The sun., 1916-01-30
Review of Financial Situation
Reveals Optimistic Feeling
Developments Many Industries
and Trades-Ameca Facing 1916 With Extreme Confidence
Unemployment Record Low Ebb

ing forward to the days of peace. In
London, as elsewhere. there il a feeling
that the predicted exhaustion must come
soon.
The Allies declare themselves to he
better able to continue the war now
than they were a year ago. despite the
tremendous demands that have been
made upon the treasures OF their re-
spective countries.
There has been n change in the atti-
tude Of the English people toward the
war. At first 1t was felt that the cause
must triumph. Lord Kitchener. IT Is
true. had predicted long, hard war.
But there was such supreme confidence
in the navy and in the newly recruited
army that the man in the street felt the
strife would not be long Then came
the serious reverses and the amazing
death lists London finally awokc to the
seriousness Of the situation. And then
her doggedness showed itself. II Is this
doggedness that makes England better
able to continue the war to-day than
she was year ago. This kind OF public
sentiment can he capitalized. The honor.
safety and welfare OF the empire are at
stake. John Bull knows just what that
means.
In France there has been a readjust-
ment quite as pronounced. The people
have recovered from the first shock Of
participation in the great struggle Now
has come remarkable readjustment
that is an index to the character OF the
French people whtsh this conflict has
disclosed as hundreds of years Of her
prior history failed to do.
France. the emotional. has calmly set
about the readjustment Of her indus
trial life Where the war is not actually
raging the industries are progressing
under Government guidance. And there
has been an arrangement for economic
progress that is merely viewing the war
as one OF its conditions.
Frances victory loan has Yielded
| 100000 francs already. And the peo-
pie OF France on another occasion
/ showed that when there was an urgen,
| necessity they would give even OF their
want.
| There seems to he no limit to the pa =
| ,ience OF the taxpaying public In any Of
1 the warning countries When one studies
/ the workings Of the British income tax
! he sees what "A tremendous contribution
! To his Government the man OF wealth
or even of moderate wealth. is making.
| An interesting factor. viewed by some
! as n barometer has been the foreign ex-
/ change II has shown wide variations
during the past year. The Entente
/ Powers have made determined efforts tu
keen their exchange as near the normal
as possible. After "A thorough scare they
succeeded in making the reports more
I favorable Then followed a new depres-
sion of the Teutonc allies exchange
| This II IL expected will receive very
determined attention in the immediate
future
And now to return to survey Of tho
conditions that have obtained in this
| country:
The Stock Exchange has shown spec
tacular advances. Chief among .he
stocks that have advanced spectacularly
are those that have come to be called
war brides These are the stocks
of corporations that have secured large
contracts from the allied Governments
Perhaps the most remarkable rise has