So many prophets of business have seen their predictions mocked and flouted by events so far this year, that in the literature of anticipation, generalities are replacing dogmatic assertion.
When the Reserve in Manhattan last raised its rates, most bankers saw higher money rates in the offing. Now, however, the bond and stock markets have proved unexpectedly strong, apparently in anticipation of easy money conditions.
It seems certain that money conditions are just now the basic consideration in regard to future business conditions; and that, in this respect, the U. S. as...
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