The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-30
BANKER CLEWS VIEWS.
The Financial Outlook as Seen From
Wall Street.

New York, Dec. 2.-The time has now
arrived for the banks to do all they can
10 protect the United States treasury
from periodical gold drains and they can
easily do 1t by an understanding AMONGST
lhemseives-to make it less easy for their
dealers to draw greenbacks from them to
get gold from the treausry. If the green
backs, when demanded, are paid out in
small bills over the counter. requiring
each bill to be counted before leaving
the bank, and then counted again at the
treasury, and the gold given therefor also
Pdlu out over the counter recurring 10
pc counted by the receiver il would not
De so easy or agreeable a matter to draw
Sold from the treasury. The banks of
England, France and Germany put all the
obstacles possible in the way when gold
- required from them in large amounts
70 sehd out OF their countries, while in
TINS country we have always done exactly
me opposite. The banks have furnished
me me Iacllltles by giving greenbacks in
IdISe quantities when called for
which are presented to the treasury as re-
celVed from the banks, and the govern
ment gives gold in exchange almost in
stdIltly, IN bags with the governments
seal on, the amount being officially
marked thereon. These bags as received
from the treasury are put on shipboard
ana depart from our country, seriously to
our detrlment in times like these. The
general feeling in Wall street now is that
the war panic is over and that President
cleveland VIII appoint as members OF the
venezuelan commission able, digni6ed and
upright men, and that such a commission
can then be relied upon to be instrument
tal IN erecting settlement of the Anglo
venezuelan boundary dispute to the credit
ana honor of both countries. A settlement
through diplomacy will certainly make a
better record for President Cleveland and
congress than can possibly be obtained
through drawing the sword against a ma
ton Of our own flesh, blood and language.
a people with whom united we stand di-
Vlded we fall. The present contest of
races is for domination. 1t is, therefore
all important for the English-speaking
people to stand together. 1t means the
spreading Of civilization and Christianity
TO all parts of the globe. A war between
England and the United States would
be in reality a civil war, and as both
nations are brave, bold and determined
IN warfare, the disaster would be beyond
conception, and could only result as a vic
tory 10 oarbarism; or, at any rate, ire
mendous setback to civilization.
The financial situation now needs con-
gressional action for it's repair. If a bill
were speedily passed of the following
character l think il would meet the case,
as the government wants gold now and
not currency: The act should provide for
an issue of certificates having three years
cent. interest, to be sold at 100 only for
gold. ON such an obligation the gov
eminent could get all the gold from time
TO time that it needed without any diff
Guilty. l suggest a certificate in place of
a bond to be issued, because il is argued
in congress that to pass an act to issue
gold bonds at the present time would be
an invidious distinction against the other
BILE in coin.