The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-17

erEment monthly crop report showed bet
ter condition OF the cereal crops than had
tsen expected, and encouraged revival OF
which was helped by better feeling at
London on the completion of the fortnightly
settlements; and this recovery has been
held up 10 the close of the week Beyond
these accessons of confidence. late in the
week reports were received from railroad
officials in the West indicating materially
better present conditions in the wheat crop
than were shown by the Government report
as for June /. One telegram from the
President of important system repre-
sents that, for the great wheat belt COW
ering Montana. the Dakotas and Mime
sofa. the wheat prospect has rarely been
better. 1t is probable that, in other sec
tons. there has also beer an Improvement
in crop conditions generally beyond what
was represented i'm the bureaus estimates
of fifteen days ago. These are very sub
stantial contributions to the future strength
Of the market, and are likely to affect ia
vorably the London markets as we'll aslour
THE drift of conditions seems to be car
rying the market forward in spite OF the
efforts of professional bears TO- break
on the part of some bulls to see some re-
action in prices and TO permit the market
TO repose for time On its intrinsic merits.
There are, however, NO appearances Of
coming check i'm any direction; and. from
the present outlook, il seems by no means
improbable that we may have good active
market during the summer, which may
bring regrets to operators who may choose
to prefer recreation to watching Wall street
opportunities
ANY improvement i'm the prospect of a
good surplus Of cereals for export will have
an important bearing upon confidence. Ow-
ing 10 the growing demand In the mer-
chandise markets there is a probability of
the fall imports being large and that PROB
ability is strengthened by foreign reports
of large purchases by American importers.
1t is therefore the more important that
our exports of produce should be on a
liberal scale. so as to obviate the POSSIBLE
fty OF important exports OF Specie-that be-
ing the only sore spot remaining from the
financial dangers through which the coun-
try has passed since 1898. In some quar-
far the loan syndicate may be depended
upon 10 protect the treasury against la
bility to export drains of gold after the
winding up of the loan contract of last
February. There are no open assurances
upon this point. but the feeling is almost
universal that the syndicate will not retire
from it's regulation of the foreign ex-
changes until understanding has been
reached. as between the treasury and the
large local bond holders of gold, that will
protect the government against its former
exposure TO drain. Such course seems
so necessary in order TO prevent an ulti-
mate collapse of the syndicate scheme, IL
is also so important to financial interests
of every kind and the prevention may be
so easily achieved in pursuit of mere or
binary methods, that il is generally re-
garded as an entirely safe assumption
that all needful precautions against a re-
reserve will be adequately provided for.
This being assured there remains no cloud
in the financial horizon TO suggest a mis-
giving.
wall street. though taking no active part
in the silver question. watches closely the
prospects OF its solution. 1t knows just
and otherwise popular ciamor of the South
and West in favor of Is to l free coinage
IN the United States. and has no fear of
the ultimate success of that programme
Notwithstanding agitation There
has been, however. a considerable number
OF conservative men who have favored the
unrestricted coinage Of silver provided il
could be done upon a basis that would in
sure the full cooperation OF all the leading
nations. including England and Germany.
The recent utterances and action OF those
two governments on this proposal have
however. dealt serious blow to the hopes
OF the class who have thus stood midway
silver standardists. The British Chancellor
OF the Exchequer has emphatically affirmed
that the present Liberal government would
under no circumstances. make any de-
parture from England's established policy
of the single gold standard. The leaders of
the Conservatives. who hope TO soon get
| into power have been formally notified that
any countenance to silver would lose them
the support of their followers. which puts a
quietus on Mr.. Balfours silver sympathies.
As to 4fermany, that government. has
| promised its bimetallist subjects that Ii
would make proposals to England for an
international conference provided all the
| States OF the empire should approve of
such course Already. the replies from
| the States show general disfavor to BIZ
metallism; which preciudes the imperial
| government against taking any steps to-
wards monetary change. Thus. 1t would
seem, that the prospects favorable to in
ternational bimetallism have become ma
| terially diminished. This important change
| I'm the situation is directly calculated to
| secure the adhesion of our internationaists
to the gold standard; which is large
| gain towards a safe settlement OF this
troublesome question.