New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-27

TO the value than II three years ago. 1t Is not
far TO take the depreciation Of money acting one way
only 1t must be accepted both ways
Having studied as stated the indications that the
Camera makes. would take the opportunity TO enter
into other considerations, it must be advantageous
to exchange ideas between tile Powers the public and
private bodies thus arriving at safer legislation for
the future, determining the mission that each party
mas In the PREPARATION Of what is common Inc causes
Oh the present crisis not purely economical nor
can they all be modified suppressed by any Official
act. some years ago this society and commerce In
particular were victims Of a business fever without
limit, which induced them to accept the greatest
exasseratlons of an audacty which carried them
without hesitation into the most risky trans
actions, all these producing an orgy OF specu-
latlon, which is not necessary for me TO
recall, and we find ourselves to-day forcbly in the
condition that one is always found in the next day
after an orgy, with tired body and anguid mind.
That blind confidence has absolute mistrst
The great illusions Of the masses, the most daring
spirit OF enterprise has turned into the most absolute
stagnation. Yesterday everybody endeavored TO
maintain that illusion, pushing through without exam
inaton anything they might conceive; to-day all work
to Increase the deception and the doubt and anything
that tends TO aggravate the situation is Immediately
believed and circulated with the spirit of madness to
further darken the picture. An imprudent word, an
unounded rumor Is sufficient for tbs muttudes to rush
to the banks without stopping to consider the catas-
uophe TINT this can produce even in their own In
dividual interests, and blind and deaf in the mad rush
continue, guided by the selfish of their individual
concern. Was there any motive for doubling the sol
vency of tho banksl None. Then what the
cause7 1t is the morbid state Of our a like
phenomenon has been witnessed large armies when,
beng In nervous condition, ono single shot has
been sufficient to produce general confusion and
defeat Capital full Of fears Is hidden the savings once
alarmed are mealized and guarded gold advances be-
cause 1t becomes scarce and is withdrawn because 1t
advances. All the efficient forces that could be moved
by Official action are retired, while everybody cries for
such action But with trembling soldier, we cannot
conquer nor assault positions win battles. What
move With laws and DEGREES, institutions ard cap
tal cannot DO created. There is but one remedy
and that is resolve to recover our minds, 10 unite
all efforts, 10 have faith In the vital forces of the
country, and to start on tho road together with the
assurance that there is cloud without silver lining
and that commercial action is efficient 20 arrive
Let us sec for moment 10 what situation condition
this very crisis is bringing Us. Commerce almost par
tiOn possibly not over 5j5.0OO,O0O this year. The
service Of indebtedness suspended, the ceiula tax
greatly reduced-not paying this year than
S70,0O0,0O0 S50,O00,OO0. II nothing extraordinary
occurs, if the present year is simply normal one,
IL promises to be, will have IN the next six eight
months the value of $50 100000 10 $140,O00000 in
products export What Will be the consequence of
this balance IN our favor! Any can rectify the
figures and see what is logical to expect. II to-day
will be the rate when We come 20 draw for all that
producti0nl Far from being obscure our immediate
futtre is clearing without being over optimistic, it
can he affirmed that the danger will soon begin to di
miush and that the general discomfort and want Of
confidence ill-fOnnded.
The Government is asked for financial plans as II
there -ical combination that could change
from day to another the general situation Of things
The Government has rot outside of the general eco
nOnical plans other financial schemes than those
already announced, which are as follows; 10 new
Issues, no forced bans. and the creation Of bank
with fresh capital 10 regulate the circulation, 10
establish credit. and TO put In motion commerce and
industry. What will this bank he ? such rs
may be demanded by Its founders for the general in
terest Of the nation. Had there been offer made
two years ago to establish large national bank
millions would have been demanded for the same,
when to-day It IS offered gratis. when the prospect Is
much better. since any institution should be prosper
proportion TO the necessities that bring il into
existence. There numerous projects for the
formation OF the bank but what I need 10 complete
th, dish Is not recipes for the gravy, but the meat
Itself. Gather the capital and will know how 10
make the gravy to the taste Of the consumer that is
my aim. and win succeed with the aid Of commerce
Let an say and repeat that the crisis IS over and
everything Is going to improve ard tomorrow
will look each other I'm the face the same those
who rush to the bank look at each other now asking
each other what frlchtens them. With best wishes
Of your President and just consideration