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Show j COURAGE AND ENTERPRISE. Mi Courage and enterprise are needed , now, declares Henry Clews in his spe- M; cial weekly review of financial condi- I lions. After expressing regret over M, inability of senators in Washington to i get together on the treaty and reach 'l ' an agreement on other important leg- j 1 islation, the banker discusses condl- H, lions in general and concludes with flj i the following pertinent paragraph: "We have now reached the point in the backward swing of economic con-dltions con-dltions where courage and enterprise H' t as well as conservatism are likely to be needed. It will be impossible to j give up the extension of legitimate '! credit to European buyers, while on H, p the other hand the furnishing of do- I j mestic-industrics and enterprises with the capital needed In the regular and Hi necessary expansion -of their ojiera- lions will be equally essential, Busi- 1 nees reports from all parts of the coun- , try bear witness to continued activity Hi j in buying, and to every prospect for & continuance of strong demand- A pro- H cess, of adjustment between the older and the new credit conditions Is now 1 ' going on and may last for some time. Hj It will lay the foundation for stronger. j more extensive and better business. HJ I Recognition of these facts should com- pel an admission of the great indus- i trial values, present and prospective, underlying many shares, and should prevent any undue development ofj pessimism growing out of present con- ditions. Tho situation merely calls for j disposition and ability to look forward ' over a period rather longer than is usually us-ually required in slock exchange opert ation3. |