Economists, bankers and business men all over the United States declare that 1924 has been the most prosperous of any year in American history in which the election of President took place to disturb economic trends, Reviews of many industries are being published, together with predictions for the New Year, and in no instance is there pessimistic note,—indeed, so optimistic is business generally that one Thesitates to believe that prophecies can be realized.
Many business men echo the senti ments expressed by the President in his annual message to Congress that "under the assurance of a reasonable system of taxation, there is every prospect of an era of prosperity of unprecedented—proportions." Settlement of the German reparation problem through the adoption ut the Dawes plan is widely believed to have removed the greatest obstacle to the economic recovery of Europesupon whose prosperity America is"more or les dependent because of its position a big creditor nation and portant participant in intern; trade. Foremost among domestic factors is the easiness of the money market and the huge sums available for commercial credit. Most stocks fof merchandise are relatively low, railway traffic is at record levels, exports are increasing (though with the Far East, and particularly with China, there has been a falling tendency), principal European exchanges are near to par or heading that way, and several important dustrial and railway mergers are pending. igh prices received for fear rent crops have brought—pre sperity to the farmers and the great agricultural regions, and in many parts of the country an ambi tious programme of hydro-electric power developments is under way.
These are regarded as the outstanding features upon which procperity for 1925 is based.
Text read from the printed page and cleaned; old type leaves the occasional error.