertainties
there may be in the settlement Of the
momehtouS ISSUES .iaA
now raised for us. whatever turn event
and national policy may take, n rs
not at all unlikely that there Will pc
a renewal OF weakness in quoted
values. But unless validity no longer
attaches to the conclusions formed by
our most competent men OF affairs. the
stock market will right itself under
any storm which strikes IT II Ina
worst happier which can happen IN
our international relations: II cireum-
stances lead the country INTO war IN
a just cause. 1t Is more tnan reason
able conjecture that the Stock Elk
change will give proof OF the Strength
which the American business and