The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-08-27
FINANCIAL REVIEW.
Henry clsws'O Weekly Latter on
the Subject.
4 FEELING OF RELIEF APPARENT
At tho Ending of Tariff Uncertainty.
and 1t Is HavInE It's Ensct-PrIces Of
Merchandise UnprccedontIy Low,
and the Conditions GOod for n Sound
aud Healthy Revival of business

Special conapoadaos n Ne Iaiszsme1.
NEw YoRK, August 25.-The past
week has afforded fair specimen Of
tho sort of elects the end Of tariff sus.
penSs has in store for Wall street. The
feeling Ia that Of universal relief from
universal obstruction. Tho way has
been opened to resumption of trade
and enterprise in every direction; and
in all interests there Is a disposition to
resume operations on something sp-
preaching a normal scale. ThOre arc
no longer any great fears. nor any res.
sons for timidity, overhausing the mar
kets. In every branch Of trade. stocks
of merchandise are in q starved condi'
ton; and the reasons which have for
fifteen months caused buyers to pursue
4 policy Of hand.to.mouth supply are
disappearing. As u ruiz. prices Of mer-
chandise are unprocodoutly lew; so that
II the purchasing ability Of consumers
has been lessoned, that difficulty 10 OF
set by proportionatS reduction 10 the
costs OF living and in the amount Of out.
lays ut large. Credits, as rule, arc In
a sound and wholesome condition; 80
that tho merchant wh0 dOsires TO Gu
large his stock and extend his trade can
have the neediul time facilities. and at
exceptionally low rates OF interest.
These conditions certainly lay tho
basis for sound and healthy revival oil
business. There Is in the intrinsic
state Of affairs little 10 suggest lnlsgly-
ings Us to tho future; there 10, on the
contrary, much calculated 10 establish
confidence in n continuous. steady,
stable and conservative course oil trade.
The country has learned come serious
lessons and therefore Ia disposed TO BIO
sober; hut It 10 also worry hungry for
moro trado and better profits, aud Is
therefore disposed to turn to active
account every chancs for improving
both.> For tho last four years, the per-
ception OF n coming change in our tnrif
policy has had more REFRESHING effect
upon enterprise than is generally sup
posed; and tho fact that that change
has at last come, with little prospect OF
It's being much disturbed for some
years to come, prepares tho way for
many long postponed undertakings.
Tho fact OF the common cheapness oil
materials and OF the quite general re-
duction OF wages has n worry direct
tendency to invite revival In certain
important branches OF TRADE. especially
those connected with building, machine
plant, public improvements and rail.
roads. How far the reduced scale OF
prices and tho exemption OF raw ma.
terials from duty may enable US to in
crease our export trade remains to be
seen; In tho meantime, however, 1t Is a
hopefully significant fact that last years
reduction in values was attended BY an
increase In our exports OF SIS, 00O. 600, as
compared with the year 1923.
The recovery that now sooms to be
setting in is something broader than q
revival from the effects Of last years
panic. That crisis, though immedi-
ately incident to the great silver fright,
embrueed also the etleGts Of the deeper
arrangements that set In with tho great
Earrings suspension, and OF which that
failure waa but symptom. Those de-
rangements were largely in tho nature
OF reproduction, oVer-apeculatlng,
oyer-trading, and were worldwide in
their influence, and their effects still
continue In tho persistent depression OF
trade in every European nation. 1.-THE
recovery from these four years OF react.
ion first makes its appearance in tho
United States, it is nothing more than
might be expected from the greater r.s-
silieucy of our resources and from tho
fact that we have been less intimately
connected with the disturbing causes
than have other countries. 1t is roa-
sonable to hope. however, that rocov-
cry on this side the Atlantic will tend
TO stimulate improvement on tho other
side; aud thus it may quite possibly
happen that the foreign markets, both
commercial aud financial, will respond
to tho Improving tendency in our own.
HESGY CLEws.