Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1893-05-11
MR.. C~LEvELAND's VIEWS.

the Baltimore Sam says that the pan
icky condition of affairs in Wall
street on Friday did not cause much
uneasiness at the Treasury Departs
ment. He adds:
"The en- barrassment seemed to be
confined to the Wal street spectators
and did not apparently affect the
business of the country generally,
and the department is not disposed
to trim its sails to suit the conven-
fence of the stock brokers.
GAIL the news received at the de-
partment seemed to be favorable to
the Treasury.
"The revival of foreign confidence
is altogether due to the announce
ment of President Cleveland that
gold payments would be maintained.
If the Sherman law is repealed at
the next session of Congress this
confidence will be maintained"
AS the Richmond Dispatch SAYS,
if the Democrats will hol1 up the
hands of the President his admins
traitor will be successful. He is
not alarmed, it seems. Indeed, in
the above paragraph our statements
of "the gravity of the situation are
fully endorsed.
We have all the time advocated
the repeal of the Sherman law; but
we do not intend by the commission
of a blunder to be led into a false
position on the silver question.
Nevei tbeless, whilst we leave the
Sherman law to the tender .mercies
of its friends and advocates We must
say the man or the paper is blinded
by self-interest or something worse
that can lay the present condition of
the country to silver legislation,
Look at the facts. Whilst Of stocks
American Sugar dropped 2f points,
the preferred II, General Electric 70
American Cotton-Ol s,,Chicago Gas
154, Edison Illuminating 81, Man
chatah Elevated 1o3, National Cor
dage preferred Rs, National Lead z,
preferred IL, Omaha preferred 6,
Rubber 81, the despised silver certi.
fcates sold un Friday last at about
. SO to So. or as high as they sold two
weeks ago, The man who had
bought silver certificates and laid
them up lost nothing.
The silver-men have predicted for
years that unless silver was treated
as gold the condition of things now
prevailing woald come about. They
will make the country ring with
their denunciations of the men who
have by their false clamor and theil
false financial notions hung up in
our financial sky the clouds which
now tn; eaten to ruin the country
"Nav, an thou'lt mouth Til rant a
we'll as thou" The people have al
the time sided with the s~ilverites.
They will do so again. We fea,
that they will go to extremes.
We do not intend to be removed
from our own position. We fear flee
, coinage because Wall street and it
allies have it in their power to Great
= ( panic at almost any time. W
: made this remark two weeks age
The panic which we forecast ha
come. And the sharks Try to lay i
upon the men whom their machina
tons have wellnigh ruined. Whel
Congress meets these Wall-streeter
will "sing SMALL" and the voices o
the people will be heard.
In their circular of Saturda
!, Messrs. Hambleton & Co., of Baltl
4 more, says:
The long-looked-for and much
e predicted crisis has at last arrived
but it does not appear to be the kin
s of crisis that was expected. Th
: New York stock market is Athlete
with a financial CONFUSION and tn
prices of the purely %speculativ
stocks have ratified down in a mar
ner which must have made the un
fortunate possessors of the shares c
: such companies wish they had neve
. heard Of the so-called sIndustrials
, which they had been tempted to bu
Z by the promise of big dividends an
. handsome prospective profits. 1t
the same old story Of trying to g
rich fast at some n else's expens
and with the usual result-disaster. @
o course, the good securities suffere
to some extent from the great d,
cline in the speculative stocks, but
is noticeable that while prices
some of the trust shares were tuml
e ling down ten points in as mar
It minutes, the stocks of real mer
= gave way slowly and were take
readily by investors. At the san
IS time money was comparatively ea'
d and was only temporarily bid up
exorbitant rates. The monetary il
stitutions are acting in a conservati'
manner and are outstanding the
resources, but all deserving ellen
are taken care of and rendered a
al necessary assistance. The situate
r may be described as a stock PAM
bnt there is certainly no crisis
y the money market and not likely
be any trouble in this direction.