The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-04-08
nAaKER CLEws' VIEWS.
The Financial OutIooIS as seen From
Wall street.

New York April 6-The late unusual
fluctuations in the price Of silver have at
traeted considerable attention. The ups
and downs have been largely speculative.
but II is not easy TO satisfactorily ex-
plain the motives Of the speculation. The
movement has been chiefly confined to
London, and has not caused any important
operations here, The supply on the market
being too small TO admit Of large transac-
lions. The prospects Of q bi-metaliic con-
Nention being called naturally suggests TO
some the hope Of a nearer approach be-
ing made TO a settlement Of the silver
question The price too. has, Tor some
time, been exceptionally low; and. in some
quarters, IL is believed that the product of
the metal is declining; but on that point
there IS considerable difference OF opin-
Ion. Again, many take il for granted that
the payment Of the China indemnity. as
stunned TO be 4o0.00O000 silver yen. or $780,.
UO1VUO in gold, viii cause a large demand
p Tor silver and its subsequent boarding;
which financial manipulators might cas-
lily use effectively as an element OF specu-
lation- From the standpoint of these fac
tors, there was effective material for such
speculative advance as has been real
lied. One-haf of the recent rise has
been lost during the past week; and that
TACT seems 10 indicate that the leaders
OF the movement have taken to realizing.
There is an opposite set % factors which
might easily make them willing to do so.
Cd While there is much probability that
another silver conference may be called,
yet the chances of its reaching any sub
stantal agreement are a different mat
ter. % The best authorities on this side
Of the Atlantic take little stock in the
supposition that the American product
is diminishing. 90 The purchases Of war
material in Europe by the belligerent
Asiatics have been 10 very large amount
some estimate fifty or sixty millions; and
payments for them have been made in
the silver of the two nations, which is
now held by Asiatic agents Of the Euro
pean banks that have collected these
funds, available for use in the Asiatlc
exchanges, and which acts as a proven
tive of exports of silver from Europe to
Asiatic ccnters. And Cd, while there Is
little doubt that China may have to pay
a very large amount OF silver TO Japan,
yet it is evidently intended that the pay
ments shall be made in installmcnts eX-
tending over long period; and the in
demnity win thus be simply a transfer
of silver from one Asiatic country to an
other and may have little bearing on the
silver movement between Europe and
Asia. As a matter Of speculation, there
fore, this silver situation has many sides
to il and many uncertainties
Employers are encouraged by the
brighter prospects for a gradual and al
most sure return Of prosperity. They
have, in consequence, in numerous in
stances, commenced to voluntarily adj
vance wages, which, in itself is substantial
evidence of their confidence in the per-
manency Of the Improvement which has
already taken place, and in each instance
where wages have been advanced a cor
responding MAKEUP has been made in the
stock in trade of those who have taken
the initiative in this direction. For the
first time in many years, extensive rail-
road building is beyond doubt about to
be commenced. a larger construction of
mileage viii probably be made in the COM
ing year than for several recent years
past This cannot fail to give consider
able Increase of employment to labor, as
well as an impetus to the profitable pro
ductiOn Of iron and steel The very large
advance in leather goods Of every descrip-
tiOn with an active demand, has already
put that industry back to its former pros
perity Cotton and wooden goods are also
finding an increased demand at advancing
prices. Business recovery is very percep-
tible in all directions, and the return OF
confidence and courage IS certainly most
encouraging. This change for the better
is largely due to the belief that we have
witnessed in this country the
last Of tariff and currency
tinkering as well other detrimental ma
tional legislation for years to come, and
from appearances there is nothing that
meanwhile is likely to occur which viii
upset the present advance movement to-
wards Improvement in business affairs
generally throughout the country. Bad
crops Of course, would make a serious
setback but now that the wheat and
corn belts are having copious rains to re-
Iieve the prolonged drought in that sec
ton the prospects for good crops are
most encouraging, so that taking every
thing into consideration, there is sufH-
cient basis for the return of good times
without any serious setback. There car
be no better evidence of this than the in
creased demand that has recently sprung
I'd for the better class of manufactured
goods of all kinds. This is due to in
| creased extravagans7c on the part of the
people, which is a natural American
quality. The enlarged expenditures from
this source open the way to more eN
tended and profitable business as a nat
ural outcome from such conditions.
VERDICT FOR $4,000.