Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-11-19
TRADE NOT BASED
ON POLITICS NOW
Wall Street May Not Like EIec-
ton Results, But
Keeps Busy.
TOO MUCH MONEY SPENT


course OF the stock and investment
markets In recent weeks is conclusive
evidence of the fact that economic.
and not political, considerations are
expected to be the controlling factors
in determining the business policies
of the nation. While it is true that
Wall street has been surprised at. and
disappointed over, the results OF the
national election, 1t is evident that
these sentiments are not shared by
any large section of the country; and
that business men, irrespective of po-
litical preferences. are confidently pre-
pairing for the commercial expansion
which has not by any means reached
its zenith.
It may, therefore. be accepted as
conclusive that the TREMENDOUS strio es
made by American export trade in the
newly cultivated markets of the world,
and the domestic problems connected
therewith-such as the scarcity OF Ia
Dor and the increased cost of living
will more clearly affect the course
of business than popular concern over
the complexion and policies or the
next Congress, or even the occupant
Of the White House. Least OF All
does wall street allow itself to be-
come agitated over political contro-
versies, especially when the volume
Of business which 1t is handling Is
exceeding all past performances, ana
new high price records are made SO
often that they cease to become
matter of comment.
Facing Test Of Prosperity.
One unfortunate phase of the bust
ness situation is tho lack of conserva-
ton which Is being shown In many
operations, especially those which in
volve the capital and the capacities OF
inexperienced investors and operators
We are now facing the test of pros
perity-a test which in the long run is
more severe than that OF aover s;n.d
The history Of nations has emphasized
the fact that prosperity has been
greater menace to national existence
than adversely. Quick prosperity. In
many instances. has led to unoridled
righteousness which, in turn. has has.
tened the decay and ultimate fall OF
the strongest Of national units. Some
people are wondering II the present
wall against the high cost OF living
is not In reality the cost OF nigh living
or the i1sistence upon luxurious ex,
travagante which Is as uneconomicai
as 1t is dissatisfytng.
Economists have succeeded in prov
ing that In q large degree the rise In
prices Is co., que nd 70 the the
sion OF bank credit But this Is only
partly true. for another great FACTOR IS
our method of living. and the remedy
lies in our own hands.
Spending Money Madly.
AS one economist says: This condi-
ton is true on whatever plane you please
to test it-true to the banker. the mer-
chant the professor, the skilled artisan
and the day laborer. We are all con-
Stunning more goods than ever before
and complaining all the time OF the
price There Is nobody who could not
do very we'll with little less and y
everybody reduced expenditures ~ per
cent you would see halt In the rise OF
''What we complain of really is the
cost Of increasing luxury. We are spend
ing money madly. We are producing
more. consuming more and saving Al
into debt unawafes because 1t is SO easy
to borrow. It ID easier to borrow than
to pay It is easier to sell than to buy:
1t 10 always 20 in times OF great ano
sudden prosperity; but let US s.uay ene
problem whore 1t begins and stop con-
cealing from ourselves our own reckless
sxtravagance by using abstruse econom-
&c terms to explain phenomena TOT
which we are all individually to blame
Record Price for Copper.
Electrolytic copper for delivery this
year sold during the current week at
SAX cents per pound. This Is the high
est price yet established for copper and
compares with An average Of IA cents
per pound for thirty years prior to the
outbreak Of the European war. While
call on US by the European hghting
nations. 1t must be remembered that
the domestic consumption Of copper
has reached enormous proportions.
A feature Of the metal market II tho