The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-06-06
Business and Finances
By W. s. Cousins. Editor American BenkeT;

duction if continental conditions re-
NAMED as at present.
Inc two other great European
probiems-currency initiation and
Bolshevism-admit of solution if in
diligently and vigorously tackled.
ne financial chaos in Russia has been
brought about by the skill with which
the Bolshevists have used their print
ing presses to counterfeit the note
issues of every country in Europe.
In France there were a little less
than 6,0O0,000,000 franc notes which
formed the currency of France prior
to the war. Today there are 36,OOO,-
100000 franc notes of the Bank of
France. The effect of this initiation
has been to greatly enhance prices.
England has an enormous issue of
what is practically fiat money, about
81 ,5OOOO0,000 of currency notes tnat
are secured r. verv small amount Of
gold comparatively, about $4,000, 900
pounds.
In Belgium the Germans forced a
bank there to make great issue of
notes. 1t flooded the country with
marks and when the Belgian govern
ment got back there they had to take
these marks up. When France got
A'sace-Lorraine she got about 4,00O,-
UOOOO marks along with it and had
to redeem them. It cost GRANGE ST.
WOO0,OOO in her bank note currency
So that currency situation makes a
great difficulty.
American aid alone can save Eu-
rope and this aid must be extended to
all countries alike. This aid is neces-
sarv right now, not only to save Eu-
rope, but to prevent an invasion oil
America by the forces which threaten
the social overthrow of the whole 81
Europe.
War Bond Subscriptions
The treasury department reports {
total of twelve million subscription:
to the Victory Loan notes, of which
90 per cent, or $2663, 154,85O were
taken by those whose subscription:
were not in excess of $4,000. As al
of these subscribers will be allotted
the whole amount of their bid TIL,
loan has proved popular one, .anc
it's wide distribution will insure it
price stability. Initial sales Of Vic
tory notes were made on the Stool
Exchange this week at 1920, as com
pared with the present price of 900
for the first Liberty 3Hs, but in
vestment experts do not look for an.
such sfluctuation in the Victory note
as in the other outstanding war bonds
| In the five war loans the govern
ment received no less than "a 10000
i. separate subscriptions, a total Q
which, of course, includes many d.
plications 1t was, however, an *
cellent practical lesson in the frs
principles of investment to thousand
, of Americans to whom thrift an
economy were practically unknown
and the Liberty bond campaigns, i
teaching people to save, have bee
| of wide educational value, and man
| Americans are better off and not tn
r least, financially, for the war.
. Business Development Favorable.
e Reports to the federal reserve boar
: from strategic business centers ar
i highly encouraging, and indicate
f progressive improvement in bushes
e development throughout the cour
e try. These reports, when summarize
v are more valuable than local indics
t tons, which are too often colored b
: sectional conditions and sentlmen
n Not My has there been an increa'
d ing ability to absorb the floating SUI
n Div of labor, but in MANY districts tt
$ resumption of industry and the d.
= velopment of business activity are di