The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-01
WHAT THEY THINK OF IT.
How Repeal is Viewed by Savannah
Business Men.


majority of the leading business men of
Savannah that the passage of the repeal
bill will have a most beneficial effect
upon all classes OF trade, and upon all in
dustries. and they do not hesitate to so
express themselves; but it is the belief of
those who have given the matter serious
consideration that the relief will not come
In a day. 1t VIII be more of a steady and
marked growth, and the total volume OF
the business for the next few months
viii so far surpass what it has been du-
ring the depression as to leave no doubt in
the mind of any one as to what was the
cause of the trouble.
While it is not thought that the Presi-
dents signature to the bill will prove the
"open sesame which will at once change
evil to good it will bring that feeling of re-
lief and thatreturn of confidence. the lack
OF which, during the past sixor eight
months, has been as largely Responsiveness
anything else for the depressed situation.
The views of Savannah's leading bust
ness men as to the probable effects of
the passage of the bill are, as a rule, in
accord. While some of them view it
from one standpoint and some from an
opinion is along the same line.
FIRST EFFECTS OF REPEAL.
Col W. w Gordon, who has been
deeply interested in the situation, thinks
the passage of the bill will have an i'm
mediate effect upon certain classes Of
business, especially stocks, bonds and
such securities and property as pass fire.
quently from hand to hand. Indeed, the
tendency of this market to advance has
already been seen, its effect being more
noticeable in the case Of stocks and bonds
as quoted on the New York exchange.
after the first squirt, he said, there
will be an apparent delay in the good
effects of the measure, which will lead
many to think that it has not afforded
them the measure of relief that they were
seeking But we can't do six NOM his
business in a week There is no doubt,
however, but that there will be an enor-
nous increase in the total volume of the
business, | think, in almost every section.
I am inclined to think that the increase
will be from day to day and that, at the
end Of six months, or in less time, the
large increase in volume can readily be
seen, whereas il may not be noted from
one day to another There are other
questions to be considered, and | am in
clined to the belief that the manufacture
ers will not lay in large supplies of raw
material at once, not at least until some
thing is definitely known with regard TO
what direction tariff legislation win take
but that they win rather buy as the Eng
lish manufacturers DO, contingent upon
the orders which they have before them.
/ expect, however, to see industries which
have been lying idle start again and CAPT
talists embark in enterprises where they
have, during the panic, been unwilling to
venture. In these and other ways the re-
peal can only be, | think, attended with
good effects"
WILL RESTORE VALUE TO SECURITIES.
Vice President NJ B. Lane, of the Citi-
zens Bank views the question somewhat
from the bankers standpoint. There is
plenty OF money in the banks, he says,
but people have been unable to get it on
such securities as stocks, bonds and real
estate, and as a consequence, many of
them who have had to get money, have
been compelled to dispose of such prop
erty at greatly deprecated price.
This, in itself, has caused a shrinkage
OF values in these classes of property; be-
cause the lack of confidence was such
that people who had money were unwill-
ing to let it go on such securities Now
that this question has been settled PEG
pie with these securities will be able to
get money on them, with a restoration of
confidence aud they can embark in enter
prlses in VIII oh they have heretofore been
blocked on account OF their inability to
realize anything on them. Every class Of
industry will in time be benefited
through this means. 1t is a. restoration
of credit that will help the situation as
much as anything else.
CONFIDENCE IN TIE ADMINISTRATION.
President d. G. Purse, of the Savannah
Board Of Trade, takes a comprehensive
and general view of the situation He
has looked on the repeal of the silver
purchase clause of the Sherman law as
the Mecca towards which all classes of
trade should direct their attention Capt
Purse has worked, too, on this line and
under his direction some expressions of
opinion have gone forth which have had
their weight.
He is of the opinion that the repeal will
be followed by a general restoration of
confidence in financial and commercial
circles. Public sentiment he thinks, has
been largely responsible for the panic
and while the Sherman law did it's part,
he says that all the blame cannot be
shouldered onto it. He thinks it is sure
to be followed by a cessation of the drain
on the treasury of gold, and looks for an
enlarged and permanent prosperity, be-
cause of the confidence in MIR Cleveland's
administration to carry out the reform of
the tariff, and because capital will en-
bark in new enterprises where before
monied men feared to venture
TIE SITUATION IN A NUT SHE'LL.
"Silver is not altogether responsible
for it." said Mr.. B. Fl. Levy Yesterday
1T is like man who gets to feeling a lit
tie bad and some one comes along and tells
him he looks bad. He gets little worse.
and then another man comes along and
tells him the same thing. Pretty soon he
gets to feeling real sick, and somebody
has to come along and tell him he's all
right and that he's not sick at all before
he really gets well. That's the whole
story. People have talked so much about
hard times and silver being the cause of
IL that people got to believing that the
only way 10 remedy the situation was to
repeal the silver bill, Well, they did it,
and now times will improve rapidly, no
doubt, but as much because people think
the cause of the evil is out of the way as
because the silver repeal bill has
passed"
Capt. Henry Blum was one OF the Sa-
Vannah bankers who did not think that
silver had anything 10 do with the situa-
ton. He said he didn't see that there
would be any particularly good results
IRON The passage Of the repeal bill, and
that, IN his opinion, the calling of con-
gress IN extraordinary session was I'M
necessary. He thought there were other
financial questions before the country Of
great deal more Importance, among