New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-08
TIMES SURE TO BE BETTER
BANKERS, MERCHANTS AND OTHER PROMI-
NENT MEN PREDICT PROSPERITY.
GENERAL BELIEF THAT THE WORST Is Oven
AND THAT TRADE WILL SOON BE IN
NORMAL CoNDITIoN-oPINIoNs


There are many bank officials who do not believe
that financial and Industrial relief is to come "a
the country through the repeal Of the silver purs
chase clause alone. Naturally, however. ofhceroj
OF banking institutions. who count men OF all,
political parties In their lists OF depostors. are In
disposed to have their names appear as advocates.
OF any particular system method OF political.
economy The views Of a number OF these men have
been obtained by Tribune reporter. One promi-
nent banker In speaking OF the condition OF AFFAIRS
voiced the sentiments OF many Of his colleagues IN
the following words: I'm my humble Judgment,
honestly and frankly expressed. the repeal nom
repeal OF the silver purchase clause has little to
do with the present situation ] believe that the
fundamental cause Of the existing disturbance IL
the uncertainty respecting the treatment Of the
tariff by the party now In power: and until that
question is settled by the vote OF Democratic
Congress and the action of a Democratic President
permanently improved condition Of things can.
not be realized or even expected"
Ex-senator Person c. Cheney Of New.Hamp-
shire also former Governor OF that State and until
July last United States Minister to Switzerland un-
der President Harrison's appointment. when seen
bv the reporter at the Fifth Avenue Hotel. said
that he pleased to express his qualification at
the evidences OF Improvement which mani
Tested within the last few days IN business circles.
This had been especially true since the repeal OF
the Silver Purchase law became practically cer-
| tain
vThe effect on the other side OF the water will
be excellent" said the ex-Minister, land will re-
store the confidence In American securities. which
received severe shock In all the great money
| centres OF Europe when the panic began.
Another thing which will operate favorabiy for,
/ US is that the balance Of trade will be largely In
our favor. Our purchases Of foreign goods have
been very light this year. while our exports OF
wheat corn. hay and all agricultural products
are heavy and will continue to be So owing to
the drouth which prevailed In a great part OF
Europe. causing a great falling of In cereal pro-
ductions Light imports and Increased exports are
bound to tell In bringing the flow OF gold TOWARD.
US.
Besides the reduced imDortatons Will certainly
have some effect In discouraging the Democratic
majority in Congress from attempting reckless
and wholesale interference with the tarin TO raise
enough money to support the Government IL may
be necessary to maintain duties. instead OF re-
healing them and to reduce the free list unless
the party In power is ready to adopt policy OK
ncreas ed internal revenue taxation. which must
necessarily prove very unpopular
Controller Myers said that the evidences Oh ~
turning confidence and a resumption OF business
operations were many and gratifying. RMS I'M
proved outlook is mainly due, think" he said. TO
the probability OF the repeal OF the s!lverpurchsshS
law which we can now look forward to as almost
a certainty The actual repeal will bring CONSTANT
ly improving conditions In all the avenues OF conn
MERGE The return Of confidence IN business reia'
tions is In sight The banks are In uniinpaired con-
dition Those who have been boarding money Will
be anxious to put II to work again. and with easy
money merchants and dealers who have been ouy'
ing snaringy will begin purchasing larger stocks
Returning confidence Is shown In the stock Market
and the tendency Of prices is upward. ACTIVITY IN
ALL directions will take the place OF DOUBT ana
uncertainty Business Of almost every description
will I feel assured, soon be humming again
Three members Of the Rapid Transit Commission
talked freely on Wednesday about the nnanciai
situation. william II. Stenway. president OF the
commission. said to a Tribune reporter: we naVo
ma ssed through the worst Of the financial depres-
sion It has been a experience In my par
tic,lar business we have been more fortunate man
those who engaged In other lines OF IN. Tbev
ure Manufacturers have suffered terribly. Inex
have been Obliged to keep an advance stoeH n,sno
to renew credits for their frends IN ,mnoptant
business however, there have been no I .npyys
failures My firm has kept all IT'S men , npoi the
The worst Is over II Congress Will onIy IcpcdsncS
silver purchase act times will improve rann the
naces where II has been boarded Ia rev no mnw
Money Is bound to be much easier than u Is nTM n:
The outlook in the piano trade Is ,rom Trouble
trade has been So was appointed TO n the
vacancy the hsss OF reasons ca for
psnSs said ~, u , sayi sh has
iw Tor The better In the bank win Tn,o s.us1
Connected I have observed TINS Ma an exceiient
repeal Of the sherman rinS nav easier every day. II
a few weeks business, pehe'e' w"
lis normal condition =, ..r.,L doos not amount
John H. t tnmpn are are more reliable The daily
10 m s a., the resumption OF business IN inc IT."
trade are very sncou Tasiaiy tham il was In IS
festorse su months business Will believe. pe In
nnnrmai condition again. There " a.t,,ng hett"r
provement noticeable now ana |" Us s''''"s