The herald., 1895-03-22
General Produce Markets Show
an Upward Tendency
SLIGHT ADVANCE IN PRICES
Poultry and Eggs Are in Demand and
y" Higher
cver-SuppIy of Butter Causes a Weakening
In Prices-Eastcrn Orange
Market

Advces from New York, Philadelphia.
dBoston and other Eastern markets received
at the Fruit Exchange yesterday were
somewhat more encouraging for the Cali
fornia orange growers. The weather. which
has been very unfavorable, has cleared
sup and there is an improved demand for
. iNavels; seedlings, however, very slow,
and as they are brought in direct compe-
ttion with foreign stock they feel the
effect much more in proportion than the
best article of the home product. The
Chicago market is reported full of cheap
stock, which is selling at about freight
charges and of course the,California fruit
stands no show against this sort OF com
petition. Lemons continue i'll good de-
mand, and there is ready mark Tor all
the good stock that can he secured.
Real estate transfers held up well, the
number of transfers being fully up to the
most sanguine expectations The most
gratifying feature of the market is an
almost utter absence OF anything like
speculative business, and the fact is
further borne out by the general activity
in the building trades.
The American Banker, discussing
Comptroller Eckels' regent paper on the
currency question, says:
The keynote of Comptroller Eckels'
paper in the March Forum is the retire
ment of the greenbacks as one Of the con-
ditions of commercial revival The de-
bate in Congress served to bring in more
general discussion the principles upon
which that currency exists, It's effects
upon the gold reserve and the question of
its retirement 1t cannot be SAID that the
point OF view from which the subject was
generally considered in Congress was
founded upon motives inspired wholly
by search for the truth The greenbacks
were there apostrophized as the special
currency of the people, who rejoiced in
their presence and were assisted by them
in the pursuit of happiness. But the
people themselves were really looking to
the matter in business light. Most of
them, as a matter of fact. never saw u
greenback. Many were not aware of any
particular love for a greenback which was
not Just as fervent for silver certificate
or a gold coin. They did begin to per-
ceive that principles of currency were be
ing persistently violated by the presence
OF this mass OF paper in the circulation.
And Comptroller Eckels correctly says
r that it is a mistake to suppose that an
iunfavorable vote in Congress upon q
sound measure carries with it public ap-
proval or OF itself reconciies the public to
the endurance of q condition of things IN
the business world which every thought
full citizen is certain not only ought not
to exist but would not exist if the law
making powers were more given to the
furtherance of financial legislation in
herently correct and less given to that
which seems merely polite in its char
acter and promotive OF special interests. -
\ The fear that the nation will not be
able to maintain the gold standard is the
secret of the existing widespread distrust.
The fear is founded on certain recent cur
rency developments. The existence of a
large mass of paper payable in gold, which
does not diminish however frequently re-
deemed ,and the difficulties of the treas
ury have stimulated this fear. The re-
moval of Il considerable mass of the paper
issues of the Government would diminish
one OF the elements of confusion which
exist in the present situation. and restore
the financial system of the country to the
place which it should occupy in the re-
gard of thoughtful men. Tins Mr.. Eckels
believes that complete confidence cannot
be restored by simply increasing the gov
ernmental income, but even if it could be
thus restored there would be no guarantee
against future improvement through the
same cause.
I'm answer to the notion that the
greenbacks are an inexpensive obligation
because non-interest bearing Mr.. Eckels
affirms that from first to last they have
been the greatest burden ana most ex-
pensiye debt ever placed upon the Gov
ernment. The loss to the people through
the speculation engendered by them, the
financial heresies to which they have
given birth, the damage to individual
business enterprise and credit through re-
curing doubt as to the ability of the Gov
ernment to maintain the payment of
them in gold, cannot be reckoned in
tiUuroG , ~