The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-11-20
The Business Barometer
This Weeks Outlook in Commerce, Finance Agriculture
and Industry Based Current Developments.

learned VIII make W. cautious about going
TO extremes I should say that for tho i'm
mediate future stocks arc low enough aud
commodities about ~ high they ARE
likely 70 30 except as they may b. az
feeted ~ special rnther than general IN
fluenccA
New Liberalism"
But we must not deceive ourselfea.
Tho unrest OF the people as expressed IN
the recent elections Ii factor 20 bs
reckoned with. u is only four years since tho
1 srniAtice, and until The wounds OF tho
world war are healed II In altogether
probable That We shall have recurring
spells Of economic hberrHtlon 10 disturb
ua Just as our fathers were veSed by the
greenbAci craze OF the 1905 which fol-
] lowed the Clvii war
/ The expectation Of come such move
I nent has become 70 general that II has
been already christoned tho new liberal.
| Ism" aud there are mGny ,gueHAes as 10 who
| viii be 10 leader Borah, La Follotte,
Hiram johnson and lirookhart are among
those named. but Henry Ford " men
toned oftener than anyone else
Speaking IN New York last week cad
Aekerman asserted that Ford was the
financial bhcker. Of the farm labor move.
ment and that he had spent more money
IN the last campaign than any other pvr-
son In the country
Inasmuch az business thriyes only when
conditions are reasonably stable boom
liz not 20 he expected when tho outlook 10
80 uncertain. In writing thus ] do not
mean TO b. pessinlsuc Ny purpose 10
rather 20 avert the consequences OF the
probable by counsoling preparation.
Confusion In Europe.
In Europe confusion agnin prevails
The news from England indicates that
Lloyd George has been badly defeated
and new pilot for the British ship Of
state must bo selected The tories are
elateJ, but from a nonpartisan standpoint
the political uncertainty seems TO be In
creased
Germany appears 10 be rapidly APP
preaching tho Niagara OF defatlon and
now that the mark In worthless she may
be carried over the falls at any moment |
Tho Reichsbank has advanced the discount
rate to 10 per cent and the ministry head |
cd by Chancellor With has resigned.
French francs are still under cents.
French dollar bonds are weak and lower |
In New York and II looks as II another In |
ternaI loan would be necessary TO balance |
the French budget. All this suggests
further reduction In the purchasing power
Of Europe that will not help our export
trade
The Tnrko-Alied imbrogIo about Con-
stantinople is beyond American ken, but II
In doubtful whether II Is as serious as tho
newspapers would lead once 10 suppose.
The brightest spot In he world this week
Ii the Argentine, where boom based upon
the excellent crop prospects seems to be
developing
But the good news from the Argentine
In somewhat obscured by the Chilean
earthquake and it's toll OF death. Condi-
tions In c1ba appear TO he better. good
sugar croK is promised upon the strength
OF which she long deferred loan Of $780,
900 900 will probably be arranged. But
az an offset an important bank failure 10
reported from Mexico.
Outlook IL spotted.
on the whole the outlook Is spotted.
Good here and bad there. Tho weekly
statement Of the federal reserve system
shows a define Of IL per cent in the re-
serye ratio which stands at 1852 as COM
pared with 7G.4 week ago. The gold
supply Ia reduced by about $1,000. 900 as a
result probably Of exports TO Canada as
we'll as Of the continued disbursements Of
elbow backs by the banks. The other
,hanges are not important.
The money market is flrmer and ~ per
'ent IL the lowest rate at which the very |
est commercial paper can BIO sold. Rates
ire tending upward, chiefly because the
abroad congestion delays the dlstribu. |
DIN OF goods in transit.
teview.
End OF End Of
asst week previous urNcL