Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1893-09-07

The improvement in Business.
Residents in Vermont scarcely need to be
told that the business situation is irnprov-
ing for the change for the better ID evil
dent to all who carefully observe the signs
OF the times locally or note the features of
the general situation as portrayed in the
press. No one can have failed to observe
tho gratifying absence OF the reports of
bank failures which were so numerous daily
in the newspapers only few weeks ago,
but this is only one OF the many
indications that the climax of the financial
and business depression has been passed.
Failures are less numerous; assumptions Of
business and Of banks are increasing in
number; premiums for currency have de
clined to almost nominal quotations and
bank statements are growing more favor
able each week. Money is more plenty and
there is every Indication that the currency
which has been boarded will take advau-
tage OF the first return Of confidence and
come forth from it's hiding places in ample
volume.
The most significant as well as the most
gratifying indication of returning conf
dence is, however, furnished by the depos
tors OF savings banks. In those sections in
which the savings banks exactad notices of
intention to withdraw deposits the thirty
day limit is now expiring, yet it is said that
not over ten per cent Of those who gave
such notices a mouth ago are now DESTROYS
of withdrawing their money, showing that
they are not only regaiung their senses but
that their confidence is reviving as well.
The improvement recorded during the
past two weeks in financial circles is uu-
doubtedly due to s. considerable degree to
the increased prospects of the repeal of the
silver purchase act, but the influx OF large
amount of gold has had no inconslderabe
share in bringing about the improvement.
| Some of the more sanguine supporters of
| the administration 60 so far as to predict
that when the president has signed the re-
peal bill, there will be general revival of
con fdence, a return of boarded money to
the natural channels of business general
locsening OF purse strings and probably the
renewed Investment OF foreign capital in
this country.
This would be a contamination most ac-
ceptabIe to all, but unfortunately the
/
sound business Judgment all point in dit
fercnt direction. The danger Is that too
much will be expected from the repeal of
the silver purchase bill with consequent
disappointment, when results ere measure d
by anticpations, and general relapse.
1t must be remembered that the repeal
of the silver purchase act removes only one
element OF uncertainty which has para
lyzed business. There may be plenty OF
money and the character of the currency
may be all that could be desired but while
there is any uncertainty as to the tariff,
capitalists can not be expected to launch
out in trade or in manufacturing they
would were values on per manent basis SC
far rs the tariff is concerned.
There is likely to be a continuation of the
stsGnation in many branches Of business for
Il Icing time with Gullness prevailing in all
parts of the country; for couutry's bust
ness interests cannot be restored to their
normal condition ia day or a month any
more than person can be restored in ona
jump from dangerous ilneas to full health
and yigor, II is the opinion of close OBJ
servers that under the most favorable cir
cumstances it will require two wears tc
place the country where it WAS one year
ago but il the tariff is to be revised Just q,
a change Is being made in our monetary
system, no ono can predict when the coun
try will again enjoy the degree of prosperity
which prevailed last year at this season.
1t is an admitted fact that any change il
customs duties inevitably produces bus nes
uncertainty and disturbances, and espsoially
is this the case where tbs tariff is lowered
1t is the duty OF the administration at thi
time Therefore to take every means in IT.
power to ene"re continuation of the i'm
provement baGun In the business situation
President Crveland in calling a special ses
sion OF c.. :ess to repeat the silver pur
cIase act SAID truly that the issue was on
in regard to which politics should be ign ed
The same statement applies to any attemp
to tinker with the tariff at this time lie
Congress pass a resolution not to revise th
tariff for two years and the restoration O
our prosperity will be as general as it /
rapid.
The Grand Army at indianapolis.