Salt Lake Tribune | 1919-04-03 | Page 6 | Financial Conditions

FINANCIAL CONDITIONS. .Carter Glass, secretary of the treasury treas-ury and father of the federal reserve banking system, is highly optimistic regarding re-garding the present and future financial condition of the United States. He places our national debt at less than f-'.".000.000,000, and does not believe it will exceed $30,000,000,000 after all our war bills are paid. As an offset we hold $10,000,000,000 in bonds of foreign nations. Our reserve is the greatest in"; amount iu the world, which insures plenty of capital with which to do business. We have no foreign debt, the pe.ople of the United States holding tho obligations of their own government. govern-ment. The interest upon these bonds will therefore remain at home, while the- foreign governments must pay the interest upon the $10,000,000,000 owing to' Uncle Sam. Leading financiers of the country differ as to what course should, be followed for the next few years, but there is no difference of opinion concerning our present favor-abe favor-abe situation. Of course, wo shall never be able to control the trade of till' world, but we are certain to get our share of it unless congress kills our chances by foolish legislation, which is not- probable. Secretary Glass believes the liquidation which has taken place i'u' Liberty bonds since the signing of the armistice has spent its force, and j:n::t a r' oir.d in ;r; -'-- ii t-j in ths car I'-n.ir..-. Ma::y u'riu'r: j A in ri' .'i i Lu i;l,t n.'j.-.r is t .i. 'i j'-''.! i i-a.'Ty, .jii't, rial. ::;t'!y r-:, ij'ri'i'-'i iror;,':d v.i. -a t:i..- :r.:i:U'-t 'h.-'uriii j.,vr:.,:...-.i. Thii a iv I a !'-r;,-.:-:j r i j i j i ; r 1 1 of ! i - -.at: -l" .n-T j'-:i . L it it co:.!l not 1, L.-I; .-.1. Ti, (,!. U fc-w in -t.-on .o-r ha.vi, arid th-' w ! l.a iv:'-n el. ar.' 1 for ti.- Victor- lo.ui.