That the lesson of 1920 has been remembered, if not thoroughly learned, by the average American business man has been obvious from recent occurrences in the financial markets. The economic signs of a boom have continued, yet tempered by a spirit of caution. Not merely bankers, but leaders in mercantile circles too, are advising against recklessness. The speculating public has grown cautious in the Stock and Cotton Exchanges. In general, Mr. Babbitt is willing to put up enough additional chips to draw to a pair of treys, but he isn't "raising" any...
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