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Show Economical Paradox Hoarding has rightly been blamed as one of the biggest depressing influences on business. There has never been more hoarding than there is today. to-day. A large part of the money that is not being hoarded by individuals is being hoarded by banks. While there is ' great demand for short term loans, the market for long . range investment is so poor that needed construction and enterprise is held back for lack of funds. But no wonder there is little money available on new long term loans when old, good loans sell at a heavy discount. dis-count. A good loan market is the need and there must be a good, firm market on old loans before new loans will be made. The present market is not good. Witness the fact that the average price of ten of the highest grade rail bonds in the United States broke two full points in a single day. Such performances do not inspire confidence on the part of 1 the investors. A bond average like this does not change in price a tenth of a point a day in normal times. True, there is nothing immediately alarming about these fluctuations. The ups have more than balanced the downs. ' But, the uncertainty regarding the value of the dollar, and other considerations, are trying on the confidence of investors. invest-ors. Informed Americans look forward with hope to the end of these uncertainties. 9 |