The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1918-04-03
Financial Review for Week Ending Mar. 30

ny Henry Clcws).

ur less stringent government rules
and 20 the war is prolonged these win
be- made more severe and more rcucr-
al Sc far as economy BE- concerned
up to date 10 has been prnctiscd chicI-
~ by those who have abundance. and
least by chose who have less. The
explanation b. that the educated ana
Weather classes were in "a position To-
realize the Importance uf the great r.
sues at stake suoncr than the average
They first saw and accepted
the necessity of sacrifice In men aul
money Patriotism was uf course H
factor but that virtue Is happily not
confined 10 any class aud exists from
top to bottom. To- these situated in
the middle OF the industrial strata,
especially those with fixed income.
The possibilities OF Couom were nat
uruly very limited. About the onlv
SERIOUS evidences of extravaganza ar,
amouu those whose incomes have sud-
denly increased beyond an cNpocu,-
tions this applying equally To- an
CLASSES, except that boa cases IF the
wealthy. supertaxcs have usually re-
strained -cXtrnvagaucc. Inquiry amun-f
IA, great department stores ELECTS the
fact that their salcs of costl> luNurtc7
and expensive materials have shoWh
q considerable decrease. while saic- ~
cheap pianos. cheap autos cheap
nucr,. adoruments, etc. have incrc"-
ed enormously This Is attriJuiahl"
mainly Co thc Increased wages Of la-
hor. especially among those who nave
doubled or trchled their pay on war
ur emergency Job. Too sudden pro-
pcrity is quite ns upscttiug Co those at
tho bottom as to those az the top
40 doubt there is great room Ton eco
nomy among the American people,
who are accustomed quite generally &C.
having what they want. aud O. due
amount Of sclf dcuill will he AN adj
vantage to them as well as To- THOR
I country. ~ q nation We can Sltr
enormously in the aggregate and this
without crippling any legitimate in-
dustry.
our foreign trade is apparently sr'-
fling down to more normal proper
tions. February exports showed a de-
cline. while imports increased, icaN
ing ID smaller excess of the latter than
usual, or only S2Oi. 900, o o Total e.
ports last month were san OUV,OuO,
the smallest total since April, 1871
when the amount was about S33N, 600,
600. Much OF the decline was douot-
lesg due to the freight embargo, ar's'
ing from Fcbruary's irigid spell. lW-
ports during the same month were
valued at S2O7 900. goo, compared WIN
2lyg, OOU, 600 a year The iutcr'
natl aal gold moy Cmcnt was exceed
ing limited, resulting in an excess OF
$500, geo in exports for the month
and S9i. UOV. 900 Tor the last cishl
months.
The local security markets display
ed remarkable resistance To untuNur-
able val news. The declines accom-
pauying the German drive were uuint-
purtant and were quickly succeeded los
recoNcries. Government bonds were
cUnspicuously firni and active under
the circumstances, especially the hp-
erty and Anglo-ireuch issues, which
were not apprcciably affected by the
enemy gains. An encouraging fei-
turc was the loan bN the government
81 yii. 600. 900 az g ser cent for pas o.
ment of the New Haven notes, ma
turing April u. This step remove AN
important element Of uncertainty. ana
suggests "a policy ON the part uf the
administration which IL continued
Will tend 10 rcassurr investment hold
crs. Since the government has Ur1c-
flcally cummandcercd tho muuc' mar
kot and undertaken Co control tho
flow Of money into irE r~tuieut. ur
new enterprises. % IS bound boz RETURN
Go consider the effect up'u Cnuccru