Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-06-24
All Influences Combine to Urge
Thrift and Careful Investment

home and abroad. Barring some unfa-
vorable European developments, it would
appear that nothing except some unfore-
seen interference of Providence could pre-
vent prosperity from continuing to increase
during the present season. With financial
conditions as well Stabilized" as they are,
even in the face pof heavy government de-
mands and undoubtedly difficult problems&
to be met in some branches of the ex|
port trade. stocks should be in a safe pc
sition for 4 good while to come
New Securities Offerings
The new securities offerings originating
with domestic enterprises are already unpres
cedented, but they are likely to be followed
by offerings of Il new kind-those growing
out of foreign financing. AS already init
ma ted, the need of some positive action 10
already admitted by those who are studying
our export relationships. 1t is also con-
coded, however. that such action must in
volve the real absorption of securities by4
the American public. The securities may
be of a kind issued by foreign enterprises
and resold here. or they may be the result
Of local financing in which American banks
will participate so that the American In
weston gets the benefit of a guarantee fur
nished by domestic institutions which he
knows. However the value of the issues
may be safeguarded, the point is that they
ings. This is no time for recurrence
of extravaganza, but it is already apparent
that such tendency exists, and that it will
makes itself manifest unless checked. The
reason LOT checking 1t is thaC the banks
of the country cannot be expected to carry
the load of European support pending the
time when European business men get into
position to take care of themselves. I'm
doubtedly whatever plan is adopted will,
therefore, give rise to some very attractive
offerings Of securities. The investor who
has a little money to spare will be able
to do better for himself than for a good
while past. Now that much Of the cream
has been skinned off from stocks, it may
easily be that the market for bonds or notes
will offer the next best opening to the
prudent man with money who prefers GER
tainty to a hazard.
Gold and Prices
The desirability of providing moderately
for the financing of our export trade, and
at the same time of absorbing some very
attractive securities by the exercise of a
little thrift ought to be obvious to investors
who have been well trained
have been during the of the war.
We do not want commodity prices to go
much higher than they at present, vet
they will certainly do so If we continue
to spend our savings in making demand
time trying to buy. Particularly will this
be true if we insist on getting paid in gold
for the balance that is due us. Since the
gold embargo taken off, have lost
some yellow metal, although hardly enough
to offset our recent gains from domestic,
production and importations. Prices are
rising both here and in England, as the cur
rent index numbers show and the need for
saving is again emphasized both by high
rates for money and good returns on invest
ments, unusual values for stocks and real
estate and demands for funds for foreign
financing. All influences seem to combine
to urge upon the individual the desirability
of thrift and the careful investment of his
funds in some OF the forms now so numerous
that cannot help paying him good returns.