A general consensus of opinion indicates that the recent expansion in production and distribution has reached its peak. Nevertheless, previous fears that this expansion would broaden into a reckless and unsound speculative movement are less keenly felt. The principal markets seem to have attained an equilibrium, and the question now is, whether present industrial and mercantile activity can be maintained throughout the year.
The predictions of business leaders are hardly consistent. Secretary Mellon is an out-and-out optimist, who sees no evidence of inflation, no cause for alarm, and a long period of prosperity...
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