The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1917-12-13
Where's the Money Coming From,
kInvcstmcnt Weeklv-

Investment Weekly j
The average man can think in
terms OF billions The words "a bill,
lion dollars produces an effect on his
mind very little different from tAc
words 1.-TWO billion dollars or any
other number Of billions.
But even though the statement that
next Spring the Government must Dor
row six or eight billions OF dollars more
means nothing definite to him. he very
well realizes that this is a stupendous
sum of money why he SAYS. to
himself. THAT is two or tnree times
a much as the whole amount of securi
ties, railroad and industrial aud all, AZ
Hually issued and sold Where in the
world is all the money to come from
There are more sources that the
money is going to come from than a
good many people imagine Three of
them are worth particular attention
in the first place the money is coming
through the stoppage to large extent
| of corporation issues, which Will make
| available very large sums which or
| dinarilv would have gone that way
| IN the second place, the money is com
| ing from savings on the part OF the peo-
! lAIF VI iillN t'ulilI ,. NHtGu TIT zOlUE 10
nun into larger figures than is oener-
! ally appreciated In the third place,
the money is coming from 4 fuller util-
/ ization Of bank credit than has ever
! before III this country been dreamed Of
Take the first Of these three sources
/ Of revenue. Very clear already has il
become that, while there Is bv no
1 means going to be an end 10 the -
| sue Of corporation securities. the scale
/ ON which such securities are usually
! issued is going to he greatly cut down.
| Bonds and stocks issued for necessary
| expenditures only-that is the slogan
! II doeeu t mean that when the General
! Electric company needs working CAPT
tai to carry out war orders or that
when any other company has a legiti-
mate need for money the issue OF secur-
tiles by those concerns is going 10 be
| stopped, but it does mean that wnen
this or that township or county is
thinking Of building a new automobile
road, or of putting up a new court
house the issue Of securities for that
purpose is going to hc stopped And,
rs every one at all familiar with the
investment business knows. bio pro
PORTION OF the total securities issued
every year are issued for lust such pur-
poses
All the money that would normally
Eav" gone into those securities can lac
used for the purchase OF government
bonds
Then, in the second place. there is
this question Of savings The country
IS today in a saving mood-has cot ia
, be. And by that we do not mean til,
occasional omission OF cocktail or a
cigar. People these days are disposed
to 90 very much further than that
, You will stil fluid them in the cabaret>
, along the Great Waite Way. but Won
WI! also find them putting OF indef
nItelY the purchase Of the new cal
which had been decided upon, making
: the old suit do where ordinarily IN.
new one would have been provided
Everywhere YOU see it--n your owl
nome, among the people YOU meet Ii
tAe town we live in Il man Wnose in
come i known to be not particularly
a large had new and rather eXpcnsiv,
. car standin@ III front of his house til,
other day, We heard Il couple of PEG
PIE speaking about il Oh the train
t ihcre was disposition to critics,
f him and question whether this wa.
= quite the time for him to have bouohr
a new ear.
Cars and cocktails and cigars are OF
i cour>a. not the only things. In tn,
o home Of the right minded American cit
+ lien the thing is being carried to it.
logical conclusion The meatless ia,
and the wheatlc~S day are typical d
. abstinence III good many other di
r'ctions. Everywhere. even in home
where thrift and saving have been al
but unknown, thrift and saving are to
I day being practiced in food. in clothes
2 III amusemrnts. in a thousand other di
1 ctiCsS.
Then, thirdly, bank credit is being
utilized by the average citizen a. nsve
before. People who have never beer
E. III bank in their lives are going int,