The Bridgeport times and evening farmer., 1919-06-27
OUR LAST MONEY FURRY.

OUR LAST MONEY FURRY.
 Two causes contributed to the re- cent money furry which so sharply | affected prices In the stock market. One was the desire of the Federal | Reserve Board to check the momen- tum of speculation, the other was the | temporary pinch of money due to | payments on the income tax.
 With the latter feature the pub l He Is not greatly concerned. Such de- | velopment are not lasting and they are merely incidental to the fiscal | operations in which the United States | Treasury Is involved at present. Tho | effort to check speculation, however | was based on fundamental considera- ] tions with which the average operator | has little sympathy owing to his | scanty knowledge of new conditions | The United States is morally commit ted to the most stupendous plan of | financing that ever has confronted | any country.
 With the declaration of peace and the resumption of the worlds indus | trial activities American bankers will be called upon to furnish credits in vast volume. In anticipation of these demands it is considered essential that New York banks particularly should be kept in liquid condition
 The money furry, therefore, may be considered in the nature of an adm monition to those who were in- cltned to disregard impending fnan- cial needs. Higher rates were em- ployed to rectify & situation which it was considered impossible to deal with in any other way.
 The Outlook For Money. We do not look for a continuance of unusually high money so long as speculation is kept within proper bounds. The advent of high rates un- doubtedly would call forth large of | ferings from the interior banks which would operate promptly to check a rise. But 1t should be borne in mind | that this relief probably would be l withheld in case the sentiment of the
 banking community, thereby meaning the Federal Reserve System acting as 1 a unit, should consided such easing 1 of the money situation unwise. | Our country is prosperous as it
 never was before. Never in our his
 tory have we had such a plethora of
 money. But ahead of us lie unpre-
 cedented demands. The oonsortium l of bankers, recently proposed, will | call for a greatly increased outlay to
 meet the requirements of Europe.
 This involves not only an information l al duty, but at its root lies the very | foundation of our domestic pros perity. Our production is so large | that we must sell abroad, and in order to sell abroad we must provide l credits that buyers may be able to i finance their purchases.
 For those and other reasons no
 one can foretell the demands that will be made upon our financial resources. |, Bankers cannot be criticised for keeping the situation we'll in hand. | Our supply of funds is not inexhaus-
 tible, and the extent of the drain that
 will be caused by Europe's needs can
 not be predicted. If our own pro- gram of reconstruction Is managed
 with sobriety we shall be able to
 meet foreign requirements and our
 own as well-Williams & Go.
 Jimmy Mason, manager of Harry
 Greb of Pittsburgh, broke into town
 today, carrying two big bags contain
 ing dough belonging to Smoke City
 fans who want to invest the money
 on Dempsey's chances. Jimmy will
 have no trouble placing the money.
 Joe Chip who has been here for
 a couple of days is seriously thinking of making. this city his home. He
 says the folks out here have treated
 him well and he is so satisfied that he
 couldn't think of going back Co Pennsylvania
 III Who said Toledo was dry? The town is chock full of booze-jf you know where to get it and if you have
 mint with you.
 Jack Dempsey has been christened
 king of the kids" Jacks best pals are the kiddies and how they love their Jack, too. Every spare time the
 challenger has he spends fooling with the little tots.
 Reservations have been made at
 the Boody House for a party of seven Connecticut men, Joe MuIvihin is authority for the statement that in the neighborhood of 160 fight fans from the Nutmeg State will be on hand to see the bout.
 H cORENESS @ in joints os mus S clss, givs . brisk HIA |l massago with 1zE62 H VICES WApORU W