The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1893-08-11
TAKE COURAGE.

Congress is now in session and the
relief in financial matters which has
been expected is now at hand. 1t
may be secured only after hard fight,
it may come easily, time only can re-
veal, but in the meantime the pressure
Of sentiment in favor of the repeal Of
the Sherman law should continue.
From the time the President issued
his proclamation converting congress
there has been a gradual improve
ment throughout the country. True
here and there clouds have appeared,
but they have been of local charac-
ter, and cut but little figure in the
general result. The outlook at large,
however, is for the better, though
people must expect that the recovery
will be slow. Speaking upon this very
point, and calling attention to the
various factors which indicate a gen.
eral improvement in the tone Of bust
ness, Comptroller of the Currency,
James H. Eckels in the current North
american ReDiew says:
All these favorable symptoms must
not, however, be interpreted to signi-
fy immediate and complete reStora-
tion to health. The ailment from
which our financial system has so
long suffered is too deep-seated to
warrant the hope of recovery without
a period of convalescence. The crises
has passed, but an imprudent act or
failure to take every precautionary
measure may cause relapse, which,
in it's consequences, may prove more
serious than the fever at it's height.
1t has taken a long period of time to
prevent the minds of the people in
business matters and to thoroughly
permeate the financial system of the
United States with the disease that
has so nearly ruined it, and OF neces-
sity it cannot all be undOne in the
twinkling of an eye.
Again referring to the matter Of re-
covery, he says:
Many are looking for an immediate
recovery and spontaneous return or
good times when this law, 1.-THE Sher-
man Iaw,) is off the statute books but
such thing is impossible, as is the
maintenance of it without working
greater harm.
The duty of every citizen is to do
what little he can toward continuing
this improvement, and strengthening
the slowly returning confidence. There
has already arrived in this country, or
is now on the way, gold to the sum of
Sl5, 0O0,00O from Europe. In addition
to this sum Comptroller Eckels has
received applications for $40, OO0,O 900 of
national bank currency. This sum
will help materially in relieving the
stringency and aid in moving the
crops now being harvested. The NOV
ing of these, even though slowly, will
do much toward building up conf
dence again.
What the people want to do is to
take courage. The local scare which
took place last week has mostly sub
sided. There was no real foundation
for it whatever. Time is revealing
the fact that the banks are in excel
lent condition, and that the trouble
simply existed in the minds of the
people. This they are fast
recognizing and hence public
is gradually gaining the
upper hand again. There are no
stronger banks than those of this city |
and our business men and citizens
generally owe it to themselves and to
the public that they stand solidly by
them and in every way aid in the
that is spreading over
the country at large.
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