Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1873-04-24
Horace =. ClN0ln,s views - ne Ffn9S.
cial ana Commercial e1tnatien.

From the New York Indepeaasntl
In the present condition Of buisness
affairs we thought our readers woula,
like to know Mr.. Clanin's views 81
current financial and commercial &op-
les. The following answers to qAes-,
tons propounded to Mr.. Claflin BY the
editor of the Independent, will inter-
est every merchant and banker in the
country:
Qucstion-Will you give mo the facts
SO far as your knowledge extends, In
regard to the money market in differ
ent sections Of tho country?
Ans.-Money is very tight indeed,
in every section.
Gin consequence of the severe
pressure here and elsewhere, are coun.
try merchants moro cautious than usu.
al in buying goods?
A.--They are much more cautious
or conservative than usual.
Q.-Have the merchants thus far
paid up promptly?
A.-They have not paid a. prompts
| Q.-Is the jobbing trade Of New
York as large in the aggregate this
spring as In 1872?
A;-Ine trade of New York is now
much smaller than usual at this season
of the year.
Q-Does tho high price of gold
change the price of goods?
| A--No material advance has occur.
red thus far. 1885,.
Glow 90 manufacturers Of do
mestic goods seem to feel in view of
the present financial condition of the
country!
A.-.They manifest a good deal Of
uneasiness. stts
/ Q.-Is the market overstocked with
goodsE
Al should think not, as general
thing.
Are many foreign goods now
sofa AZ anctlon q
A.-Ihe sales, 4 should say, were
very large.
Q.-Do you think there is at present
bank circulation sufficient to transact
the business OF the country?
Al should say not, considering
the great and rapidly increasing bus.
mess.
Q-What, in your opinion, should
the government do to promote the
pest interests and prosperity ofthe peo-
pie?
i A. 1t should lend its aid to relieve
the money market In time of extra.
ordinary pressure; particularly If that
pressure occurs in the early part of any
business season.
NO you THINK the price of gold
Will go higher?
Al cannot answer that question.
Spectators control all our gold out
side of the Sub-Treasury.
| Q.-ls the country, In your judy
ment, in q sound condition.
Al think 1t ls.
| Q.-Do You fear panic If money
continues tight, as at present?
Al do, most certainly.
Care the merchants of the conn.
try, as class much extended?
A.-Not to very dangerous extent
think. -
| Q.--Do you regard the banks AZ
sound and beyond the reach OF dan
ger? - : :
Al do most certainly. 7 appre.
bend no danger from that quarter.
Q.-Are the railroads OF the conn
try, in which hundreds Of millions are
invested, doing a prosperous busi.
ness? 'e'
Al think thew are az whole do.
ing an excellent business.
O--Do Won believe the busincss mon
of New York (tlle merchants are now
as q whole, making money?
Al do not; am very certain that
they are not. They have not, as a class
:! been making anything since the ti0ht
money market, and contractions com
menced last fail. E9T e. i -
Q.-What are the prospects in re.
gard to the summer and fall trade?
A.-They are not at all promising At
present but on an easier money mar
ket things might mt once look MP.
~ Are many failures occurring in
the country.
A.-Considerable many in the ag-
gregate.
40 yo tnink our national banks
should DC required to keep o reserve
OF twenty-five per cent to secure their
circulation!
Al no 'hot' Ineir circulatlon 10
amply secure without the reserve.
1helr Dlli-noiders cal not suffer.
Nv nat are your views In regard
70 the matter OF free banking, so-call-
Gu.
Al iully peiieye IN free banking.
~ IS me true principle ana we must
come 70 "; :.
MI. Eialin, WIN you tel me why we
cannot IN some way properly control
.he finances Of tins country, and keep
mem more STEADY, rs they DO In En-
giahd
A.-Wcl, J! would De very easy If
We nad the Glsposi.ion. just look 1T
-. Inc Wnole business world ls star
tleu wnen ING BANK OF England ad-
vahces us rate OF interest nall per cent
per annum, or from -FOUR to four and
nan. ana yet the rates for money in
lnls country may advance from seven
per cent 10 auU per cent ana no..
Do9y ever moves mar, ana nothing
very discouraging to business men.
nSse spgI.ia.oIs anu usurefs, VINO