, 1890-12-18
MIR. CANNON RETURNS
Bringing Hopeful Reports as to
the Financial Future of
the Country.
Wall Street Is Calling for an En-.
largement OF the Ciroulat-
ing Medium.
British Gold Is Flowing Here In
stead of to South
America.

Hon. A. NJ. Cannon returned
Tuesday morning from an ex-
tended Eastern trip. He spent
most Of his time In New York and
Chicago. Mr.. Cannon returns
greatly improved in health.
"Were you in New York, Mr.,
Cannon, during the recent financial
panicg" REVIEW reporter asked
last evening.
"I arrived there at the darkest
period of the trouble. ! have been
in New York many times within
the last ten years, and frequently
when times were hard, but never
before did | find the banking com.
munity, and all classes In fact, so
blue and discouraged as upon the
occasion of my recent visit.
"This feeling of doubt and fear
continued for nearly n fortnight.
Then the situation became much
more hopeful and the confidence of
the bankers, brokers and merchants
returned. When left New York,
week ago this evening, the situa-
ton had very much improved. a
large amount of money, about Sl3,-
600, 900 in gold, was on the way
from Europe, This is n certain in
dication that the stringency in
Europe has passed, to II very great
extent American bankers had
balances to their credit In Europe
and they ordered these balances
made good by the shipment Of this
gold to America.
IL was Informed by prominent
English bankers in New York that
the investments of British gold in
South America have almost entirely
ceased, aud that British investors
will now direct their attention to
American securities. The unfortu-
nate Investments of the great house
of Barring Brothers has thoroughly
discouraged investments In the un-
certain countries of South America,
and English bankers will now con-
fine their capital to more conserva-
tive fields of investment"
"What is the general opinion of
New York bankers and brokers re-
gnrding the future"
"Tne day before Ileft New York
visited number of Ae largest bank
ing and brokerage houses of New
York, and consulted their heads
upon the situation and prospect of
returning confidence. Without an
exception the opinion was fully ex-
pressed that the worst of the trouble
was over, and that confidence was
being restored as rapidly as could be
expected under the circumstances
that money was coming from the
continent into London, and from
there was flowing In this direction;
that the bank of England had re-
duced the rate Of interest from to o
per cent, and that there was no
probability of another advance.
Many of them tell that the present
congress would do something TO
help matters, and the opinion
was universally expressed that
there was not enough circulating
medium to transact the business of
the country. Every fall New York
Is drained of its money for the pur-
pose of moving the crops of the
West. This fall there was not
enough money-in other words, the
United States has got more busi-
ness than money. This question Is
being discussed In every hotel lobby
in Nov York city, and the sentl-
meht IS unanimous in favor of
prompt action by congress. This
sentiment was crystallized in the
legislation just agreed upon by the
administration and the republican
caucus, rs reported in to.day's RE-
yIEW.n
Mr.. Cannon narrated a converse
ton he had, just before leaving New
York, with one of the leading and
wealthiest brokers on Wall street.
This capitalist was convinced that
in less than ninety days the very
capitalists who are now boarding
their money would be begging on
the streets for men to take their
money. This broker has been in
business in New York for forty
years, and bears reputation
for great financial sagacity.
"How Is business generally in the
East?n
"Fair. OF course the mild
weather, which is similar all
through the East to that now pre-
vailing in Washington, has made
trade light In certain lines"
"How does Washington stand in
the estimation of the Eastern peo-
ple?'
"Higher than ever before. They
have heard of our remarkable crops,
and wherever went people made
inquiries about the great state of
Washington and its resources. We
shall continue to receive the larger
part of the immigration to til, Pa
citlc coast. That is the general
opinion of railroad men with whom
/ talked.
"While in New York / met
Mr.. Willard, who had just re.
turned from Germany. He seemed
in good spirits, and | never saw him
looking better. He made many in.
quiries about Washington and Spo-
kane Falls, and particularly wanted
to know If we had II good hotel here.
feel convinced that Mr.. Willard
was not hurt, as reported, in the re-
cent railroad changes"
Mr.. Cannon's attention was called
to an alleged interview in Chicago
paper, in which he was made to
talk like death on the Trall,n in
stead of his wcll.known atiablc and
modest manner. EIe laughed at the
imaginary interview and said about
one-iourth of it was authorized aud
the remainder was imaginary.
He He1.lldaf ed tin Gai x q uer of n