Show I Financial News I INFLATION TALK SWAYS MARKET Speculative Wall Wal Street Is in il Favor of Move Bankers b Worried By GEORGE ES Copyright 1934 by The Telegram NEW YORK April Apri Among 20 the confused and conflicting influences which sway market sentIment at this thi critical point pint the prospect of fresh reh easily takes first place Speculative Wall Wal Street would welcome more InflatIon but the eon t. t banking baking element clement is i greatly greaty disturbed at the outlook The s speculative cu- cu position in the silver stocks stock for tor instance is i very large and re re- however effected would be regarded by It J only as a aon on an Opportunity to cash in profits In a a general wa way alco aLo the speculators seem to think that the passage f a silver iver bill bi by congress would have an immediate stimulating ef- ef c. c feet on the te prices of all al equities They Me ae probably mistaken In this thi but they hold to the view tenaciously There Li I also from time to time buying in this group by others whose only motive is to acquire a hedge against inflation which they realize reali would hurt them in other directions The Te acute weakness In wheat unsettling un un- settling eling other commodities has ha strengthened the belief belef in the te finan finan- chat cal district that the are likely to have their way The Te feeling is i that tat the president will be unable to stand stad up against pressure for some sort of action acton In any any- event event it is i thought probable that tt n a compromise will wi have to t be arranged which however mild mid would have a distinctly inflationary reaction At a time of such preoccupation it our own monetary and Industrial indu Indus Indus- trial scant notice has ha been given to international events event London which i i more responsive to foreign development development takes very er seriously t the Japanese announce announce- announce warning aU all other nations to extend no BO assistance to China finan finan- cial cal or economic wIthout Japans Japan's I consent London Ls i aLso alo anxious I about the erred effect on abut on the European sit sit- of the French note apparent apparent- l closing the te door to disarmament The tock stock market was wa unprepared for lor the te action acton of the Canadian min mm- ister Iter of finance narce in recommending a tax tx of 10 per cent on the of gold fold deposited at the mInt or ex I ported WallStreet has been led Je to believe c th that t no drastic increase in taxation was wa planned but the event showed showe that the had been liable lable Canada is i the second largest producer pro pro- pro ducer of gold in the te world and so s far her government has ha derived lit littie l. l tie or no benefit from the increase hi the world priCe That has h aU been I goIng to t the stockholders in Can I dian mines mine and Indirectly h has been en benefiting the United Unite Stale an and other ather countries Canadian gold ye- ye serves while large are not Inexhaustible inex- inex and when the ore are is all al I mined the te Dominion will wi have g given gen en i up lip its it to other nations nation without without with with- out having reserved anything for Itself It- It i- i isel self sel except to the thc extent that it i is i taken by taxation |