Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-11-20
oleMs on stnni..

.ne immeoiate effect OF the bond issue
was realization OF profits MADE in
ANTICIPATION OF the event Itself. Its ul-
uHale eHcct Will be 10 strengthen
SNu a., Doth ut home and abroad.
necessity Of the loan is a misfortune.
bnt the determination or the govern,
neht TO protect the national credit by
the pest possible expedlent. until the
ueeper cause for distrust OF our cur
rency system can be remedled, ia the
strongest sort OF argument for conf
uence. MI Cleveland has been lavish
enough In promises TO this end; yet
nus action In the matter has not been
prompt enough TO meet the preference
OF the banking community. Eu-
rope however can now rest assured
that our currency will be maintained
upon gold basis, and this will do
much toward overcoming the pre1u-
ace or foreign holders. who have very
huufhlly feared that interest and
principal OF our securities might some
uhy become payable only In dubased
money As for business interests.
sufficient time has not elapsed TO ac-
tually feel the results OF the late cleo
ton. Everybody now believes that
sllverlsm, populism and tnriff aglta-
tion are questions OF the past: or at
'Nss+N hAsNN Wv NVhAANiN Is ANHutlNh VI u
rest from such disturbances for some
time to come. Industry Will thus re-
ccive encouragement towards renewed
eNertlon. and while from the nature Of
the case recovery must be slow. II will
be certain and vastly more substRn-
tial than could have been possible
except for the popular verdict OF No
vember G, one OF the most satsfae-
tory features OF the times Is the uni
versal aversion displayed to any re-
vival In the shape OF n boom"
In some quarters there Ia dispos-
lion TO eNnggerate the effects Of low
prices for wheat and cotton upon the
agricultural interests 1t Ia overlooked
that both wheat and cotton can be
raised much more eheaply than former
ly, and that II coats less to handle and
transport these articles than ever be-
fore In some portions OF the South
cotton can be grown probably with
profit even Mt the present depressed
price, and In other sections where
low prices press hard some oomppnsa-
ton IL had from better Fertilizers and
better methods OF cultivation. Again.
we have n great abundance OF these
low price commodities, which brings
their aggregate value up to normal
volume, Consumers are benefited by
these low prices, ana have more TO
spend In other directions About 50,-
600 5000 bushels Of wheat have already
been fed TO cattle with advantage, not
wasted. and good authorities est.
mate that as much again will be used
before the next crop. when all these
and other offsets are considered. Il will
be seen that the present condition Of
the American farmer while bad
enough, ia not quite so wretchpd as
many would have us believe. Through
all these long months OF panic and dis
tress we have had fewer complaints
from the farming than from the man
ufacturing districts; and as the
farmers In common with others are
sharing the cheapened cost OF living.
we cannot believe that they are worse
of than other divisions OF labor.
AS for the Industrial situation. that
- hopeful. our textile mills arr not
fully employed but they are turning
out larger product ut better r.onts
than six months ago. The boot. and
shoe trade has been eVry kt6& NJ
low priced goods for several months,
The iron trade revlvea very slowly;
stlll there is an unusual degree OF
confidence in the future, and many OF
the western establishments which are
most faNorably circumstance as to
locality and plant are running close
10 thclr tull capacity. Tne STOCK TX
change Is not blind TO all these fac
tors. Investors show general conn-
dcnce In the future. and while often
not able TO buy. stubbornly refuse to
sell; In fact. the tenaeity with which
stocks and bonds are held is unusual.
Money Is plentiful and easily obtained
for enterprises OF merit: but railroad
stoc are naturally neglected while
earnmEs continue SO poor. Better
business, however. will soon result In
improvement In this respect. hence
railroad shares will quickly share and
possibly anticipate the brighter pros
poets now in view.
HENRY CLEwS