AMERICA’ S PROSPERITY.

Taihape Daily Times, Volume XI, Issue 3456, 9 April 1920, Page 7

AMERICA ’ S PROSPERITY.

CRACKS‘ IN THE STRUCTUR.E. .......... After reviewing Anlerica’s remarkable prospel'ity. a. "prominent, critic szl.ys:'—-“All very fizie, but tliere is :1‘ I'e_verse side to the picture. Craeksl are beginning to azppenr in our finan—l oinl structure.\ The steel: nmrket is :1 barometer, even lhougli it. does not; always register truly, and it is wobbling. ‘Even the bond Ine,l'ket. is un-~ certain, and, wliile. attractive issues sell with fair rzipidity, there is :1 growing tendency to wait. More people are turning back to the lzinél. Our prosperity is beginning to assmne a hectic quality. The situation is unsatist‘aetol'y. Buying its too feverish; e>;tl':lv:lg:l.l‘lce is unw.holesonle. High. prices continue. with .no sign. of uni u.be.temenl:. The food cost level risesj from month. to month. Hey is 5.57 10/ :1 l ton. It used to be £2. The unpi-o(lue~ tiveness of labour 'eontinu.es. Fanseeing men. lielieve that n <.ll‘:l.\'tiC re» ur"ljustm.ent is much nearer "than it Seellléi. Strikes ezxnnel’ continue without inuterially ui'l.'eat.ing the‘ ‘p111'(-lIns-ing power of the country. I\[:lll_\_' dealers have purclmsed heavily in comnm<li.t.ie.~i which they are holding for liiglier prices. The cl'_V of spendiiig is I Ill':lwin_§_;‘_lo u close. and I\'ll.<2n it is over these shelf—profi+s may be turned into losses overnight. Bank cretlits in some parts of The (soimtry have been stmined to the utmost. to carry 1-lir-nae stoclis and to maintain prices at unprecedented level.<.. T.*‘.normous Sl‘.()Cl\S '01? hemp. l‘ri(.lC':l'.. lC.!ai:'ll-3'l‘, _Q‘l_'ll;,l‘.,‘ rite‘llllf.‘l'S’ meats, anal. teéfiilc-';~: l‘.::.'cc'— ‘.l-een !fl(.’»(',llllltll:Lt(‘(l, and New York «w:lreFliouses are said to hold £50,000,000 [worth of silk fibre. In .-tpite of this lthe price of rslw silk may be sent to ‘£4 per pound.