Show LACK LCK OF CONFIDENCE NOT 9 OF CREDITS It is not lack of money that makes for tho the existing depression in il business it is i lack lak of confidence Nothing could bo be more fallacious than the than tho notion noton which apparently possesses s this administration that tEat expansion of credits credit is iB tho th sole requisite of commercial activities The Thereal Thereal Thereal real essential is a mark market t. t Prudent manufacturers do not borrow money maney even wh when n they can obtain i it upon easy terms for tho sake Bake of paying paying- interest th they y seek Boek it only when they thoy can uBe use i ito it i to advantage in providing ro goods that can bo ho sold promptly and profitably The president himself is convinced that prompt passage of tho the currency bill bi would start the thc wheels of industry We Wo doubt it for many reasons rea rca sons not the tho least of which is iB that the sole basis batis upon which he ho rests rest his sanguine san pan guine anticipation is s that it is ia i only ony neCessary necessary neCessary gine essary to set Bet credit free re front from arbitrary arbitrary arbi arbi- tr-ary tr and artificial restraints That isa isa is isa a a desirable thing thin to do no doubt and certain ultimately to prove provo advantage advantage- ous cue But radical rev revolution luton of a delicate delicato deli deli- deI cato cate and complex financial system cannot cannot can can- not bo be encompassed so BO completely as to produce marked od benefits in a month or perhaps in a a year Assuming tho passage pas- pas sage page of the most mast nearly perfect measure that could be devised oy by y the tho wit of man time tie must bo be bad had for adjustment of the tho many ram parts pars of tho the intricate machinery ma inn- chinery Moreover if as wo we have assumed assumed as as- and believe heleve tho the present unhappy i state of at affairs is i attributable far faT let less lew to lack of credits th than n to Jack of confidence con dence dance practically practical practical- no immediate relief can bo be anticipated from the source to which the tho president pins his bis aith faith George Harvey in the tho January number of or the North Norh American an To I |