Too Much Money

Col. Leonard P. Ayres, Cleveland statistician, sees the U. S. economic condition in the round. Said he last week: "There is evidence that the savings of the American people are so enormous that funds are pressing for investment on every hand. The question is, where will these funds seek employment?" Careful preceptor, he explained that surplus money might be spent on 1) plant extensions, 2) building construction, 3) real estate speculation, 4) commodity speculation, 5) security speculation, 6) foreign investments. These outlets, as far as they are honest, have been practically filled. Therefore, the too much money that remains presages "a pretty good business year because we have this very ample store of easy credit at a time when business is active and healthy."