The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-01-10

and their purchs,es have been one prin-
| cipal cause OF the stability OF srcuriti-s
anu OF the ease with which we have t,kun
/ mp such an immense amount OF invest
ments returned from abroad.
1T l. this same general CONSCIOUSNESS Of
nnaDciai strength aud SouudpeSs thAt has
caused the startling results OF tie presi-
Dental election u br received vita such
unexpected cannes Il J. also % Una,
cause that We mast attribute the abs
OF uneasine-S ln the near prospect OF q
pronounced change in the industrial aut
commercial policy q, the nation The
/ seeming small account thaL Wall street
attaches 10 this impending les .siatjuu j.
not uut TO any want OF comprehension ut
is importance or vl the Interruptions &.
trade that It Will occasion, but Go che Col.
ylCtIOu that the couatTy j. Wel prrpIrcl
! 10 endure tie trial OF it> strength Mail
street enters tbc new year with this very
important fact IA is favor. that while. rs
already iuJ.matvd. permanent invest
meuJ has A.gSfiy been found frr
the securities returned from Europe
tue issues OF new obligations by railroads.
have b-eu IG 1892 tls also Tor the two pre-
vlOus years. exceptionally hight IL il true
tAat COusld -raUlc amounts OI stock havo
been pat ouJ In connection with the iucOr-
poratIon OF private firms; bus these are
not new creations, but the msre changing
VI Atlt Abt III "a tllF7t4f lux EAaAEl
IL - therefore to be presumed that tns
new creations OF corporate capital have
ior the last two or three years, fallen be-
low The normal demand Tor Investments
aud that therefore tue floating market
supply Of securities must now be of strict
IY III 'derats dimensions This couslIert-
ton has contributed towards sustaining
the market through the trying conditions
cI late mont hs, aud may reasonably be
trusted 10 afford like support during 1898
WITH 50 mauy really substantial tao
tors IN favor of confidence. 10 Is uafOrJu-
nate that anything should occur 20 weaken
their legitimate effect upon Wall street iu-
tercsts. 10 h unnecessary 20 inquire what
truth there may have been ia the rumors
OF "A concerted plan tor helping the market
aud the banks by l-Tge transient issue OF
United States bonds. fos the mere public
mention Of the matter has quashed the
suggestion. The incident, however. uaJ
been a misfortune; for both al home and
abroad II viii be construed as Implying
condition OF things calling for eXtrAoTii.
nary precautions: aud such "A suspicion
does Injustice TO the intrinsic strength OF
the existing situation and suggests danger
where 10 does not really exist. Tue use Of
the governments = authority 20 sell bonds
to keep up its gold reserve Is resort
to be Rvaiied of only In the face ot
virtually certain prospect os a really
fatal foreign drain OF gOldl
but at present 20 such positive danger
coufronts Us. IL there were no hope Of a
speedy suspension Of purchases Of silver
aud none of some useful international
agreement b-inS reached on the Teasseui.
bling OF the silver conference, then there
might be some Justification for tue govern.
menJ consulting with Responsible anan-
ciers as to the best means Of preparing 20
deal with threatlng contingency, Bat
such - lar from being the real situation.
There II "a ia prospect Of the suspension.
aL least, OF the silver act Of 1890 sOlas tttnr
duriu- tbs year; the probability Of such u
step will keep our currency On = parity
with gold. aud tend % restore European
cuudI-uCe in our investments. besides
should protect u aSsIBst further serious
drains OF gold. For these reHs0uS, auy
such conferences a5 ar- TuBured 90 have
been held b.twrea the secretary % tLo
treasury aud certain geullvueu ot this
city would be- rot oniy ~ best premature
JuL also mIsl-sdiug aud uusstJhBg, rataor
tHAu conducive TO confidence