Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-04-11

New York. April 7.--puring the past
week business az the Stock exchange
has been Influenced 10 some extent by
realizing rrzusactsous- stocks bought
in antlripafiar % the veto q the Bland
bin have been sold out by both home
and london holders and. In the al
seuce q any new stimulus some OF
the large operators have been waiting
for prices % drop previous 20 buying m
again. There has heeu ne more neadi-
ness 10 take fhis course because con-
gees rad 10 take action upon the presi-
dents veto. and lt was MOI unanimously
regarded az entirely certain that the
bin would fau 70 become law through
a tro-thirIs vote. ulscouragement in
some quarters has arisen also from the
growing conviction that the tasim dis
cusslon is likely 10 b. prolonged until
near the end ~ May. which may have
the effect q keeping certain branches
OF business for the fan trade 30 Eus-
pense. and therefore act unfav0rably
upon some mercantile interests One
favorable Indication from " asnlngton
is that nothing further e. likely 10 lie
seriously attempted in the way Of
urging free coinage upon congress.
Senator Stewards bill IS regarded az
likely to be shelved Ia committee or
allowed % resi- ION the table. and IL
seems possible that the silver party
may deem IL imprudent 10 incur fur
Their odium by wasting time on meas
ures which the president will not
allow 20 become law. should NJ.
Bland carry out his threat 10 Introduce
a free coinage bill. II Is likely to be
dealt with very sunmarlly. as the
house is anxious 20 set at other bust
Nevertheless. the continued silver
crusade has a silently unsettiiuE effect
upon confidence There can be no
doubt that in the West, southwest and
South the feeling In favor Of Increased
issues Of silver n gsiuinE ground
rather than chatting; and. unless some
thing is done IN m0llify that feeling, 81
may later on assume more threatening
dimensions Among tWo-thirds Of this
infationlst class. however the demand
means more money rather than more
silver. They are asking for more
silver because iH demanding that ex-
prcssly they have the Influential back
ing of the mining i-teres: proper But
at the same tme they would be equally
willing to accept some other form o.
currency instead. providing 10 were
placed within thElr reach. 10 Is there
fore Z she utmost Importance tnar
congress should. during the present
session. pass n bill authorizing issues
~ bank currency. upon basis %
p NieH aA'lNf7 .lN.At MA'AAF h0rfIlAaFlN
secure would yet not be oppressive OF
prohibitory OF issues. capable o. ex-
pansion according 10 the requirements
OF businegs and available 70 the state
banks on the same terms as In the
national, such O plan rs now ready
for Introduction 10 the house. and there
IS a probability Of its being not only
supported b. party leaders. but also
favored by the administration. The
passage ~ such a measure, though
not az the moment needed for currency
necessities, would yet have the effect
Of getting the constantly disturbing
money question out Of the way. and
which IS even sun more important
also Of depriying the silver aEitatOrs Of
two-thirds Of their present support, and
hnally OF removing this dangerous
issue from the field OF politics
While the Immediate course OF the
market probably suggests dlscrimlna-
ton in huying. still the distant future
IS Frightening. 4 more hopeful spirit
pervades business circles, and as soon
as general trade resumes normal
activity railroad earnings must i'm
prove. Thur far net earnings have
been sustained only by the strictest
economies. and In this respect at least
the depression has proved a timely
lesson 20 railroad managers. The ad-
vance IN wheat will create better
feeling In the Northwest. because the
damage by the late cold snap was not
serious, and is not likely to cause any
material shortage. The advance in
silver Is also calculated to lessen the
gloomy spirits Of the West. When
congress settles the tarlf question
business viii unquestionably expert
ence n sharp revival, but this longed-
for result is stili about two months
distant at the earliest Meanwhile. the
market will have its setbacks. but they
viii not be serious and in the long
run prices must advance.
HENRY CLEWS