New Britain herald., 1919-03-01
Henry Weekly

the financial district has beea
 discounting better conditions,
 seem to be approaching thoHsf1
 vet actually in sight. Beyond ds
 a more hopeful feeling has
 slowly developing throughout
 month of February, expressing ity
 in an enlarged investment buying
 securities in a partial recovery
 confidence in banking circles and in moderate revival of enterprise. MeAH at the head of large industrial un-4 dertakings are growing more ands more optimistic despite presentA sIackness and a disturbing labor out-3 look. Many new building projects are likely to be soon launched should nothing prevent; commodity prices are failing; economic law is gradual- \ ly resuming it's sway; the opposition to federal ownership of railroads, tele- graphs and telephones is increasing;
 ln snort, while many serious problems and more or less consequent disturb ance are still ahead of us, it is a well suhstantlated opinion that the worst IS sufficiently known to be fairly measured and that ere long condi-
 tons must Improve rather than re- trogade. Such beliefs seem to be the paslS 0t the improvement noted dur Ing the last few weeks. Actually, there has been little positive change TOT the better; and it would be easy for the pessimist to point out where matters may grow worse before they grow better, notably in the matter of labor. But fortunately for the coun- trys progress Wall Street always in- clines to make the best of things. and to be rationally optimistic when ever there is opportunity; and un- doubtedly it has been busy discount ing the better times to come as far as circumstances will allow. Whether we are moving too fast in this di- rection or not remains to be seen.
 Congress is now about to adjourn, and there is no prospect of an extra session until possiblye May Or June next. The session just closed has been productive of little work com mending itself to the better judgment
 of the nation, and the new Revenue bill occupied the bulk of it's valuable time. That piece of legislation will go down into history as one of the most complicated, oppressive and un- popular measures of taxation ever conceived. Since the war ended no sincere or effectual attempt has been made to cut down unnecessary ex- penses and stop Wanton waste: hence the necessity of increasing instead of diminishing the huge burden of taxa ton, which cripples industry and un- necessarily blocks industrial recovery at the expense of labor and capitallI alike The old congress proved itself one of the most unsatisfa actorv on i record. What the new congress will 1 do cannot be forecast The house ! majority is politically opposed to the 1 president: but MT. Wilson has SD 1 enormously enhanced his prestice through his meritorious labors for the l League of Nations that he may he 1 able to continue his remarkable sway 1 over the course of affairs at Washinp 1 ton during the remainder of his term Whatever criticisms are shOwerad ] upon some of MT. Wilson's policies 1 and actions, he has certainly n1acad i the United States among the very 1lfst of great nations; and this is 2 i work of incalculable value in tho great future that is before us. It is to DC hoped that partisanship will not De allowed to weaken the wonderful 1 mnuence which America has gained amongst other nations under Mir Wilson's skillful leadership in foreign affairs.
 Security values are steadily harden llS' Hudlly or the Specialties having 1 shoWn decided advances during the l month Of February. Industrial issues i were well sustained, owing to tha he nef Tn business recovery, and the fact ! that taxation, which often cut profits | to the bone, will be less oppressive in 1 l9I9 than in 1918. The iron trade is 1 In a more hopeful temper, based on l expectations that if prices are reason ably sta bilized at the present level l fhere will be an abundance of buiId ] ing and railroad orders to take tha | place Of war contracts which have permanently disappeared. It must he l remembered that new buldines and l new railroad work have been nracti 1 cally held up since the war began ] mere IS, therefore, a great scarcity of 1 apartments and housing facilities which must be made good and which i higher rents will justify. Our rail- 1 roads have been at a standstiU as re- 1 gards new facilities or improvements 1 and much work will have to be done 10 pT10g equipment, terminal facili- tres, foadbed, etc, up to standard aft CT prolonged neglect and hard wear 1 Even if export demands do not inn l medlately come Up to expectations 1 home orders promise to keep this l great industry quite busy during the 1 interval. Railroad shares were well maintained and confidence in this 1 class of investments has been partial 1 Jy restored owing to the prospects for better treatment in their relations with the government. Public opinion 1 now realizes that the railroads have 1 not had fair play, that they have been the victims of prejudice and political 1