The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-02-18
Continued from First Page)


business men in America refrain
ing from doing certain things that
would benefit themselves and the
country but who hesitate on &C
count of the business outlook.
For this reason the government
does not mind interpreting the
business outlook. The comptroller
of the currency whose duty it is to
issue regular calls for statements
from the National banks of the
country has had nothing to boast
about for many months The i'm
proyement has been gradual and
steady but it never could be called
pronounced. When he found at
least that the peak of the depres-
sion so far as the banks of the
country had been reached and that
the statement registered for the
first time "a very substantial up
turn in resources" he directed the
attention of the president and his
cabinet to it, and when Mr.. Hard
ing met the Washington CORE
spondents he had copies of the
statement for their examination
Showing Satisfactory.
1T demonstrates, read the
statement of the comptroller, that
the process of liquidation has been
practiced at such an excellent rate
that it may fairly be said that We
are we'll on the road to getting the
/ frozen credits thawed out. In this
regard, indeed. it is by far the
most satisfactory showing that has
been made since the phrase frozen
credits was invented.
Even more promising is the data
available at the Office Of Eugene
Meyer, Jr, managing director of
the war finance corporation. Not
only is an improvement in agricul-
turaI conditions but the repayments
on recent export loans and other
| credits advanced for domestic farm
purposes are better than anybody
| dreamed would be the case. The
beginnings of an export trade are
noticeable. Foreign exchange rates
have held back export trade. The
; passage of the bill permitting Pres
| ident Harding to negotiate with the
allies for the payment of interest
and principal on the war debt Is
expected to bring an even greater
improvement in exchange and con-
sequentiy in export trade.
Recent advances in the prices OF
agricultural products are attrlbut-
ed by many obse. ers here to the
. appearance again of an export
trade.
Want c. S. at Genoa
The most interesting d-velop
ment of a political nature in con
/. nection with improved conditions
1 if indeed matters International cal
be called political-is the y tn
domestic credit situation as well a.
the upturn in the prices obtaina0I'
for farm products has marched
along with the betterment of eX
change rates which in turn are
, reflection of better economic un
derstandings between Europe a.
} America. Although for the mo
ment the United States government
has its own peculiar reasons 10
/ not wishing to g. to the Genoi
economic conference, the banking
and financial minds of the admin
istration would like to see thu
. United States represented there
: They think it would still furthe,
improve exchange relationship ant
: bring America the export trade ssh'
needs as an outlet for her MAJ u
featuring and productive enter
4 prises. The relationship between
5 political stability in European an(
: American economic prosperity ha'
: been slowly but surely developed
even among many who used Il
r think a policy of economic isola
ton was not only desira le bu
; safe. The advocates of interna
tional cooperation are growing il
!, number.