The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-18
BANKER CLEws' VIEWS.
The Financial Outlook NJ Seen From
MnII streeI.

New York. Feb 16.-rhe past week has
witnessed little change IN the speculative
aspects Of wall street business. There has
been, however. "a good deal of earnest
thinking, and on somewhat more cheering
lines. The financial class have ceased to
wait on congress and center their hopes
upon the contamination OF the syndicate
loan. Tho effect of the negotiation upon
prices was merely fractional. simply be-
cause spectators have become SO dis
heartened as to be almost insensible to
any sort OF exciting incident. Nevertheless,
the long-headed leaders are beginning to
feel that something OF real Importance
has come over Investment and speculative
interests when the Rothschilds ami other
great foreign bankers have come to the
rescue.
The loan contract bears an air of serious
purpose. IL includes dimly defined prOVis-
ions which suggest something more thau
a transient negOtiatOr's operation for the
reward Of "a round profit ana then leaving
the luckless borrower to whatever fate
betides The work undertaken by these
kings OF finance involves some very broad
commitments and some tasks which bent
only the bOldest and most resourceful
commanders Of capital. Such inanciers un-
dcrstand the significance Of an undertake
ing to repair the badly impaired finances
OF a great and vigorous nation. They APP
preciatc the prestige OF saving a nations
credit and are not likely to administer
"a momentary palliative and then leave
the patient TO perish. They work for high
prestige as well as for high profit They
comprehend that there Is such a thing as
patriotic gratitude, aud are aware that
"a nation saved from the verge OF mone-
tary degradation IS not likely to forget it's
benefactors.
In the present case. there are other con-
= deratiOns which very directly concern
the interests of these great negotiators.
The United States is now in a condition
that materially affects vast European in
terests. The process Of recovery from the
great foreign reaction that set I'm with
the Baring's failure moves slowly and
hesitatngly. There is still q conspicuous
absence of complete confidence; commerce
Is held in restraint; important enterprises
are kept in suspense; money accumulates
in huge idle masses; capital and invest
ment are suffering from stagnancy. Moth
ing contributes more than the enfeebled
condition of the United States to the
perpetuation Of these conditions In Eu-
rope We rank as the second trade power
in the family Of nations. Our demand
for merchandise is broadly felt in every
great market of the world. Our invest
ments are moro largely held in Europe
than those Of any other country. Above
ALL we are an important silver using
country; and the significance OF that fac
tor lies not wholly, If even principally.
in the question whether this may impair
the value of our securities held so largely
abroad but equally " the fact that, If we
come out Of our silver struggle with a
fixed and permanent commitment to the
gold standard, that precedent will go far
toward settling the same question for all
Europe.
II IL very easy to perceive, how under such
circumstances the worlds leading bankers
may sec in the restoration Of our finances