Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1892-12-21

/ der the continuance of conditions calculate
to operate depressively serves to discoura,
short selling, while the general position do
not favor expectations of any immediate shal
ing toward the better prices which are belle,
ed will come little later on, especially if an
especially trying conditions should overtak
the growing crop, in which event sharp ur
ward movement in prices may not be surpris
ing, however liberal the visible stocks.
| There is fair amount but not especially
liberal volume of corn moving toward the dis
tributing markets. This grain continues to b.
held with much confidence by interior hold
ers, as rule, and quite likely moderate ship
ments will be shown for some time to come
The Chicago market closes &c on December
and &c on May corn higher than week ago.
FINANCIAL.
The following is an extract from Henry
Clews' financial review dated December 17th:-
London seems to be taken by surprise at
the unexpected emphatic expression of public
opinion in this country against the continued
commitment of our Government to the ac-
cumulation of silver. The plain affirmations
of our Delegates to the Brussels Conference in
favor of that conservative policy have also
materially strengthened the impression thus
produced. The result has been steady stream
of London orders for our most conservative
investments; and although these purchases
have shown a preference for gold-bearing
bonds, yet the facts show return of contid-
ence where it had been severely shaken
through our past threatened silver legislation.
The proceedings of the Silver Conference do
not appear to promise any immediate definite |
result. The discussions, however, have I'M
luestionably had the valuable effect of awak- |
ening Europe to the seriousness of the dangers
with the silver problem; of arous-
ng public opinion in England to the necessi-
y of that country doing something really SUBJ
'tantial towards restoring the status of the
white metal; of convincing the European gov
that they must make large, positive
md permanent engagements if they wish to
'scape the threatened dangers; and of satisfy
ng the other governments that it is useless to
nope that they may shift upon the United
states any inequitable share of the response
,ilities that a real remedy must impose upon
ii the great commercial powers. On all these
'ital points, the several governments repre-
ented in the Conference have now reached a
Instinct understanding. This is large gain
owsTds settlement IS It dispss al II issslse |
lopes and all ideas of any nation getting I'M
air advantages or exemptions through dip
omatic maneuvers. The treatment of the
question having reached this stage of clarifi-
alton. it seems probable that the Conference
nay adjourn for few months. During that
'eriod, political influences may bring England
INTO more practical attitude, and direct dip
omatic exchanges between the several govern
nents may mature understandings that will
nable the Conference, when it reassembles,
o reach definite conclusion. Whether that
onclusion may be some really feasible scheme
f bimetallism, or some mere tempoSizing
ompromise that will command no abiding
onfdence. or an abandonment of the problem
s hopeless, are chances which the
vent alone can determine; but, in any case,
he temporary adjournment of the Confer
nee will afford time for more mature consid-
ration and will, to that extent, favor more
ettled feeling for the next few months.
In any case, the United States now occupy
much more assuring attitude before the world
han they did before the assembling of the
conference. 1t is now manifest that, under
10 circumstances, will our Government COM
nit itself to any position that could invalidatr
ur ability to maintain payments in gold or
is sure equivalent. This attitude is so far an
nswer to the distrust that has caused an i'm
nense return of our securities from Europe
within the two last years, that we may rea-
onably count upon the London market af-
ording steadier support to New York from
his time forward. And this, be it noted, is
IN important factor bearing upon the future
of gold between this country and |
europe.