The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-15

was confined to limited group Of stocks
which circumstances had simultaneously
favored; and there Is evidence that the
rise was sound, 80 far as IL Went in the
fact that the advance in most of those
securities is still well maintained. not
withstanding that the speculative interest
in them has subsidized, and that the realizing
has been considerable. The squirt in these
specialties has thus left behind II no dis
that the market is becoming more sensitive
to improvements in the intrinsic condition
of securities and Is gaining In staying
qualities
So far as respects the securities of the
leading railroads, while interest is increas-
ing in those that are in process of financial
reconstruction, yet the mass OF western
roads are dealt in sparingly- As the crop
movements are, at this season of the year,
at their lowest ebb the earnings excite
little interest and show no stimulating
gains on last year. The Vanderbilt proper
ties, however, have given a good tone to
the market, their backing having come
from both home and abroad; ana the Lon
stiffness from the foreign exchange market,
which has materially helped to strengthen
pect any show of better earnings in the
roads at large growing out OF the lmprov-
ing condition OF business IN the counify
progresses. however, the effect must ma
expression in the business of the raiiroads;
and it is reasonable to expect that, with the
prevailing increase in general commence,
when that stage is reached there Will De
tation Of that phase is imparting confidence
to the market hut is not an element strong
enough to induce any active buying. Eacn
week brings us nearer to the time Wnen
crop forecasts can be made with some
definiteness. and should the prospect remain
as encouraging as 1T now is, THIS must
become O. hull element of some impor-
lance.
toms continue to be encouraging. The up
ward tendency in the prices of merchandise
becomes more marked, when means no DO
among anDass the the trading ad Community we, have
IN m''i petroIen ls cotton and beef. Coal has
also been marked up and also silver, thus
showing the tendency OF yide NJ that
the country is waking up from It's long
existing condition OF pessimsm, ana .ha ao
those engaged in business undertakings.
The outlook for the crops generally mas
country Particularly wants this year, how
ever is a good yield of corn, ana not ,e eA-
cessive ones in either wheat or COTTON n ns
benefit. while the former cannot De, as u -
a product that never deter1orates with age;
and makes the most solid and healtny , 1000
for both man and beast. In 1t we nave iltle
competition with other nations, ana no
fear of any. 1t is therefore emitted 10 De
try and has dethroned cotton, Wnicn USED
to be so considered 20
the income tax law which was sustained
should have been by a tie vote. as II VIII
lncrcdSeu
of the taxpayers. 1t leaves a grave doupt
in the minds of most people as to the con-
sttutionality Of the law, II man that d douht e
why should it not be genera WIN ,., sns
taxpayers? !, therefore. doubt wiener
amount of money as an income tax under
the circumstances. excepting It IS done
under protest to admit OF It pelng again 1ar "a
decision This attitude would not have been
taken by anybody II the decision had been
that case people would have paid the tax
ungrudgingly, but now In paying II 1ney
certainly will feel otherwise. It is also
with the largest incomes In the country
through inheritance of real estate, men who
from paving any tax on their great i'm
comes while men who make their incomes
by their own daily labor efforts. with great
attending risk and anxiety are compelled
to pay a tax on the incomes so derived. 1t
makes most unfortunate un-Amerlcan DIS
tinction, and one that will make the income
tax most distateful one to all American
people, with the exception of the large
land owners. The income tax law, as 1t
now stands, is in about this shape: If I
had a farm and rented 1t. giving me an
income of $4,000. should not have to pay
any tax that income; but my tenant
would have to pay tax on his income de-
rived therefron. On the basis of justice.
the reverse should be the case.
The great activity among the silver
propagandists of the West is attracting
much attention; the more fir SO as II appears
tional free coinage, independently of any
international arrangement. OF course. but
one result would be possible under such a
state of things-the suspension of gold pay
ments and the forcing out of the country
however, that this suicidal scheme should
receive all the publicity the silver fanatics
are trying to give it. When the next presi-
dental election comes, the honest popula-
ton of the country will understand the
meaning of the plot and will be prepared
with verdict that will settle all such rant
once and for ever. In the meantime Pres
ident Cleveland will see to it that no further
harmful silver legislation gets on the
statute book.
Saturdays Bank Clearings.
Chico vo-Cla rings x10 e12 mn. fotol FOR