The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1891-08-25

London Angus Ibe Gau
u the Bank 81 Eg4aaa
Liddtrdale has consented esr
statement d Che pu1lt lf9 H
ilerald IN consequence 81
my stories III Amefgu aH
continent 10 Tie efiat ths
fnaneial crash is Scar 81
that the British buuk a
let the full situation hy sW..
fear that il would presp.a
throughout the world lue-e
have been growing ID Hau-ty a
tie embarrassment uf Ne
ing Brothers q few months a2s N
Lidderdale Is the official psn
British finances aud h at.aa
probably the aAly one tHat IS l-l-- "a
accepted as beyond suspicion a1
beyond dispute ! saN Alr ldaet-
dale at the bank, and after listening
to me he said
II wish to say emphaljga.A taat
there is no basis for tbe report el
a great financial disaster IS .WpaI
ing in Great Britain II #aN
untrue that any impoftaHr
house is Ia danger save oue aaa
affairs Of that one are NOW FEB a
As for the chartered huk tlty
are all sound, SO fan gs ] Hua.
There have been grcaJ .os-ut ii
true, but these losses haHe UH
spread over large numuer oi H
sons, and As rule Che LOSSES Nae
been already met and paid, ie0g
the losers poorer, but sun o}aaL
There will be few iWlur-, n
course, but none Of any Impotence
none that could affect The money
markets.
The result Of the grcag Iass .u
South America and elsewhere Hl
been to bring people To tbeiH
Speculation has completely -tdWei
The difference between the WIdae
of last year and the depl a n
this is the difference between convex
and concaye whore there wls HHI
there is now hole The people are
poorer and wiser; that Is the u4tA
of the matter. The talk about l4e
coming panic Is uufounded, There
are two ways in which losses sau
come upon the market one Is ihe
acute form Of panic, the other lAs
watered form, dullness, lack "a
speculation and dislrust A said
before, the losses are already known,
and, in most cases, already HaN
One Of the good results Of the }HHl-
Gates, trust companies and lu ae
is TO divide LOSSES among tAe uN4-
tude and so prevent crashes,
1t would not be fair to quote Ar
Lidderdale too particularly, but he
gave me many details during Qur
conversation showing that the iipaa-
cial situation is sound ! 0m ln q
position TO say on my own respQnsi-
bility that the Barring Brothers occq-
py strong position. When tbe
Bank Of England took The affairs "A
that great house in hand ~ Iiabli-
ties were about f22 QoQQQQ Az
present Barring Brothers owp le-s
than half a million pounds although
there Is liability 10 The iia0k If
England Of II ,QQQ,QQQ, lt islil-
ity, however, ~ 20 way cQpcerps t4e
public. The Barpgs' affairs were
found TO be ip ap entirely solvent
condition, q mere matter ~ ge.ti9g
| time.
The wonderful Thing is lbqt hus-
sia did not strike . blow at F0alapd
by Withdrawing gold during fhe p4st
few months, II Is t4e paliey N
Vicbpegradsky, the Russian 1l0IsioT
Of Finance, 70 keen vast qqaqNHp7
Of gold Qp deposit jp Epglish Ag4 ct
lie can, at Q critical Hpe, fQle} lle
bankers 10 assist tle RqsiaQ iqlGs
by threatening tq YilAdraR gH qg
elRbarrass EpRlqpq by gFalp4
panic, This was lbp qHI5 eFeH
sbadoYipg danger i4 tbe pnegt
crisis, Now tRqt iss4s Ra heeA Hel
and Rpsslq eqpld POI RFjHg 41Wi
crash even II skE wIzled