The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-05-29
THE INEVITABLE CRASH.
Pessimistic Prophets Foretell It's
Coming About the First OF
Next Month.
Likely to Be Precipitated by the
Methods of q Russian
Financier.
Sorry Lot OF the American Promoter
That Business Ks Terribly Dead-Its
Revival ProbIenR Rtical.


this week the Paris bourse has been fever
ish and full of disqueting rumors. Pes
simistic prophets foretell an inevitable
crash when the Portuguese account comes
to be settled at the beginning of June.
French bankers have managed to scrape
through and place their third of the loan.
but there is a wonderful lack of confidence
in Portugaps condition, as her people have
been taxed beyond endurance and her Dor
rowing capacity is exhausted. Trouble is
expected among the German banks who
have failed to place Portuguese stock which
they contracted to take and for which they
must pay. Rumors have even asserted
that Barons Alphonse and Gustave do
Rothschild, of the Paris house had quar-
relied over questions of policy, and would
dissolve, which report now takes the form
of statement that Baron Gustave has
ceased to actively concern himself with the
firms business through ill health. Spain is
in trouble and has proclaimed its pressing
need of $2o000,o0oo to pay for new railways
and new fleet. Italy is even worse off With
Il deficit of millions, as the last drop has
been squeezed out of the popular orange by
over-taxation. while the worst sign of all is
that each tax brings in less than before.
Customs receipts in April alone were
81, ,O00,O 600 less than the minister of finance
ha calculated, and the poverty and misery
of the people, thousands of whom are in
Rome without work or bread, are port ent-
GUS.
All the Latin countries, in fact-Euro-
pean and South American-seem to be more
or less in trouble, and quite equal of them
selves to bringing about great and phe-
nomenal crisis in the money market.
Strange to say, however, they are likely to
be assisted in this work by the queer finan-
ciering Of nj. Vishnegradski, Russian minis
ter of finance. Nj. Vlshnegradski ever since
he assumed Office has had one ambition viz,
to swell the value of the Russian ruble
This, by the aid of French 1inanciers and
through buying up Russian paper. ne has
succeeded in doing in spite of the bitter OBJ
jections OF all the exporters and manu-
facturars of his country. Vishnegradski,
having now by fnancisl ehicanery
raised tho valne OF the rhb'e and
of Russian securities to degree
entirely unwarranted by any increase of
commercial prosperity or any certainty
of peace, is struggling tooth and nail to
maintain his position. ana if he is forced
to withdraw all the $65,0oo, 900 which Rus
sia had until recently in London, and
which he has begun to draw upon, will
probably bring about with n crash the over
hanging panic. AT any rate all financial
talk is gloomy, and the monev crisis has
entirely put III abevance any possibilities of
war for some time to come.
The troubles of nations are not particu-
larly melancholy. but their results in Lon
don have been highly disastrous to an indi-
America are Interested. This indi-
viaual is the promoter. 1t will be
learned with grief in New York
and regret in Chicago and pain in out
lying districts that the promoter is in very
bad way. A year ago there were thousands
of him here rolling in money and bathing
in rosewater and milk OF morning. He
wore four-shilling orchids in his button
hole, gave dinner parties at the Cafe Royal,
whereat he inflated himself generously
with "a champagne as preparation for a
fifty dollar limit in the small hours. He
was the central figure In every city restau-
rant and every West End smoking room.
His patent for making bricks without an
atom of straw, his mine that had not vet
burned down and his pavement that had
not yet blown up were being swallowed by
the ever credulous British public with raw
of American soil nothing could compare
in etfulgence of growth and luxuri-
ance of foliage with the promoter Now,
however, he is sad. He is wearing his last
summers overcoat. He has given up his
house or his fat and he talks blankly over
his whisky and soda of Mashonaland,
Utopia and the Celestial City, all of them
places in which there is runor of the dis
covery of that gold which is so painfully
absent here. He is ready TO go to any or
all of these places at once, aud if Messrs.
Moody and Sankey or any of their con-
freres. should now start revival meeting
based upon st. Johns glttering vision Of
would certainly be killed in crush for
front seats.
The promoting business. in fact, is terri
bly, dead. 1t was extraordinary while it
lasted, and took an enormous quantity of
British gold to America for Investments
good and bad, but it's day is over for year |
at least, and its revival is very problemati-
ral