Business & Finance: Current Situation: Dec. 10, 1923

An irregular stock market showed tendencies after Thanksgiving of turning dull. But the attention of the business community has for the time being abandoned Wall Street and other financial or trade centers, and has concentrated on the gathering of the new Congress in Washington.

A divided Senate and House, with a small group of radicals holding the balance of power, as well as a danger of Drastic changes in the committee chairmanships, have for some time past given concern to business interests. Such important questions as taxation, tariff, railroad laws, farm credits, are ‘due for consideration this session, and the domestic legislation which will be forthcoming should exert an unusually important influence on the course of business for coming years. For 1924 is a Presidential year, when political timidity is at its height, and when unsound and even publicly dangerous legislation can on occasion be jammed by force upon the statute books.

President Coolidge has, however, the almost universal confidence of the business community, and his unusual power of silence has so far won him respect and trust rather than fear or misgivings. If vetoing is required, most business men believe he can and will veto.