Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1895-02-22

OWlth the bankers
mi. throughout the country, re-
SI.&a ports an improvement III
@7fS@ business. This i'm
EMiEl%~ provement, he says,
ENH.I!lsA began some time ago
..'tGE&ssS&SA n is going steadily
YmIIi1 ~ on. His information
lnIlG-M4MgsN5S}# warrants him in en-
@EwaE3%. pressing the belief
5y46s8fSSNsUf A. that it will continue
.tl Ell q W VI tthSzN@p to go steadily OH, UNI
til the normal condi-
xii. mssmnmw ton has been on.
SlNellaaa'. XMF1THiV;ss more reached. He is
|fTT%5: d 11ll' s: : +; : =:;;;: :;; ;|;: # ? i; !: !;
not believe that the country is going to
the "demnition bow-wows" or that II ia
anywhere aear that place. Though Of 81
naturally optimistic nature, Mr.. Iec!sels
is sufficiently conservative to refrain from
expressing any opinion under which he
has not u good solid ground for founda-
ton.
He is in daily communication with the
national bankers, and it seems as if every
one of them felt called upon to give his
opinion as to the condition of affairs in
his particular section of the country, all
of which is very agreeable 10 the Comp
trOller. His correspondents are the ablest
men of the country. They have carved
their w way in the world, and have
achieved q prominent niche. They do
not give their opinions for the purpose of
publication or to achieve any Interior end.
They merely write them MS bits of Cos
sip. thinking they will interest the Comp
tro!lcr. These national bankers, receiv-
ing their information from business men
of their respective communities. who
come to them for loans, probably probe
more clearly into the very heart of the
trouble and condition of the general public
than any other class of men. 1t is their
knowledge. given with the honest purpose
of supplying the Comptroller with accu-
rate information of national affairs, which
forms the basis of Comptroller Eckels'
opinion.
The chief trouble which the present con-
dition of affairs is causing the country is
the spread of fear in Europe that our ma
tional credit is in Il shaky condition. The
report has gone abroad that we are not
to maintain gold payments. and American
securities, held in such enormous quanti-
ties by foreign investors, will be paid for
in silver or some deprecated currency.
This naturally creates apprehension and
distrust. The Presidents message has
had a wonderfully rcviving effect on
Europe, according to private information
received Mt the Treasury Department.
And many Inc and corporations of great
wealth seeking investment, and who u
month or SO ago We're doing their best to
realize on their American securities, are
now perfectly willing to hold them. There
are plenty left, however, who fear that
this Congress is not to be trusted, and
that some legislation dangerous to the
stability of IL national credit will be in
augurated ere the final adjournment. This
feeling possesses, i'll Il slight measure, a
few American bankers. They are. how
ever, of the timid class, and though their
feelings may he extended to their GUS
toners, the damage will not be SO very
great.
President Cleveland appreciates this
feeling, both here and abroad; ut q recent
Cabinet meeting he expressed himself as
being strongly opposed to an extra ses-
sion; SO strongly. in fact, as to warrant
him in informing his associates that there
would be none, unless some unforeseen
emergency should arise. The President
does not believe that the prospect of Sc
curing party advantages alone would war.
rant him intlicting I'm extra session of
Congress upon the people. The situation
must take OH Il much darker hue. 1t is
his belief, based on communications from
people in all parts of the country, that
what the country wants is q rest from
Congress. He further believes that the
recovery of business will be more rapid
if members of Congress are at home, in.
stead of at the national capital in session.
He shares Secretary Carlisle's belief that
the revenues will soon be sufficiently large
to meet the Government expenditures,
and when thNt is proved to the general
satisfaction confidence will strengthen and
the need for further issues of bonds dis
appear. Such is the situation to-day.
Employees of both houses of Congress
are spending u good deal of time on their
knees, praying that IN extra session will
not be called. No particular love of conn
try actuates them in their desire. 1t is
purely personal with them, though they
may possibly think that their own per-
sonal benefit will indirectly add to the
benefit of the country. The fact is that
an extra session means the cessation of
their present jobs. If there is no extra
session their terms of employment will
continue until Congress meets in regular
session mex December. That c the
loss or gain of just about nine months
salary to them. Should the Fifty-fourth
Congress convene in session Immediately
after the close of this Congress, new Off
GERS would doubtless be elected by the
Senate, which it is expected will reorgan-
ize, inasmuch as the Democrats are no
longer in the majority, and the employees
now enjoying soft positions at remunera-
tive prices will have to seek other m
ployment. And the seeking of other en-
ployment to a man who has enjoyed a few
years in the service of the United States
Senate is about as disagrceablc a job as
ever confronted q politician.
The day after the last election Logan
Carlisle, Chief Clerk of the Treasury, re-
ceived applications from ninc-tcnths of
the employees of both Senate and House.
They had hoped for Democratic success
at the polls, and had gone to bed the night
before wondering if their hopes were to
be realized. They We're up before day.
break and read the answer in the stars.
n These told them thav muSt sool otho,