The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1891-06-10
FINANCIAL AND INDUSTRIAL.
Funds Fairly Well Employed-Fair Prices
Expected for Produce.

From one end Of the country to the
other business Is seasonably active, and
the general outlook is exceptionally
bright The month Of May is always
richer in prospects than in results, how
ever, and this year it has not violated
the time-honored rule, says the Inter
Ocean
In negative way a good Deal OF
ground has been gained. THE usual
labor disturbances have proven remark
ably insignificant outside the iron
regions Of Pennsylvania, and even there
final settlement has happily been
reached. The enemies OF the grain
crops have not carried on their ordinary
work of devastation in the principal
agricultural sections, and the European
consuming markets have not spent q
very great amount of money or energy
In depressing the prices for our prod
uce.
Then. again, the United States has sent
nearly $40, 000,0 00 in gold TO Great Brit
ain and Europe during the past month
without causing the slightest semblance
Of financial distress In this country.
When resumption occurred the Treasury
held $1l4, 100000 in gold, besides that
held for certificates outstanding, and
that was all the gold apparent in the
country; now there is about S214, coo, 900
in the Treasury, and about $500, 600, 900
In circulation in the country, or was May
i. Russia's seemingly Unsuitable de-
mands for the yellow metal are yet quite
ineXplicable to fnanciers on this side OF
the Atlantic, and no satisfactory excuse
for their continuance has been made by
foreign bankers. This enormous gold ex-
port from New York has had O strongly
tixrn ft,H bAt hA
speculative and legitimate interests and
served to keep loanable funds fairly
we'll employed at profitable rates of in
terest.
But the chief end Of this peculiar con-
dition Of financial affairs will be one of
great profit TO America. 1t will demon
strate to the world at large that the
United States is nation Of immense
monetary resources. as well as q land OF
unparalleled powers of production. The
apparent ease with viii IN our markets
have absorbed the tens Of millions OF
American securities that foreign holders
have returned US since last autumn has
given them higher place in the estima-
tion Of investors abroad than whole de-
eades Of wise and honest administration
and any amount Of handsome interest
bearing operations would do.
LaSJ November the great Bank OF
England was forced to call upon the
leading financial institution of the most
prominent republic OF Europe TO re-
lieve its pecuniary distresses and in
order to avert a worldwide panic. For
more than month now the proud old
monarchies Of Great Britain and Europe
have sought monetary aid and support
from the most prosperous republic of the
"New World" There are in these two
statements q decidedly significant sgg-
gestion 20 the subjects OF kings and
princes, and one not unworthy OF con-
s;deration by some of our own dissatis-
fed people
In another direction the course Of
events abroad of late has been of benefit
to Americans in a prospective manner.
The French Government has reduced its
duty on wheat for the period of ten
months. from August, 1891, to June /,
1892, while the Chamber OF Deputies has
passed n bill providing for the storage o
grain in every fortified town n France
sufficient to feed ell citizens for two
months in case OF war. The Municipal
Council at Berlin has also voted in favor
OF suspendng the tariff on cereals.
In the meantime the weather has gen
orally been favorable TO our growing
grain crops, and general business has
been conducted in healthily active way
for the season. Even the iron trade has
developed symptoms of expansion. Spec
ulation is well within bounds everywhere,
and the situation is exceptionally FREQ
from pyrotechnics in all quarters.