The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-09-01
IT'S INFLUENCE,

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silver has voted to stop silver purchase.
This is very satisfactory change.
The business world rightly considers
it altogether encouraging. While
there's no assurance as yet that some
thing bad may not follow, while there
is the strongest reason, to believe that
the pass age Of the repeal biU was Sc
cured in part by promises in regard
to other measures which cannot be re
garded with satisfaction, yet there is
the possibility that no other mis- chiev
Gus bill may pass, while the discon-
tinuance of silver purchases is in itself
a definite gain.
1t is probable the effect of this
measure will be much exaggerated in
public estimation. Already it is
deemed by many sufficient reason
for buying stocks and products, and
by others an encouragement for making
loans Though it has not yet passed
the Senate, the great majority in the
House is commonly accepted as assur-
ance that the bill will go through the
Senate quickly. 1t is possible that
this is a mistake, but the impression
silver purchases has been largely SEN
timental, the result Of the apprehen-
sion of business men here and abroad
Gather than of the law itself SO it is
ukelv that the effects ofthe repeal will
be largely sentimental. II the infu-
ence of that measure on capitalists OF
this and other countries is what may
be reasonably expected, material ben
efits will be realized from the vote OF
the House, perhaps before the measure
has been acted upon in the Senate at all.
The magnificent victory. in the
House is peculiarly calculated ITO i'm
press the minds of fuanciers at home
and abroad. The House is heavily
Democratic, but the closest of all the
votes taken on Tuesday, the one on
the substitution of the Bland bill
showed only small majority Of the
Democratic members in favor of thai
course, while the Republicans votedllC
against the renewal of silver coinage
and only Is in favor Of it. The chang
in the opinion of different sections i
also significant. Out of 9S Easter
members of the House 96 voted agains
the Bland bill and only 2 voted for ii
Out of 126 Western members presen
and voting 80 voted against the Blan
bill and only A voted for it. The onl
section which gave the motion a ms
iorlty was the South, andi from ths
section only IS votes were cast again'
the Bland bill and 90 in its favor, an
although chat section rules the Den
ocratic oarty it has not yet. secure
control of Congress.
tits not safe to count too largely G
the sentimental influence Of an
measure. In business matters popul
impression shifts with almost incred
BILE rapldity, and the very men wi
think it wise to buy to-day, becau
silverpurchases are about to be stopp'
by act'of Congress, are liable to sell
morrow, because the issue of ne
Treasury notes is about to be stopp
by act of Congress. At first blush Z
effect Of the repeal bill is altogeth
favorable. In the business world
will 90 far to strengthen confiden'
may release a considerable part OF t
funds locked up, and may encoura
not little buying by foreign inve
ors. On the other hand, it is to be
pected that the very magnitude of
mai ority for the bill in the House "
strengthen the impression that Sol
other measure, not by any means W
or safe, is to follow as part OF
Democratic plan. 1t must also be
membered that an unknown and
large part of the existing disturbai
springs from uncertainty in regard
the tariff, and that uncertainty @
gress has done nothing to remove,
only brings nearer by putting the
yer question out of the way.