Show E Readjustments Proceeding Rapidly I By Ira IraC C. C Tichenor Tichenor- OSE who are re inclined to become fretful over the seeming tl I slowness of the process of readjustment in this country should recall the fact which all should be aware of either from hearsay ir by reading the economic history of the nation that it was seven years after atter the close of the C Civil vil war In hi the United States before the high money and commodity rates generally even commenced commenced to to come down while ft t was approximately thirteen years years- after aler this war that the price of ot capital and and commodities what might have been ter termed ed a prewar prewar level w wv v It is now only three years since the signing of of the armistice yet In that time the price of money has been reduced more ore than 30 per cent centi while the 4 ag price of commo commodities l es has has has' declined d even eJen to a far greater extent It I be remembered to tod toof that owing to the unhealthy boom experienced fin country fol following owing the close of the World war var the process of readjustment did not real really begin until about a year and a half ago go can be seen therefore that while the there e was a lapse of seven years following SJ owIng the Civil war before prices even started to come down the process I r of r readjustment following th the World orld war has progressed far toward oward its Is completion within a fraction of the time before the process really realy began f following Io the civil ivIl ivl strife of th the GOs The process of ot d deflation flaton is progressing In ila a consistent and really rapid I manner Commercial paper now is reported to be moving freely at 5 53 per percent percent cent cent against a arate rate of 8 per cent or more a ew few months ago Prime names are r even even eyen no v no now quoted at 5 per cent and while the demand for capital as tow by the splendid bond market marIet has a tendency to retard the downward trend trend of ot the money market as a a whole it J I is confidently expected that there ther i e bo a further material reduction In rates with wih the opening of ot the new year year r. r if not before S Z The h continued Inc Increase ease with wih an an occasional pause jause pause or slight recession Int in inthe the t ratio rato of ot the federal feder l reserve s system stem is a positive index of the character and course of ot the money market marlet v y t There is being experienced at tt present some interesting cross currents in In prices of commodities with wih some prices gaining slightly ty higher levels This true is tru of ot copper and other metals and oil 01 while wool prices pries remain firm tr s G Generally speaking ho however hoever ever there is und under r ray ay way a settling down process of of prices p s that may continue in a constantly constanty i lessening degree until a logical l level level- levelis el is reached in a perfectly perfect y orderly manner anner |