The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1918-03-13
Financial Review for Week Ending March 8

In financial circles "a degree ~ CON
fidcncc SIN Be- hcing reflected 10y the
market for securities. a feature al
the more remarkable wncu We cuu-
slider the epuch-marktug events assn.
co. cirtcd with the great war winch are
ut almost daily occurrence. The ca
PLANTATION uf what on the surface
might appear u puraduN rs not ditti-
cult to- uncover. Admittedly serious
as Is the immediate outlook, there
has not been one moment when
doubts have been entertained serious.
T. as to the final result of the war
We are approaching with confidence
the new military campaign which
must develop with the spring We
know that We ourselves are from
now on 60 participate In The sacrifice
at Ike which is the inevitable CON
cuuitaut ct war and which unfoT-
tunutely IS so necessary for the pro-
lection of freedom e thought and
action aud Tor the preservation ci "a
tree ana enlightened republic. Hut
there vii be no faltcriuE. no turning
back and there can be but one rec
suit the overthrow of the dcspo,ic
aud autocratic caste which - insid-
iously b. trying 60 cnslayc the world
We did not enter the war Tor selfish
gain, wc have none hut the lofticst
motives In cndcayurinE to bring The
struggle 10 q prompt u victorious
close. At the same time It is obvious
that the result, ut the war inevitably
viii provide benefits Of u material
character. Before our own partiripa.
ton We had already n%ruJdcucd out.
our more local viewpoint had given
place Co ouc uf the widest iutcrua-
tiuualism We had paid back to our
foreign creditors the debts incurred
tur the rapid development of our
country. our foreign trade with
neutral q, wei is ~hcllircrcut cuuu
tries had Increased Il leaps and
bounds. Dollar ,NchauEr Wa rapidly
being substituted tor sterling cN-
change and We we're Boo FIRST place ,.
the world'o bankers Al TINS was "a
mere foundation for what D. happen
iue since We uursclycs were forced tu
'ccumc a ]bcllirercut We now ar,
building ships ON such 10 scale Js Goo
ensure TINT The American flag Will.
with peace, once again bc seen ON 400
the seven seas we are loaulug bill
lions to the countries with whom W.
ARE now associated in the wan These
billions IN TACT represent Investment
ct Gus people Tor the are the pro
Dc.dr of our own liberty bonds. which
our treasury iu turn D. luauiuE az the
same rates u itself b. paying for thu
funds The government. to whom wc
Gre loauur are placing with our
treasury bonds at their own. identical
300 maturity and iutctrt with our.
These they guarantee 20 pay priu,i.
ItI AMI interest The real net result,
% vii hc observed. r. that our people
Hrc becoming Ncstuts CON "a scale Doe.
tuud the most optimistic dreams of
U1 moro than five years ago iustrnd
uf sending Interest ana ulviGrud uuy-
u,ut tu creditors Ih, oud the rr-
verse uu a. larrols Increased suulu
VII now hcl tho ra-" This phH.c WI.
expand the longer 'nr war lasts Dt
great Importance Is tur il,t that uuI
people viii have NOR, generals
learned iu q practical way the trt ut
st,iup such as would have nrr..
possible iu mo- other wa, This is u
chang, for the better that o., mull-
MENTAL
Thrsc are mai Few OF tho more
practical benefits which We may CON.
fidcHtly expect the var tu produce.
beyond them ls the more sentimental
feature iu the form of the whole.
hearted and liberal manner m winch
We AVE undertaken To- exert uur m.I
power az a time which We have, br-
cause out allies had suffered so freely
from tho priv1tiuns aud 30 many dis.
i-tcrs of more than thtr, Years Of the
@ficrccst conflict tho world has over
seen Throughout tho world Tho Uni
ted states VIII Doe known aud re-
spcctcd FAR iu excess ~ any proyiou.
possibility
such a view hardly can Tail O" rom.
rtitutc q factor which viii remain
Eroatcr ultimate value Tor sccuritic.
of corporations responsible ror su
large o. measure of our national ace
tvitics. ltut this view is q long
range onr Immediate market move
mcuts wtn Ice subject 10 factors
whose Influence b. closer Early in
April the third war loan viii bee offer
ed furmuiN hs Scclrctury McAduu. Us
uNlct terms have not been announced
officially, but there seems mo- reason
fu doubt that the rate viii Ice I l-2
per cent ln the meantime $4,000 d
900. 600 of treasury certificates of in-
dchtcducs-. issued Ia anticipation ui
The loan. viii have ben patrioticaIlv
taken by the banks at the country ON
the seorctnry's invitation These are
Intended to be turned la la payment