The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-18

the significance of an undertaking to repair
the badly impaired finances of great and
vigorous nations They appreciate the pres
uge OF saving nations credit, and are
lative and then leave the patient to perish
They work for high prestige as well as for
nigh profit They comprehend that there IS
such thing as patriotic gratitude, and are
aware that a nation saved from the verge
of monetary degradation is not likely to for
get its benefactors.
I'm the present case there are other con-
siderations which very directly concern the
interests of these great negotiators. The
materially affects vast European interests
The process of recovery from the great
ing's failure moves slowly and hesitat-
ingly. There is still a conspicuous absence
of complete confidence; commerce is held
in restraint; important enterprises are kept
in SUSPENSE money accumulates in huge
idle masses: capital and investment are
suffering from stagnancy. Nothing con-
tributes more than the enfeebled condition
of the United States to the perpetuat1on
of these conditions in Europe. we rank
as the second trade power I'm the family
of nations. Our demand for merchandise
is broadly felt in every great market of
1y held in Europe than those of any other
country Above all, important
a scop e n and she aRee
principally, in the question whether this
may impair the value of our securities
held SC largely abroad, but equally in. the
fact that, IL we come out of silver
struggle with fixed and permanent COM
nitment to the gold standard, that pre-
cedent will go far toward settling the same
question for all Europe.
ut is easy to perceive how. under such
circumstances, the worlds leading bankers
may see, in the restoration of our finances
and our salvation from the silver peril,
negotiation. 1t is easily conceivable how
they may regard the restoration. of Amer
lean finances as d great step na towards the
throughout the world at iarge-a fulcrum
for lifting universal confidence to higher
elevation. Upon this assumption we may
regard the purposes of the syndicate
probably extending much beyond the mere
short a purpose to stand by this govern
ment until its finances are placed upon
sure and permanent foundation. Wall street
bond transaction and may soon draw very
encouraging conclusions therefrom, calcu-
lated to develop a much healthier tone in
THE failure of the House of Representa-
tives to adopt the gold loan bill is most
disgraceful miscarriage of legislation, hui
initiating alike to Congress and the Nation.
AS the question turned upon the bubble
as between the terms 'in coin" and lin
gold COIN" and it may be just possible that
the House will attempt to redeem its dis
credit by some other form of bill, | would
suggest that Congress pass an act authoriZ-
ing the issue of 81 200 coo 900 bonds, the rate Of
interest not to exceed per cent. payable
the option when the government makes
payment of principal or interest to demand
therefor sss5, 600 go Of said bonds bonds to be
held in reserve to provide for that amount
of outstanding bonds. the holders of such
maturity to convert them into the bonds
authorized by this act bearing .21a per cent.
interest-the s50O,OO000O remaining to be is
sued at the discretion of the Secretary of
the Treasury, with the consent OF the
President Of the United States. for the pur,,
the resumption act of 1876, all other pro-
visions in said acts to be repealed on the
enactment of this measure.
1.-THE first half of President C1evelandS
administration certainly proved very dis
of the country. as it was full of object
lessons of drastic character. The Presi-
dent has now commenced on the last half of
his term of office; and there. are not want
ing indications that his policy will be to
restore confidence SO as to bring back a
returni of prosperity. His object lessons
hereafter will be directed to the members
of Congress and not to their constituents.
This Is one good reason for the belief that
ly into cheerful summer"
Saturdays Bank CIearings.
At ST. Louis-Clearings, $2,911 ,566; for the
week, $40 IL, AS; balances. $43l,6s5; for the
AT MISUNDERSTANDING, s2,3ll, 1896; bal
ance a, $22s. 942 For. the week: Clearings,
At ACKNOWLEDGEMENTS. s1o.151. 7ss; bal
s57,s7a, s4s; balances. ss,s72,s7 80 go -. =,
s457 800, 800 balances. ssi, l5sas7 'e''
At Boston-Clearings, $13.276,O94: balances,
81, $751; 06 For the week: Clearings, $685.
251; balances, So. S26, $780,
At Chicago-Clearings sl1s1oooO; for the
week. $72, 633, 0O0 Money 4@4lh per cent on
call; SOS per cent. on time. New York ex-
change, 4O@45c premium. Sterling CONNER
cial, 81. S6A .871a
At New Orleans-Clearings, sS09.9s1.
At Memphis $312,351; balances.
$114,7S4.
At Cincinnati-Money firmer at 2ik66 per
cent: New York exchange, soc premium bid
Clearings Sl,691,O00; for the week, 11,S29.-
500.