The Mt. Sterling advocate., 1893-08-01
THE ADVOCATE.


We asked close student of current
events, day or two ago, what is the
prime cause of trouble in the financial
world to-day? Lack of confidence"
was his reply. "Sum it all up and
you will find that is about all there is
in it," Read the principal dailes and
their leading editorials are simply
addresses to the people urging them
to display little common sense and
extend the same confidence in none
tary affairs to their fellows as they are
used to doing.
We clip from the Courier-Journal
ofMonday, the following timely advice,
which applies just as strongly to
Mt. Sterling as it does to Louisville /:
If there are. among the thoughtless
or the timid of the Conrier Journals
readers, those who have withdrawn
their money from banks, or intend to
withdraw ii, for the purpose of hoard
ing it, we want to say. word or two
to them in all sincerity and from the
the best motives. Put your money
back in the bank if you have with
drawn it, and if you haven't let it stay
there until you want to use it. The
banks can take much better care of 1t
than you can, and among the excellent
banks of Louisville you can hardly
keep from selecting safe depository.
There is absolutely nothing in the
present condition of the country which
warrants an impairment of confidence
in properly conducted banks. People
who have been led to believe there is
are ill-informed, or lose their heads in
stead of using them to do little COM
nonsense observation and reflection.
Confront the situation squarely.
What is it,.
Simply weakening of confidence.
due to fears largely groundless. The
expectation of our gold, attributable to
unbalanced foreign trade and the op-
Grafton of the Sherman law, has
caused forebodings of disorganized
currency which has been magnitied
beyond all reasonable probabilities.
until, with plenty of money in the
country, the purse-strings are tight
ened by the timorous and the over
cautious. while,to be prepared for any
emergency which might arise from
such a feeling, the banks naturally
strengthen their reserves and retrench
their loans. But the resources of the
country are greater than ever; crops
are good business, aside from the eff
fects of the fictitious money stringency,
is good and there is absolutely no
cause for" hard times" except in so
far as the needlessly alarmed people
choose to make them hard by their
own conduct. The outflow ofgold has
been checked and the tide is turning
in our direction. AS the season ad-
vances this will increase for our gold
importations are always larger during
the last half of the year. Moreover,
the Sherman law will doubtless be re
pealed within few weeks. but,
Suouiu tllc polltIClaHe pIcNcuG Illls, IL
would be several years before the op-
Grafton of that law would drain us of
gold and bring about those conditions
that so many mistakenly believe are
already upon us.
1t is absolutely certain, however,
that should the coming extra session
of Congress be unable to repeal the
Sherman law, the President and Sec
retary of the Treasury will take all
necessary steps to maintain gold pay
ments and the souudness of our cnr-
rancy, aud thus prevent the results
which are feared as the worst effects
of tba 1axry