The Bridgeport times and evening farmer., 1918-01-15

Peace terms and war aims from all
directions have come thick and fast
during the week and literally battled
for supremacy in the speculative-in-
Vestment mind. So many conflicting
interests have come into prominence
with disturbing factors that the active
Investors have found it wise to care
fully digest developments before as
grm1ng a positive stand on either side
OF the market for securities so far as
immediate movements are concerned
The Presidents concrete war aim
message to Congress, however, has TO
cused the words attention upon the
strong position OF tire Entente Allies,
land We think 1t may be looked upon
rs another definite step toward peace,
which may or may not become real
1ty In the near f., e Financial IN
;terssts as a rule do not expect an early
peace except as q result OF internal
dissension in Germany, accurate in
formation concerning which Is lacking
at the present time. Meanwhile the
policy of preparedness for an energet-
ic military campaign against Germany
by America seems to be governing
washington. Geaerally speaking, the
international situation will have to be
most closely watched TO see which way
''the cat will jump" That the West Is
awakening to the reality OF the war Is
indicated by these warming words Ut
tered in the Senate by Sanator Kenyon
of Iowa, who recently returned from
a visit to the European batHeflelds;
Those who are now trying to help
in bringing about a patched up peace
and lend their influence in that direc-
ton had best remember that it Will
cost US moro now to lose this war
than to win it Some months ago lead
ing German statesmen figured about
lS89, 600 600, 600 as the amount that we
should contribute in indemnities- They
viii need a better collecting agency
than yet developed to collect it
Up to this writing the government
has not apparently determined the nm
.1,Crtant matter of when the next LIB
serty Loan Will be offered, nor the rate
of interest the new war bonds VIII
iRear- II would seem that If the gov
ternmeut does not fix a rate of more
l4l1a1 4 Dor cent It may be forced, like
some of fha European governments, to
offer OH next issue at a discount We
think 1t advisable to give close atten-
fIcn to the matter for the reason that
the establishment Of a rate higher
than 4 per cent might be looked upon
by1nvugtment interests as operating to
lower the market prices OF corporate
and tS4her issues c0rrsSpondingly. II
is expected that the action of the gov
e,nrnent in taking over the railroads
viii continue to exert favorable in
fluence. especially should Congress
carly out the recommendation of the
President as to financing and credit
be enacted into law by that body
while there has been some uneasiness
in regard TO the talk of discriminating
IN She matter OF fuel for essential and
nOn-essent1al war industries it rs graft
Tying to note that the Washington au-
4hnrities are disposed to be very con-
servatfve in putting in the latter class
anything but lzxuries- 1t is not to be
overlooked that since the UNIFIED
6tates entered the conflict the tern
war orders now covers wider
scope than heretofore, embracing ma
terials both for ships and railroads
This VIII spread industrial activity L
is reported that the government is moi
contemplating the seizure of the Goa
mines of the country
It is estimated that the genera.
stock of money IN the United State
Is $685., 900. 900. as compared with
.$1o12, 900, 900 a year ago. The pei
capita circulation of money is put a
$48,76, against SAB a year ago. TIL