The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-04-02
BRINGS
PROSPERITY
b RICHARD HATTON

6y tSkChAk6O 1AAIIUN
The great possibilities before the
/ Federal Reserve System and the
good already accomplished by the
Federal Reserve Banks In stahiliz.
Ing prosperity in this country ID
brpusht out Ia an article on 'sThe
\ New Era Of Prosperity" appearing
"a the weekly analysis Of business
eondItions. issued BY the Alexander
Hamilton Institute, which states:
During the past year business
men, bankers and investors have
been happily surprised at the steadi.
ness Of business ana the stock
market. President Grace. Of the
Bethlehem Steel Company, says it
IL due TO the hand.to-mouth buying
policy adopted by consumers Of
steal products.
Judge Gary believes that sta
bilized prosperity Is due to an In.
grease In business morality-a high
or standard OF business ethics.
Wall Street brokers, however, are
always skeptical Of stability. They
naturally expect wild fluctuations.
Just now they are saying, There
must Be some new factor In the
situation with which we are not
acquainted about which we are not
fully informed
"The wan Street brokers are
nearest the truth. The business
world IS not well informed regard
ing the cause of stability. The
fundamental cause of the steadiness
In production. employment and the
cost OF living is the stabilized pllr-
chasing power Of the dollar,
we are living In new era.
Never before has any country been
IN q position to stabilize employ
ment and the cost of living by
stabilizing the value of money.
I The Federal reserve banks have
an unprecedented opportunity. And
by regulating conditions i'm the
United States, they can incidentally
accomplish great deal toward
stabilizing production and employ
nnent IN Europe, Asia. and the rest
of the world.
The banking resources OF the
United States are four times those.
of Great Britain, and greater than
the banking resources of Great Brit
sin, France. Germany, Italy, Bel
GUM, and Holland combined.
''The United States possesses $4,-
900 ,000, 900 in gold, or nearly half of
the total supply ofsthe world.
The board Of directors of the Ana
costa Bank has declared the regu-
lar per cent quarterly dividend,
payable on April /, to stockholders
Of record March 81, 1927.
Net profits Of $7.ss3,Os4.O1, fig.
Nre which has been equalIed or ex.
ceeded by only one previous year in
the history of the company, and net
sales Of SAC ,662. 103.7S. which have
been SURPASSED by only two previous
years, are shown in the annual re-
polt OF the Victor Talking Machine
Company for the year ended De.
coinber 81, 1926, which has just been
mailed to stockholders of the com.
pany.
As measured by check payments.
the dollar volume of trade during
the fourth week Of March, although
smaller than in the preceding week.
was substantially greater than in
the same week Of 1926, according
to the weekly statement Of the De-
partnent OF Commerce.
Loans and discounts Of Federal
reserve member banks receded from
the previous week but were larger
than d year ago. Interest rates on
time money showed no change.
Call-loan rates advanced.
Building contracts awarded In
thirty-seyen States were larger than
In either the preceding week or
the fourth week OF March, 1925.