Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1893-07-13
improved Business Outlook.

Ihe business outlook has vlelbly
improved during the last week and
there is every promise that the inns
rrevement is substantial and en-
during. With all the distrust that
prevails in business circles, the re-
turn to confidence must be slow
for a time, but SO many cause have
combined to improve the general
business CO, ditions during the last
week that distIust is forced to bow
to patent facts.
Tue improvement in business is
not the creation of any sudden
speculative squirt that would logis
cally go as fttully as it came. On
the contrary, there are easier cons
ditions of money; mercantile paper
is taken more freely; the shipment
of gold has been stopped by the
more wholesome features of trade;
what is shipped in unusual guam
tity to foreign markets, aud Amers
lean credit has been greatly
strengthened abroad by the bold
attitude of the Administration in
favor of an honest financial policy.
1t is admitted that there is quite
enough money in the country to
meet all legitimate wants If it could
be called out from its boarding
places by revived public conf~
dence; and that can be done only
by gradual progress. The man
who has drawn his deposit from
his bank and locked it up in a
safetysvault box, will wait till the
last clouds roll by before he emer~
ges from his panic; and when he
sees money plenty and cheap all
around him, and securities largely
advanced in price, he will offer his
money for loan at half what he
could have obtained for it with un~
doubted security, or rush in and
buy securities at ten, twenty or
thirty per cent. more than he
could have bought them for in
the depression when they were
just as good as they will be on a
booming market.
There is now nothing to warrant
apprehensions of p~rotracted fnans
ciai depression or of renewed panic
in values. Congress will meet in
less than a month; the President's
message will be a landmark in
our financial history on the side OF
honest money; the silver purchase
feature of the Sherman act will be
repealed, and every advat ce in fl
nancial legislation will be in the
line OF a sound financial system
Surely no injurious legislation can
be possible, tor the Presidential
veto would stand as a bulwark o.
safety against it; and the pressing
needs of all business interests
throughout the country cannot fai
to impress Congress in favor of 6
positive departure toward the high
est standard of public credit.
A country with our boundless
resources aud a people with oul
exceptional adaptability to new
conditions, can meet the strain @
rescuing the nation from our suici,
dal silver policy. England aue
India are less flexible and vastly
more dependent On existing Gus
toms. Serious as are II own sill
yer complications here, the compli
cations from the same cause ar
certain TO be much greater abroad
and it is quite probable that thu
troubles nov conf onting England
and India may, in the end, facili
tate a general solution of the silve
problem by the leading nations.
Unless all signs must be at fault
we have passed the storm centr'
of the present fnancil revulsio1
and must gradually advance towar'
restored confidence and just values
There have been some bad failures
bu. all such improve rather thai
hinder sound and prosperous bust
ness. Most of the important failure
have been rotten or purely specula
, tive banks and unsound and in
1ated speculative inventions. Her
and there legitimate business ha
t been caught in the food tide, bu
} it is the exception to the rule, an
the country will be all the bette
J iron most of our failures.
;. Another bountitul crop is abou
to be gathered; our financial system
) is certain to be greatly improved
money is abundant tor all leriti
mate wants, and we need only tn
restoration of public confidence t
bring us back to prosperity. Let u
have faith in our Incompatible
resources, in our matchless people
in our sternly honest government,
and in ourselves, and the fnancia
afraiD will sDeadilv neriah