Current Situation

With the advent of summer, the recent slackening in the activity and volume of business in general can be set down as normal for the present season. What is really troubling those business men who are looking further forward than the very satisfactory status of things today, however, is the probable situation to be faced next autumn.

Of money inflation today there is almost none. But inflation of land and real estate values, inflation of wages, and a general inflation in prices produced by inequitable and excessive taxation are obviously factors in the present situation. Sudden liquidation through a collapse in any of these is quite improbable; a gradual dying out of the present boom is more likely. Such an outcome the fitful ups and downs of the stock market today are apparently reflecting some distance in advance of the event.