The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-08-28

| Wall street is fin a temper 20 take little
I Tor granted and f0 discount no mere
I hopes Besides. there is no definite opin-
I Ion as % what may be the immediate eff
I Iect or the repeal upon the money market.
Inc currency machinery has been so fun
I damentally derauEed that it is not easy 70
[ say what time 10 may take 90 draw out
[ the millions OF mouey held ia hoard. nor
I how long 20 restore the distribution OF
/ currency into it's normal channels, oryet
I how TAR the usual fall demand for cash 10
move the crops may affect the restora ton
OF the monetary equilibrium. Hence,
I whist repeal would UNIQUE sllOnably cause
a universal and immediate return of con-
{ nQence, yet il is not impossible that some
time might elapse before the various fl
nanclal acknowledgements were Strengthened
out and the loan market become settled
and easy
/ Congress seems to be steadily working
us way towards q solution of the silver
question IN conformity with the wishes
OF the great majority Of the people. 10
| was hardly 20 be expected that members
would forego such an opportunity Of ex-
hloltlng their Oratorical powers, and
| hence there has been great deal of waste
| time over discussion in the House; but
there is no longer any doubt that the out
come IN the lower chamber will be a safe
II not very large majority In favor OF I'M
conditional repeal In the Senate, there
Is likely to be similar trifing with the
public impotence for a verdict but the
result in that branch of congress may be
regarded as being virtually beyond doubt
IN favor of the national interest. The
discussion of this question brings out a
diversity of suggestions for a remOdeling
OF our currency and banking systems,
none of which seems likely to result in
any immediate changes. Their chief sig
nIfiRanrR lfac IL, d fha.r
a widely prevailing dissatisfaction with
much Of our monetary and banking ar
fangements under the law as IL now
stands. This may suggest the necessity
OF consideration of these questions at
no distant day; but, as yet, they have not
become burning issues, and therefore
are not likely to hold congress in session
after the silver question has been settled,
but to be deferred until at least the tariff
and internal revenue legislation has been
disposed of.
The condition of the monetary affairs is
improving, and to a greater extent than
appears on the surface. So long as the
banks have to restrict their cash pay
ments and currency is selling at a pre-
MUM, appearances must be unsatisfac-
tory; but although these features still re-
main, grsat deal is being accomplished
towards their removal. The arrival of
nearly thirty million dollars of gold from
Europe, and still more on the way. and
the issue of S13,OOOOO0 of bank circula-
ton, all of which has boen accomplished
within the last two weeks, cannot posi-
bly, fail to work out an immense relief.
The banks of this city must now be on
the verge of a restoration of their re-
serves to the legal limit, and there can be
no doubt but the country banks are hold
much more than the average amount of
cash. When these facts become officially
declared, the spell Of the strengency will
be broken and confidence and ease will
gain rapidly. In the meantime, there are
distant signs in the interior cities of
a more decided turn towards recovery
than has yet appeared a this center.