The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1924-06-18

ui''ohs' the Survey says. Recently,
the United States Commercial At
.ache at Warsaw reported that Po-
ana had already made considerable
progress in this direction since the
nrst OF the year. Polish mark ex-
change has been practically stable for
'he last two months, and consider
able economy and reform have been
accomplished.
austria continues to show the ex-
cellent effects of the scheme of re-
haollltatlon organized by the League
OIL Nations, and similar results are
expected from the same methods in
hungary, where currency initiation has
now been arrested.
In Sweden general economic condi-
lions are excellent, and the resump-
ton of gold payments by the Riks-
oank has caused increased confidence
IN financial circles. In connection
WIN other steps in the sterilization
OF swedish currency on a gold basis,
a revolving credit of $4,000, 900 was
provided for the government of the
United States last week, following the
sale here earlier in the month of $40
VOo'VoO Of Swedish treasury bills. II
Is reasonable to expect that other
european countries will soon be able
10 follow Sweden in the restoration
81 an effective gold standard.
Stability exists in Finland, Switzer-
lard and Czechoslovakia. The general
outlook in the Netherlands is much
more favorable. Business there IS
Ianly we'll maintained, while unem-
ployment is decreasing, rejecting
greater industrial and building activi-
ty. The unfavorabIe trade balance
decreased in March, while with new
axes and with economies which are
planned it is hoped to balance the
government budget in 1925.
In France economic conditions are
GOOD, The recent election fore
shadows a conciliatory attitude to-
ward Germany with respect to the
occupation of the Rhur. The estab-
'ishment of the Schacht gold discount
bank will doubtless facilitate Ger
many's purchases in foreign markets,
while the adoption of the Dawes prop
osals gives hope of a material i'm
provement, if their provisions are put
into effect with sincerity on the part
Of all the nations concerned.
In other parts of the world, also
evidences of betterment are to be
seen. The trade of India is nov
equal to that of pre-war days. Aus
tralia and New Zealand are prosper.
ing, and economic conditions in the
South American countries show signs
Of definite Improvement. 1t is evident
in fact that the effects of the war are
gradually disappearing throughout
the world.
The existing commercial agreement
between the United States and SPAR
has been extended for a period OF one
year, or until May 5, 1925. America
products will continue to be admittec
into Spain under the same favorabl,
rates of duty as they have previously
enjoyed, with reciprocal privileges t
Spanish products in the United States
In Argentina there has been littl'
change in the general bushes situa
ton during the last two months. TIL,
government has continued the prose
cutiOn of its program of railway ex
tension and of increased petroleum
development. Railway traffic ha.
been heavy and general building con
tinues active. Domestic business
tends to be dull for the winter month.
and import business is cautious. Tn,
rise in dollar exchange may turn much
business to Europe.
Brazilian exchange remained fairly
stable during April at slightly under
nine milreis to the dollar. Importer:
are extremely cautious in buying
The demand for automobiles has in.
creased with a price reduction, es.
pecially in Rio de JaneirO and Sac
Paul1. The market for agricultural
implements also shows a marked in.
crease in Rio de Janeiro and in Rio
Grande do Sui.