The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-01-10
FEARADEBASED DOLLAR.
THE SILVER QUESTION NOW THE
CLOUD ON THE HORIZON.

The Opening OF the Year Marked by
the Expected Improvement in the
Money Market-The Curtailment of
Credits Still Severely Felt, However,
in Many Lines.
New York. Jan. ar G. Dan & Co. .
weekly review Of trade says: "The year
opens with the expected improvement in
the money market, and in collections re-
sulting from the annual disbursements,
which have been larger than usual A
hopeful feeling In most branches Of trade
continues also, and the railroad outlook is
improved. But in spite OF this there has
been such selling Of securities on foreign
account that exchange has advanced
81 $40 last week to 81 S6J<, the legislative
prospect is regarded by many with apprs-
hension. and the situation in the iron and
cotton industries is not satisfactory. The
prices of some products in both have been
Aurther reduced, and many works have
stopped for the time. The curtailment Of
credit, which the monetary uncertainty
causes, is therefore severely felt in these as
in other branches Of business.
THE ONE GREAT OBSTACLE
'tIt is becoming clearer every day that
the one great obstacle 20 prosperity Is the
fear that debasement Of the dollar may pro-
duce violent contractions, withdrawal OF
foreign investments, the collapse OF credits,
and disaster which IS I'll be felt In every
branch of trade and industry. Iron and
steel manufacture has been so rapidly ex-
tended that the shrinkage Of credits has
forced sales in many cases at prices below
cost Hence works producing rails and
other finished products are now idle, whose
monthly consumption Of pig iron is esti-
mated at Isl, 900 tons.
DIXIE SELLING CHEAP.
ssSales of southern iron at very low prices
have been sorely felt in the central region,
and twenty-three furnaces IN the Mahoning
and Chenango valleys, producing $1,000
tons per month, have stopped or contracted
to close Jan. 10, until better terms for ore
and coke can be secured But the coke
workers threaten strike for higher
wages at the same time, and the
strike of the Alabama furnace work
ers has stopped many works, so
that the decrease in production is supposed
10 be fully 10, 600 tons monthly. Rail pro-
ducers have come to no agreement, and
S27 so Is named as the price which would be
accepted by some, while bar producers are
searching for orders, and there is little
business in plate or structural iron. On
bright than it has been for many years in
this industry.
COTTON MANUFACTURE.
SIN cotton manufacture also, the shrink
age Of credits has severely strained many
concerns, and the prices OF goods have been
very low, but further reductions have been
made during the past week in bleached cot
tons.
"The wooden manufacture is doing fairly,
though extending but moderately, and tie
buying of wool is with caution. They get
in the main only last years prices for goods,
and wool has fallen about cents per pound
since November.
BOOTS AND SHOES.
SIN boot and shoe manufacture the OUT
look is regarded as especially favorable.
The reports of the trade from different
cities are still much influenced by the results
of last years great rise, but generally indi-
cate large volume of traffic in progress
for the season, with marked Improvement
Stree the monetary pressure abated. At
PhiladelDhia the leather and shoe trades
are dull and retail purchases are confined to
evening up sizes.
wool is in little demand; some uneasi-
ness is seen regarding obligations in tobae co,
but better collections in paints.
HIGHER COTTON.
Higher cotton produces greater activity
throughout the south. The sugar and rice
receipts at New Orleans are good.
1.-THE money markets throughout the
country are less stringent, and the reports
Of collections more favorable.
Speculative operations continue whole
somely inactive.
Foreign trade continues favorable, the
exports showing q large gain over last year,
while there is some decrease in imports.
1.-The weeks failures number 375. For
the CORE sponding week Of last year the
figures were 1884,