The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-09-26
BANKER CLEws' VIEWS.
Tho Financial Outlook as Seen From
Wall Street.

seen
Wall Street.
New York, Sept. 2i.-AlthouRh at the
moment, the silver question appears TO be
comparatively forgotten, yet 1t would be q
great mistake to assume that it has been
permanently shelved. On the contrary.
there is much reason to anticipate that il
will prove the most potent factor Ia finance
at no distant future. At present the con-
troversy Is quiescent, because it has been
referred to jury, chosen by the leading
governments, 20 say what, if anything, can
be done TO restore silver to its proper status
ss one OF the money metals. But what IL
shat jury should never reach a
be rendered against restoring to
the metal Its lost powersl As the period for
the assembling of the conference draws
nearer, the chances of eny helpful result
seem to become less promising. According
TO such limited intimations as escape from
official quarters, the probabilities appear TO
be mainly two, which are equally possible
and equally fatal Our advices from high
sources in London gives considerable oredl~
bllity % the report recently put forth by
the agent sof the associated press in the
British metropolis that 10 is very doubtful
whether the conference will ever assemble
Premier Gladstone, there seems Co be no
doubt, is inhexibly opposed to any repre-
sentative OF England taking part in any
discussion that contemplated "a change in
the monetary standard of Great
britain" This phrase may seem some
what vague, and may lean a great deal
TO conjecture as to what that country would
refuse 20 accept; but it may be taken as a
rule or Interpretation ordinarily applicable
TO Mr. GladstOnes uttsrances, that when he
IL most vague he means most. 1t is reason
able to expect from Mr.. Gladstoae's mast
utterances on financial matters that he is an
unqualified adhereut of the strictest school
OF single standard men. Mr.. doschen and
his chief have shown themselves to havo
strong leaulngs toward the Manchester
double standard party, so much 80 that
there Is no question thev would have gone
much farther In helping the restoration of
silver than can be expected frCm the new
premier. Under such cirumstances, tho
conference, If IL meets at all must meet under
widely different auspices from those exist
ing when the United States issued It's invi-
tationa. Fresh explanations and stipulas
ti0ns are TO be expected from the British
government, and IL seems inevitable that
those statements should go before the other
participating powers previous to determin-
ing the time and place Of meeting. Such
interchanges could hardly fail 30 bring out
the fact that nothing to the purpose could
DO expected from EugiandS corporation.
IL all Is true that we have so Oft heard
about concession and corporation from
England being absolutely necessary to anv
ameliatory action by the other govern-
ments. it certainly seems highly posi-
bic that Mr. Gadstone's attitude
might cause an abandonment OF the
whole scheme. And even should the con
ference assemble. hardly anything better
than failure could be expected as the out
come of England's attitude; for England, il
is universally assumed, would be followed
by Germany. We thus have to face a
probability that, in few weeks at most, all
hopes OF restoring silver through an tutor
national union may have been abandoned
That result would DO tantamount to fixing
irreVccably and for a prolonged period the
depreciation and the instability OF this metal.
The doom Of silver would be sealed, and the
grave problem would be forced upon tho
United States how most quickly to get rid
OK silver and put its finances upon the single
gold basis