The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1892-07-26
WALL STREET VIEWS.

NEW YORK, July 25.-Henry CIews, in
his weekly financial circular, says, IN part:
at is no light cause of assurance that
the silver question seems to have fallen
into the control of the conservative senti-
ment of the country. The vote of the
house of representatives. controlled as it
was almost entirely by political considera-
tions, was plain evidence that neither
party dared to commit itself to unre-
stricted silver coinage; and behind this
fact lies the stronger protection that each
of the presidential candidates is absolutely
committed against the free coinage here
sizes: which makes any further concessions
to the silver faction in the highest degree
unlikely for the next five years. In view
of this prospect, it seems unneces -ary and
unwise that some of the banks should
raise any objection to paying out gold
certificates to depositors desiring TO export
that metal. If the gold is due 10 Europe,
it must go, and no coDtrivance of that sort
could prevent 1t. The banks may have
the right to refuse payment in gold GER
tificates, but they cannot refuse To pay in
greenbacks, which are a claim for gold
that the government surely would not
hesitate TO honor. There Is such a thing
as conservatism without wisdom, and this
attitude of few banks is Il sample OF it.
At present, we have not reached the point
at which our stock of gold Is in actual
danger, and it can serve no good purpose
TO exhibit such premature fears.
Money. though somewhat firmer, in
consequence of the exports OF gold, is still
very easy, and promises TO remain SO for
some time to come. Attention has been
caled by the press TO the wide current
difference between the deposits and loans
OF the banks, which Is undoubtedly a le-
ultimate indication OF future ease IN
money.
Taxing the situation as whole, and in
spite OF draw backs, the outlook Is certain
( ly for u stronger market. The chief ele-
ments of Improvement are the check given
the silver mania, the practical cessation of
gold exports aud an early Adjournment OF
congress Even should further shipments
of gold be made, they need cause little
concern. because larger offerings of pro-
duce bills will soon BE- forthcoming. The
supply OF these has lately been
diminished by the anti-Option bills,
which influenced foreign buying and
thus stimulated gold shipments, instead OF
agricultural products. London Is also
becoming more confident, European sell
| ing of our stocks having practically
ceased; ana IL would lot be surprising If
the security movement should soon turn
outNards once more. Again, Ii Is to be
remembered that adverse influences have
! been freely discounted. Many stocks are
now selling considerably lower than a few
months aSO, while others, which have
materially strengthened their position,
I have failed thus far to score any advance.
/ The bears are utterly unable 10 dislodge
stocks in any quantities; hence recenI
! stagnatiun. Win low prices. good earn
I iugs and easy money, We have the best
( basis for higher prices. Adverse iotiu-
euoes are always present; but tie lmme
/ dlate future presents as few OF them is
/ could Oe expected at any period.