The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-02-19

can buy which is not reasonably calcu-
lated to yield them a profit
There are symptoms that this turning
stage in the now prevailing depression of
business has been reached. At any rate,
there are not a few shrewd observers Of the
signs of the times who have come to that
conclusion and are acting accordingly. 1t
is not difficult to trace these beginnings in
the real estate market, where there Is a
distinct disposition to buy well-situated
properties with a view either to r~eselling
on a rise or to erecting large office build
lngs, and such transactions are done at
better prices than might be expected under
the circumstances. In some of the more
staple kinds of cotton goods, of which there
is some accumulation, manufacturers would
find no difficulty IN disposing Of large
amounts 10 speculative buyers, If the hold
eTs were willing 10 make moderate conces-
slonS or price. There are symptoms also
mat the hardening tendency in the coffee
market Is due TO carefully concealed eff
ADVANCE: During the past week important
applications have been made to the banks
LOT advances on wheat collateral. which
the banks. contrary to their usual indifer-
ence TO such loans, have readily enter
Ialned. Most Of these operations are I'M
9srtaken by men OF capital, outside of or
lIoh that prices have touched their lowest
polht and must yield a profit upon pur-
enases. These unmistakable facts are the
HISl rays OF light breaking from a gloomy
situaIlon and may be fairly construed as
the beginnings Of a general Frightening up
OF the prospects Of business.
4 course. the still unsettled state of tar
III legislation holds this tendency to a GER
tam extent in suspense. The impression is
pretty general that the Senate will not raise
serious obstacles to the final passage of a
mOdlfled tariff measure; but IL Is less GER
tain that considerably opposition may arise
ana that is a contingency that throws
doubt upon important matters connected
with the tariff bill proper. No doubt. these
uncertainties put a check upon the DISPOSE
ton 10 buy on speculation TO which refer
ence has just been made. This particular
IN nf GTa hnnraEnr DC lfknlrr g. 10
cleared away within the next thirty days
by the final action of Congress upon these
matters; When this disturbing. element is
DISPOSED Of, a great relief will be felt In
every branch of trade and enterprise; and
That, Whatever may be the final settlement.
III the Wilson bill, or something like il, be-
comes law. the conditions of the future will
be distinctly known, and business can pro-
coed accordingly. If the bill is defeated,
tinuing on its old basis. In any case. there
fore, it has become only a matter of days
before a great source Of national suspense
becomes an affair of the past.
1t Is a matter of far more than mere re-
greet that Congress is again seriously en-
yer currene cye 9 The Bian I'd b bh1a pro6o Seg n nt5t
only to coin the seigniorage silver. amount
ing TO 55,00O,O00. but also to transform the
either silver or gold, into silver certificates.
This would increase our silver currency by
a CONGRESS Gap capa:b Gr o p SUCH feR a re af Ms ha dee
parture from the spirit and principle of
the repeal act. what is that act worth to
the country as a basis of confidence on this
most important question? Plainly, very lit
tie. And yet 1t Is conceded among Con-
Gressmen that this bill Will be passed not
only by the House, but the Senate also. 1t
is true that, according to all accounts, the
President may be depended upon to veto
the bill; but nevertheless 1t will be a reck-
less blow to confidence If Congress thus de-
lberately declares Its sympathy with the
fatal doctrines of the silver faction.
The conservative element In Congress has
made a great blunder of management in
neglecting to concentrate all it's force on
passing a bank currency bill of such a ma
ture as, while insuring the most absolute
safety to note-holders. would also remove
the existing vexatious prohibition of issues
by State banks That could be so done as
to provide for both national and State banks
as sound a currency as is to be found in the
world. Had this been done, the reaction in
favor Of silver could never have appeared;
for a large portion of those who are now
ready TO vote for silver plead in defense
that they are driven to hat means Of get
ting more currency elasticity by the fact
that the banks of their States are prevented
from issuing notes. If this element were
conciliated, there would be no possibility of
getting a majority for more silver money
in either house of Congress.