The evening world., 1893-10-31
BANKERS ON THE REPEAL.
They Say the Greatest Obstacle
to Business Is Removed.
A Gradual but Certnin Improvement
May BE Looked For.

The prevailing opinion in financial
circles to-day Is that the repeal of the
silver clause is certain to be followed
by an improved feeling II greater &C.
tivity in all branches of business.
Some thought that the stool. market
did not respond to the expected boom
this morning, because the action of the
Senate had been fully discounted in the
advance of the past few days, and that
those who bought for the rise were
realizinc.
1T is only a iittle furry" said Banker
Henry Clews this morning, (Which will
soon eXpcnd its force. and then the
market will settle dow upon . solid
basis, with a prospect of gradual but
certain Improvement. .
the value Of our securities in the mar
kctH of the world for so long a time has
Ocsn removed. and New York instead of
rcing a mere local market, Is going now
to become again one of the worlds mar
kCt..
Il do not anticipate any serious dis.
turbance from the agitation in Congress
Of the tariff question That has been
minished production in all manufactur
ing industries
Addison Cammack, the prominent Wall
street operator, Sdll lHlS nlpl NUS
When the bear panic fairly started
last May, everybody looked after Il rea
sonable period for prices to stop de
scel ding the downward Erldc. Rallies
OF from 3 TO ! points were freely pre-
sure to sell was checked from time &c
time, and most of the active shares did
recover from IL to l l-2 per cent.
as an impetus for a further downward
movement. The public clamor is run
ming the other way row.. While ] do
not feel hullish personally, / do not look
for marked defines"
The aral. disposition Of tn silver
question by the Senate said MIR. Selig-
man. the banker. will give vast enCour.
agement to. every branch of business
in the country.
The results may not be apparent
immediately, and nothing can be judged
Of the situation by the course of the
stock market today, or possibly fol
many days to come. -,
"They will develop gradually, and viii
be manifested in the returning confidence
of lG'gc operators in the industrial field
who have been waiting for some d~ecisiv,
action by Congress before undertaking
important enterprises"
President j. Edward Simmons, of the
Fourth National Bank, hailed the rcpea
vote in the Senate as the first grea'
step towards a restoration of confidence
in financial and commercial circles al
over the country.
In repeating the pernicious Silver
law" he said, Congress has gone to tn,
root Of the evil, and has given tn,
country 4 sound and stable currency
which is the foundation of all bushes!
prosperity"
The final passage of the Repeal bill
has served To Stimu ate the cotton mar
ket, both at home and abroad. Hubbard
X Price say this morning:
Nov that all doubts as to the sound
ness of American money have been dis
PEELED, it Is to be expected hat we hal
see a constantly improving demand fol
American cotton.
President A. b. Hepburn, of the Thir
National Bank, said this morning:
The repeal must have IA beneficial
effect on business. The depressing. in
fuence 1t might have in silver has. IL
my Judgment, been largely discounted
Production has been diminished and sill
Yer mines have been getting into a posi-
tion to handle the product solely will
reference to its commercial value. Shout,
India impOsa an import duty on silyel
II might u a further depression"
Our silver Legislation has been one o
the principal causes of business stagnd
ton. That is now removed. Others
however, remain. People will not EN-
bark in large business enterprises st
long as prospective values are likelv I,
be effected by changes in the tariff.
Settled business conditions are in
diSpenSable to business prosperity, an,
for such development We must avail
the action and adjournment of the pres
ent Congress-