Financial Notes
UNCERTAIN MARKETS.
THE general attitude of financial and business circles in this country to the developments of the Economic Conference has been well expressed during the past week by the hesitant tone which has characterized some sections of the Stock Markets. A comparison of prices with a week ago will show, that American securities and the shares of many concerns dealt in internationally—that is between London and New York— have risen considerably and commodity prices have also .tended upwards. This has been due to the buoyancy of Wall Street, where President Roosevelt's prograinme of inflation has caught on to the imagination of the public, with the result that speculation in Wall Street has increased and prices of commodities have risen on hopes of a trade revival. Indeed, in some directions trade has actually shown definite signs of improvement in America. On the other hand, some depart- ments of the Stock Exchange, notably gilt-edged secu- rities, have been rather dull during part of the week, the reason being that President Roosevelt's programme is regarded with a certain amount of nervousness here where it had been hoped that by this time the Conference would have reached some agreement with: regard to a .temporary stabilization of the leading- currencies. In other words, while America is intent upon a somewhat spectacular programme of raising prices through- credit expansion, opinion here has favoured a more gradual improvement, based upon stable exchanges, leading to a revival in world confidence and a gradual rise in world prices.
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