The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1893-11-09
Be Err 7 In ES!
The Financial Clouds Are Now
Breaking Away.
DAWN OF BRIGHTER DAYS.
Business Men Believe They Are Near
ing the Shore Of Prosperity.
SEE THE LIGHT In The DARKNESS
Interviews With the Presidents of
Winston's Banking Institutions
Messrs. Fries, Buxton, Blair and
LemIy Tell What They Think
of the Repeal Bill-Views
ofa Roanoke Banker.

4
In consequence of the final repeal
of the Sherman silver bill, the people
] Except the Populistsl are confidently
| looking forward to better times.
They do not expect the depression,
which has so long prevailed, to be re-
moved at Cnce, but they feel that the
financial clouds are breaking and
they hope that the dawn of brighter
| days is at hand.
SENTINEL representatives have
| talked witlPseveral of Winston-Sa-
lem'S business men and found them
| all hopeful as to the outlook. They
are not expecting money to come into
| circulation with rush, or that lag
ging industries will start up at once
| into full blast, but they feel like good
| times are coming. They see the light
| in the darkness, and believe that they
are nearing the shore, after long buff
feting with the storms of an unknown
sea.
WHAT THE BANKERS SAY.
Following are some views expressed
by the Presidents of Winston's banks:
"What do you think of the repeal of
the Sherman law was asked OF Pres
ident Fries, of the Wachovia Loan
and Trust Company:
81 think it is the first step towards
more prosperous times, the country
at large and business men generally
| seemed to see this at once, and the
great pity is that it was not done
| thirty days ago. 1t comes almost too
late to affect the fall trade, and few
| er enterprises will start up this fall
than would have been the case had
| the repeal been carried promptly on
! the assembling of Congress in extra
session.
'What effect Will repeal have upon
| business and trade?"
"Undoubtedly good effect. The
great trouble with business has been
| that people would not trade, they
were afraid to do so; they could not
| calculate with certainty upon the fu-
ture; they saw the gold reserve conS
| stantly and rapidly disappearing even
below the legal limit and they doubt
| ed whether the standard could be
| maintained. This doubt affected for
| eign customers as well as our own
| business men, and they went slow
They cannot now doubt On this point,
| and their assurance will cause them
W UIduo III w LldU Ull6y Huu UIl6y HCcu, dU
least, and when trade begins business
| of all kinds will prosper. OYertrad-
| ing of which there has been too much
| cannot be expected at least for a
while, until the smell of the fire has
worn away, and it is best that it
| should be So.''
"Do you think the effect will be felt
| here Immediately
"lt is not probable that a very
| m q q no hCp
or at any point away from the great
centres, where it is already becoming
] apparent. You cannot expect a pa
| tient as sick as this one has been to
| get up and run about at once, strength
| returns slowly and SondOeS confidence.
| Usually, marked changes in financial
| affairs are felt here some weeks after
| they are noticed in Northern cities;
we have every reason to look for this
improvement and | believe that it
will come and will be healthy and
steady. 1t will come gradually and
to some it will be apparently slow"
''Will it benefit the country as we'll
as the town ?''
1T cannot help doing so. The
farmers have been least affected by
this panic because they were farthest
| removed from the cause, but it has
reached them to such an extent that
they cannot sell their surplus product
to meet their ordinary wants and
while they are suffering less they are
feeling the results all the same. The
opening up again of the channels of
trade will unquestionably enable
manufacturers to sell and collect, and
the ball once started will continue to
roll, and the country will most GER
tainly gain equal benefit"
What can and should be done to
advance the local interests of this sec
tion and of our Twin-City? ?"
"Go to work in two ways: 1st, to
produce as much as possible in the
least time with the means at hand,
and, End, to go to work to pay your
debts. This section of the country is
really in excellent condition compar-
ed to every other, and its advantages
are great and just as fine as they ever
were and the towns of Winston-Salem
have as bright future as any in the
State. Ii the best citizens of these
!. towns and section were to unite upon
the accomplishment of any object it
! could be done, and this is an impor-
{ tant point to be accomplished for the
) results in the future. The Chamber
? OF Commerce has been at work. What
ever line of policy is adopted by that
body should have the hearty support
of the citizens of the towns and ad
joining country"
IFeSlueuJ AeIuly, Ol Tile WacQOFlc
Bank: I'VE think the repeal of the
purchasing clause of the Sherman sill
yer bill, will have good effect Oh
! | business throughout the country; viii
! tend in a great measure to restor,
5 confidence, and cause foreign capital
j lists to make investments in American
/ securities"
President Buxton, of the First Ma
! tional Bank: II agree with tn
!. views expressed by Congressman VIII
: son, of West Virginia, in his closini
. speech last evening before the vott
E was taken He SO well expressed TIL
d situation that / can do no more thai
endorse Mr.. Wilson when he sal