The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-28

w. .. + Bret t. 81: 1ss l & * *
western Union Apfess. Sii ST. SIX 81 ST.
L. >. Fours, reg....... -. 80. -. 113
=. .. ours. conp..... lib
WEEKLY REVIEW.
Henry Clews. of New York, in his re-
view of business in Wall street last week
says:
business in Wall street remains dull.
In the investment department, the trans
actions fall considerably below what is ual
mortgages. yielding about per cent, are
quite steady. Speculative transactions are
almost entirely confined to room operators
and all efforts to stimulate buying are spas,
modic and fall fiat. AT the moment, the
bears seem to have the upper hand, perhaps
rope in order to entangle them in q squeeze
Inc strong feature in the market lies in the
and that the owners of stock regard sec,,rl,
ties as intrnscaliy cheap at current quota
lions and therefore Will not sell except at
an advance upon present prices.
Inc market is in a mood to seek an oc-
CASTOR for postponenaent of operations; and
1t hnds one ready to hand in the treasury
situa ton. the currency question, and the
hardness OF Congress in doing something
towards settling these issues. 1t is general
~ conceded that in the way of legislation
on the currency question, nothing is likely
to be done at present, nor indeed can be
ing for the present Congress. The feeling
In favor of the appointment of a national
commission on the question is quite general,
and the recommendation to that erect by
the Chamber of Commerce is likely to
strengthen that sentiment. With respect to
providing authority for borrowing TO
strengthen the treasury the feeling IS one
of growing Impotence, expressed in strong
pronunciation of the neglect of Congress.
IhlS pOStponement is more inexcusabIe be-
cause the inevitable necessity for the thing
being done leaves little room for delay
arising from differences of opinion. The
uneaslness this account is increased by
the suspicion that the inaction of Con-
gress is due to fears that action in this mat
ter may bring up again the eternal silver
question, with all its disturbing influences.
The question of the kind of money in which
the treasury bonds shall be made payable
applies the match to a great deal of explos-
i've congressional material, and the Wash
ington leaders hesitate as to what is the
best way of getting around the difficulty,
the more so as the SilveriteS are evidently
awaiting the occasion for wrestling from
sion to silver. AS usual Senator Sherman
steps to the front as ready compromised,
and aadno instead tie OF Strengthening public con,
be payable in gold, introduces bill provid-
ing for an issue of per cents payable in
com, which means silver well as gold.
The Senator insists that the word coin
has always been used in government bonds,
1T should continue to be. In taking this
that when that word was originally inserted
in the bond silver (Which is much coin
when the present bond act was passed
which is now the only authority for the is
cuiation in this country. Senator Sherman
must know that since that time, silver has
deprecated from premium over gold to
less than 6oc on the dollar. hence the word
coin has not now the ring that it once had
Senator sherman would make a good
heather Chinese if in China, because in
that country they still continue to use the
old-faShioned war weapons which they COM
menced with, and do not even now deem it
necessary to change them to meet the con-
ditionS called for by modern warfare. 1t
Is for that reason the little Japs have driven
ury, 1 fear will be equally as badly crippled
the Chinese are at the present time, If
Senator Sherman and Congress do not in
fuse the word gold into our bonds, which
modernized conditions call for with first
class nations. The, nation that keeps
abreast of the times, whether in it's money
or its weapons, will conquer in the. end.
Feudalism has passed forever. The enlight-
eminent of this generation is not likely to
give way to another dark age. II Senator
Sherman will allow his mind to wander
back over the past forty years he will rea-
nected with the human race has been
greater that for all previous time, which
calls for revolutionary changes in methods.
This country, therefore. must recognize gold
as does England, France, Germany, Austria.
and Russia, as the money standard, and
Contracts bv Legislative enactment This
country will then be secure basis for
the people of all other nations to deal with
us.
There is very clear evidence of progress
in public comprehension OF the nature of
our financial QiI0culueS. IL Is seen tl1at the
bank currency question is only indirectly
connected with the treasury question; and
that the treasury question has two dis
tinct branches, relating to deficiencies
of revenue, and the other to the retention
Of gold in the treasury, each of which re-
quires distinct methods of adjustment. The
gold reserve is the most acute disease and
WILL perhaps, prove the latest to yield to
treatment. 1t cannot be finally remeded
until the banks feel at liberty to resume
their former methods of paying out gold,
and there are reasons to hope that some
the obstacles at this point can be overcome.
Light is dawning; and the way out of our
endorsements is becoming daily more Wis
ib,e.''
saturdays Bank CIearings.
At Ch.cago-Clearngs S1o,9O5 900; for the
week. ss1, y, 900. Money, 4Gi4la per cent.
call; 50i6 time; New York exchange. soc
premium; sterling commercial. 4S71a@
ASA.
ances S1,437 66S; for the week. clearings,
s64, $50 92S; balances. So, 229, $50.
At New York-Clearlngs, 1874, Ss0572: bal
ances, Sl5,313, 404 for week. 1885, OIL ,039; bal
ances. $50, 706.2 36
At misunderstanding s1407s,041: balances,
S10.2i7, $40.
At Baltimore-clear;ngs, s2,24s,l6s; bal
ances, $685., 55S-
At st. Louis-Clearings. ss.1OS242: bal
arceS, SS1S, 632
At Clncinnati-Money, 21.a6 per cent;
clearngs, 81, $500
LOCAL GRAIN AND PRODUCE.
steady Prices Continue, with Only a
Fair Volume of Business.
In all departments prices in the week