The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-12-19

SuEpEls6 ~ buo uuSAlSGkSA SLhp hobIS
expression Of public opinion in this
country against the continued commit
ment OF our government to the accum-
ulation Of silver. Theplai afirmations
ofour delegates to the Brussels confer
ence in favor Of that conservative pol.
icy have also materially strengthened
the impression thus produced. The re-
suit has been steady stream OF London
orders for our most conservative invest
ments; and although these purchases
have shown preference for gold-bear-
ing bonds, yet the facts show return
OF confidence where 1t had been severely
shaken through our past threatened sill
yer legislation.
The proceedings Of the silver confer
ence do not appear to promise any i'm
mediate definite result. The discus
sions, however, have unquestlonably
had the valuable effect of awakening
Europe to theseriousness OF the dangers
connected with the silver problem; OF
arousing public opinion in England to
the necessity OF that country doing
something really substantial towards
restoring the status Of the white metal;
of convincing the European govern
ments that they must make large, posi-.
tive and permanent engagements II
they wish to escape the threatened
dangers; and of satisfying the other
governments that it is useless to hope
that they may shift upon the United
States any inequitable share OF respon-
sibilities that real remedy must i'm
pose upon all the great commercial
powers. On all these vital points, the
several governments represented In the
conference have now reached distinct
understanding. This is q large gain
towards q settlement; as 1t dispels all
false hopes and all ideas OF any ma
ton getting unfair advantages or
exemptions through diplomatic maneu-
vers. The treatment of the question
having reached this stage of claritica-
ton, 1t seems probable that the confer
ence may adjourn for few months.
During that period, political influences
may bring England into more practie-
al attitude, and direct diplomatic ex-
changes between the several govern
ments may mature Understandings that
will enable the conference, when 1t
reassembles, to reach definite conclu-
sion. Whether that conclusion may be
some really feasible scheme OF bi-met-
aliism, or some mere temporizlng
compromise that will command no
abiding confidence, or an abandonment
OF the problem as hopeless,-these are
chances which the event alone can de-
termine; but in any case, the tempora.
nv adjournment OF the conference will
afford time for more mature considers
ton, and will, to that extent, favor a
more settled feeling for the next few
months.
occupy much more assuring attitude
before the world than they did before
the assembling OF the conference. 1t is
now manifest that, under no circum-
stances, will our government commit
itself to any position that could invall-
date our ability to maintain payments
in gold or its sure equivalent. This at
titude is SO far an answer to the dis
trust that has caused an immense re-
turn of our securities from Europe with
in thel two years, that We may rea-
sonably count upon the London market
affording a steadier support to New
York from this forward. And this, be
it noted, is an important factor bearing
upon tho future movements Of gold be-
tween this country and Europe.
Wall street has now had five weeks
for observing tho effect OF the election
upon the industrial and commercial
feeling of the country, aud 1t eau hard
~ be said to have discovered therein
anything calculated to excite serious
apprehension, other as respects the
ultimate effects Of the now policy or the
interval Of suspense before 1t goes into
operation. It is felt that tho present
general prosperity of the country ale
fords o special protection against any
immediate arrangements Of business;
that although certain interests which
could never hayo existed apart from
protection must be expected to suffer,
vet there are many more which will
lind ways Of adjusting themselves to the
new conditions, aud still Others,
specially dependent upon the export
trade, that may properly expect q large
and profitable expansion. Beyond all
this, comes in Wall Streets confidence
in tho energy, sagacity and resource
Of tho country to adapt itself to any
conditions that may DO forthcoming
and to force its onward march towards
the commercial supremacy OF heworld.
On the whole, therefore, 1t seems safe
to assume that Wall street will take no
serious alarm at the impending COM
mercial changes until tho occasion be-
comes nearer and moro real than 1t
seems at present.
The railroad situation Is, on the
whole, assuring. The November gross
earnings show an average gain OF about
q per cent over the unprecedented
movement OF the same month Of last
year, which in view OF this years small
err crops Is more than was expected.
The roads have some reason to hope for
alleviations OF tho embarrassing inter
ferences Of the interstate commission,
alike from the tenor OF recent decisions
Of the United States supreme court and
from ameliorAtions that some expect to
be granted by the new Congress. The
construction Of new lines is still kept
within strictly conservative limitsi
which Is one Of the most hopeful feat
ures OF tho situation, for the competi-
ton from an over-supply OF now roads
created in advance Of public require
ments has long been the bane OF rail.
road Investments.
For theHemainder Of this month tho
stock market Is likely to show the eff
fects Of thesettlements aud the balanc-
ing OF accounts that always attend the
close Of the year; after which will oome
the usual buying for tho Investment Of
the years earnings and the reinvest-
ment of dividends and interest, which
are likely to exceed those OF any pre-:
yious wear. HENRY CLEwS.