The Bridgeport times and evening farmer. (Bridgeport, Conn.) 1918-1924, 1918-02-12
WATSON'S WEEKLY
MARKET LETTER

We, in this enlightened and liberty
loving country, have never been tIn-
pressed with the idea that great power
should be lodged in one mans hands.
Our form of government intends that
we should have the guidance through
cooperation of the best brains and
ability that the country is capable of
producing. Instead of suggesting that
more power be vested in one mans
hands let US ask that the best brains
of the Nation-and we have asb much
ability as is to be found anywhere
in the worId-shall be called upon to
assist not only in the conduct of the
war but to serve all the great inter-
ests which are now at stake. We
readily recall that 'In multitude of
counsel there is much wisdom" Nat
urally, one man takes more of one
sided view; he does not hear all sides;
he cannot hear al sides; his line of
vision is many times limited because
of the fact that all desirable informa-
ton does not reach him. This is not
a time for the assumption of power by
any one individual-we have seen to
uncomfortable a demonstration of
that in looking at Germany. A some
what similar disposition seem to be
lramifying into many circles Of finan-
,ciel and commercial administration.
The underlying tendency appears to
lbe to dictate to everybody and in
Everything. The A..-erican people like
strong leadership, but they like it well
balanced; they also like it in more
of an advisory capacity-with strong
recommendations. Just show them
the way through good practical COM
nonsense methods, and they will be
found supporting the government to
the limit of strength and length Of
their ability and pocketbooks.
Definite preparation has common
ced for the next Liberty loan. The
Treasury Department at Washington
has called upon the banks for pre-
lminary activities and the financial
district awaits the details of the pro-
posed new issue. Investment circles
hope that the rate fixed will not dis
turb existing accounts and securities.
Billions of new wealth from the crops,
the industrial output and widespread
expenditure of the proceeds of previ-
Gus Liberty Loans are expected to
stimulate subscriptions; and if the
such as the sinking of the Tuscania
the popularity of the loan may be
broader than previous issues In bank
ing circles there appears - d strong
protest against the vast powers sug-
gested for the new War Finance Cor
poration legislation. cit goes without
saying that if the powers which the
proposed War Finance bill would con-
10 Of hni
significance, the usefulness, perhaps
the solvency and undoubtedly the
business efficiency, of thousands OF
bankers and investment houses in this
country would be seriously impaired u
says a banking house. ITO jam this
bill through Congress, to organize the
corporation and to assume exclusive
Jurisdiction over business Of this char
acter would be, in effect, to stamp as
non-essential to the successful prose-
cution of the war the profession which
has heretofore made it possible for the
government to acquire without cost to
it, other than absolute expenses, over
five billions of dollars"
Peace tendencies, as expected, have
rot been productive of anything tan
gible as yet, Notwithstanding the fact
that Teutonic labor troubles recently
made public are a reflection of q
steadily growing economic pressure Of
whose ultimate action there can be nc
doubt The wealth which war des-
troys can be made up in part at leas
by an increased production Of wealth
ON the farm, in the mill and fac
tory, ever place where man tolls" say:
the New York Sun. "But wars des
truction of wealth cannot be mitiga
ted, it must be intensified, if to all thu
positive destruction on the battlefield
is added the negative destruction o.
doing little or nothing in other field
to fill up the gap of that economi
waste" In other words, time lost can
not be made up"
A speciality trading market with
waiting disposition has been experien
ced during the past week and is like
ly to continue, including tendencies to
ward reimbursement in accord with tn
requirements of the new Liberty Loan
Technical market considerations sug
gest the need of a little more strength
There is no doubt that investors ar
recovering from the state Of hysteri
into which they were thrown by tn
bull in china shop" liquidation re
Gently experienced. They are findin
many bargains around current levels
It is predicted that U. S. steel earning
during 1918 will be ample to pay lib
eral dividends. More attention is be
ing given to the possibilities of dam
mage likely to result from floods whe
the great thaw takes place this spring
The railroad freight congestion is eS
pected to be prolonged or account c