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Show NO TIME FOR SPECULATION The stock market within the past three months has seen a very considerable advance. ad-vance. The greatly improved military position has helped it. Whenjfche German front in France began to crumble, and Germany's allies to weaken, then the speculators began to take notice. . They looked ar.ouhd over the stock market, and saw sound securities selling for prices below their value. Theybegaii to pick up bargains and the result of thjs buying movement has been the advance referred -to. Now thismoderate rise hashad some uses. It tends to make business men more cheerful and helps them look to the future with confidences It probably put ovtv the Liberty loan.- Some men were able to get rid of stocks without loss arid put the money into government bonds. Butitwillnotbein accordance with government policy for any big advance movement to 'be promoted now. Such a movement always depends largely on borrowed .capital. If this capital is tied up in the hands of speculators who are buying for a riseit will not be available to help put over the next Liberty loan. All financial operations for the next six months should be planned with respect re-spect to the way thev will affect the bond issue due for next March or April. Peo-pleought Peo-pleought not to be allowed to have funds for speculation. If they have idle money siting invesfonen let' them put it out on sho term securities that can be exchanged ex-changed for the next Liberty bonds. It is likely that all conservative financiers finan-ciers share this feeling.' People who try to speculate now'ori the assuriiption that a large and general rise is going" to be promoted, are very likely to run up against the sound. business sense of the country' and thus find themselves gelled once more. ' , , ' ' ri p, |
