Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-07-01

tions etc. July disbursements aggregatlng
over 1914, 0O0,G00 are already provided for
Unless all signs fail the commercial world
is entering Il new period of great activity,
partly owing to the necessity of repairing
war losses and partly because of the inev-
table development of national resources on
n large scale. There is also the demand
for money from abroad just referred to. In
MANY respects New York occupies the posi-
lion of world leadership in finance, which
it is quite sure to maintain until London
shall be able to retain the bulk of gains
made in the war and probably still further
enhance them. At the moment we are much
favored by the fact that New York is prac-
tically the only free gold market in the
world.
More Sober Business Outlook
Speculation has sobered down somewhat
md the blind optimism by which it was
driven two weeks ago has materially mod
Grated. AT the moment there are many
conflicting influences. Opinion varies COLI
siderably as to the effect of signing the
peace treaty. In some quarters the belief
is that it has already been amply dis
counted; in others it is held that the re-
sumption of business between Germany and
other countries will be beneficial and tend
to hasten return to the normal. Apart from
the satisfaction of having the peace treaty
an accomplished fact, there is the gener-
ally sound condition of business and the
the remainder of the year. OF course. the
most unsatisfactory element is the contin,
ned rise of values here and abroad, prolong-
ing state of unrest and uncertainty. To
such conditions, however. the country is be-
COMING more and more accustomed.
Many difficulties and disputes have been
adjusted. and on all sides there is a more
reasonable spirit visible which aids their
solution. There is but one real cure for
high prices; and that is to counterfeit world.
wide scarcity by increasing the product; and
there is no way of increasing the product
except by more work. The present practice
of more pay and less work is unsound and
much like administering alcohol to fever
ish patient; it only makes him worse. Real
prosperity, as we have often said, lies in an
scarcity to which our present drift is tend
ing. More work will cure many of our pres.
ent ills: widespread unrest included
Stock Market Awaiting Developments
Activity on the stock exchange has sub.
sided considerably. Existing conditions ap
able news the advance would probably be re-.
| sumed, until halted by monetary conditions
On the other hand no great decline is to be
anticipated, considerable liquida ton having
already been accomplished and average
| prices still being considerably below pre-vyal
levels. Our industrial plants expect an in
| crease in the volume of business, but the out
| look for large profits has been somewhat af
fected by increased expansion and the diff
| Guilty OF securing a further rise in selling
| prices. Export demand for our manufactures
! has not vet reached eXpecta tons but on the
| other hand a good home traffic is confidently
| calculated upon. Railroad shares exhibited
| considerable steadineSs, in expectation Of 8
| large traffic this aptumn and possible ad
vance in freight rates to partly offset the
! rise in wages. factor of importance il
! the early return OF Mr.. Wilson from abroad
| Interesting developments are sure to follow
| Though the opposition in congress to tho
League OF Nations is disappearing.