Evening star., 1922-05-21
BY L A. FLEMING.

By L A. FLEMING. Z
1t has been week, . month. Of
rsviving conadsncs, OF grorins faith
In the future and many evidences Of
trade revival, ActueI and not predE
Gated on the moro or less distant
future. Ky
Wall street wnhns usual psrspi-
cacity, either. senssd this improve
ment montha ego pr had the plain
luck to believe In It and discounted
the Improvement:
While SPECTATORS were, marking
Up stock and bond. values, business
still Jagged; It. did not respond as 1t
should have to tie EFFORTS OF the
business world, but the boom CON
tinued and has just taken q tfesn
lease Of life and wind, seeminsy
bound for higher prices
entirelv in our own great American
markets, as our expects nave asah
decreased, followed by. aesseneo I'M
ports and consequent increase IN tne
balance of trade to the ALREADY iarss
obligations of our foreign-iets say
During February and March the
average daily clsarings decreasso ap
precisbly, and during April spa may
thew have gained materially espe-
ciaily SO far this, month.
r. Q: Dua. & GO. La 1snor' SIar cities. te for
January, SLoS7.e35 200; for Februsry,
Si.oSSi1a, Dee; for March: aSl.otz;sse,-
90: for April tl:lls.47s.eop. ana '0r
Nav. S1,157.sIs.e zee. .h.
Moreover, these clearings are tns
result Of business on tooas nateris,iy
less than those Of . year ago, eAcep'
No one can very well AHarttss.. ts.
politicai1y or Otherwise: WIN
earnest efforts that President aasg
Ing is making in the interest oi "
His every effort seems to pc oireSe-
ed TO the mending OF business con
ditions, the correction OF sss
business. to bringing out tne iste Is
that is in big men and 70 suson
Snsinexs @ ideas. Ably assisting the
President, directly In commercial ana
MISUNDERSTANDING efforts, disseminating
Valuable news and actual trade iacts,
is Herbert c. Hoover the eecFelA's
of Commerce. -h.tber
,nnch has been accomplished or not
INT II is not probable that spen
dent efforts can be insistentiy oiIeSc
ed for the next three years. unoer ene
same leadership practically "i'nou'
producing results.
Help the Motor Trade
Encouragement of the automotlve
trade in the aid Of financial pLonu
banker should be careful IN making
connections. inn
IL has come to be, such an I'M
portant part of our business ac.iY-
tiles and requires SO much nnancins
that it furnishes. the OPPORTUNITY d nod
with ample security-if the other
end of the transaction is backed oy
commercial honesty and integrity.
No one need feel, sympathy Tor
bankers who exact large rates ana
take chances IN THIS business
There are many companies thdt
take chances that are in the business
for That purpose and VINO oeMano
much compensation therefor. SO lna,
when a loss is sNstained there WiH
be ample, profit To- neip reeeup Al
The same care exercised over au-
tomobile financing that is given 10
commercial loans Plus necessary do-
ditions, will give good returns. :.
When 1872 opened there were a,a- W.
Trucks Trucks in use IN the United States.
Today the estimate is 1o.soe.9eo.
rapidly increasing. All the Leading
motor companies are having to hustle
to keep pace with the demandi
This condition would not be put tor
the partial payment plan In vogue In
sailing both new and secondhand
machines. nor would this time pay
ment plan be possible without the
co co-operation OF the banks.
1t is big business I'd every sense
of the word, and with honesty ana a
fair cash payment should furnish
steady and large demand for money.
1t is, business that should be en-
couraged at this time, especially when
money is loaning at SUCH low rates.
A Maryland automobile title is a
good thing and most local users OF
which adds to the safety Of the trans
action. :. - -.
UBut-Keep- the Note" p.
David r. ForgaH;s president, of the
National City Bank Of Chicago and
brother of the financial authority,
James B. Fofgan, in addressing a
group of bankers the other day said:
IF you have a debtor who cannot
meet his obligation whom you cannot
force to pay, extend the 1ote,- give
him as long as he needs. all the time
he wants, but-keep the note"
Mr.. Forgan holds, with others, that
there comes=a time in the life Of the
great majetity of debtors when they
Ind 1t necessary to clean the slate.
Judgments SHOULD be kept alive for
Hemay be that through some heir
ship, the. delinquent is about to in
herit q bloek Of real estate or other
Valuable pr1pefty.i
busiusss life that he have q clean
records and no judgments on the
Ii order TO meet the requirements
the debtor pays up and the old note
Is finally tnrned back. paid in FULL
paas Interest to date 1t has a pleas
what is more. 1t doesn't cost cent
to- "freezef the note az
..Eree.iasv, and. .Nur.tax,"
Theses TIVE terms have come into
bpsiness as aEesult OF conditipns that
foiioFedr the. buyers strike Freez,
Ing" has q SYNONYM ins ns:moratorlum.
kSrsiag is an entirely ta ths hew acfion ens,
Of. creditors off 4corperations firms
,etc., EsttinE,.tegether. and arranging
te extend aid and assistance, under
their own supervision and manage
ment. to ne .ds,IinSgsnt s,iSsn lite litiraliS iS
Bradstreet and Dun, Il possible. and
IL not, putting the cadayer In better
shane for final salvage opeTadons.
: IN the days gone by before "freez-
inE,p .nursIng or "moratorium," law
yers; wpufd have soon finished the
rematna - = ~
20 That Foreign Debt.
1t was the same Mr. Forgan who
said. discussing the debt of the allies
ct al to the United States: -'Great
Britain proposes TO pay 5 per cent
on her obligations, beginning In the
near fiture Let her pay Per ceft