The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-07-01

Special Correspondence ofiht husligenrsr,
NV YoRK. Juno Oval street is
not in n mood to borrow trouble from
the drift OF tho silver agitation. Above
all interests, 1t il most disposed to put
faith in the safety Of tho final common
sense constulious Of the popular juig,
mont, 1t mas too often seen tho coun.
try brought to tho verge OF sooming
catastrophe only to be rescued by the
eleventh hour conservation OF the poo.
Pile, to have any foar that tue craze for
national FREQ coinage will ever DO con
summ0tod, Our paople are not given
to violent revolutions; they dislike
great changes which arc purely theoreii.
cal and 0S%periiuGntalt and although
they rather eaiay the excitement OF an
agitation upon soma great question or
principle, got, when the stage for de-
ulslon arrives, thoy know how to say
Not to tho schGmes Of Mora agiia'ari
and TO tho ebstlors OF tho mere Nherra'
tioua OF i]aCttoUists. II may surely b.
taken ior granted that the great mass OF
our people are fully capable OF uuaer.
standing that FREQ coinage at ~ Ia |
means u sweeping revolution III every
interest, financial, commercial and in
duslrial-a convulAiOn that would leave
behind no stable basis OF prices, noiSed
standard OF money value.
II needs no more common aonse than
our citizens exercise NJ every election TO
discern that such q change would end
in business Reorganization, national
hiscrGdit and widespread RUM an
Wall street roposes confidence in the
final protection otthis safeguard against
an insane money revolution, Nor do
Tho mon OF thu stock exchange take the
politicians az their seeming worst 10
this matter. II belongs to tho willy
tactics Of politics 10 hunor even the
widest Yagaries that crop MP from pop
ular ignorance aud prejudicc. So lar
rs such vagasies may be likely 10 in
ilueuCa votes, their deyotees arc Hat
totei by promises Of representation 10
platforms and legislation in Congress;
and hduco any sort OF folly receives q
OF liberation. But, At the
same time, the leaders who finally con.
troll the DRIFT Of politics have to main
tain mors respect for tho reputation OF
their party than Tor tho humoring OF
monetary vagarlats; ard 1t may be 70.
garded ~ an impnsslhilitY In practical
politics that Il majority Of either party
woull finally perpetratG tho suicide OF
sNnciiouing unlimited coinage OF silver
at 10 TO /, OF any other policy that
would cndRnger tho uormOnenGa OF tho
supremacy OF the gold standard in
the United States. II is confidence in
these general conclusions based on the
working OF our political institutions
that keeps Wall street calm aud un.
apprchenslve in tho midst OF the pro.
Vaiitng excitement on the silver quus'
ton. In a word. its estimate OF tho pro-
ponderant judgment aud conservatism
Of tho American people ia one that e&.
cludes tho possibility OF silyerism eyer
becoming tho law OF tho land. This
conclusion might be loss Trustworthy
were there any possibility Of immediate
final action upon tho question being
taken. But politicians most familiar
with the complexion OF congressional
sentiment on this question agree that
the nGw house OF Representatives
stands two TO II against coinage. And
were the attitude Of Congress less eer-
tain, there still remains tho fact that, 80
long rs MIR. Gioveiund rctatus authority,
no law iayoting silver could escape his
veto; 30 that, until tho assembling of
Congress in the winter OF 1897, there IL
no possibility Of any change being made
in the legal status oil silver. For the
interval, there is opportunity enough
for the common sense OF the nation 10
do its saving work.
Operations on the stock exchange
have been on a limited scale. There
were good reasons for this; due to tho
inevitable waiting for tho new reorgani.
cation schemes which arc shortly eS.
pecIed to be announced. Largo oper-
ators naturally hold aloof until the ma.
turo oil these settlements is better
known. Another reason was the apathy
OF tho London market in spite OF the
fact that foreigners are roady buyers Of
WI lAthl Nlh1b lHhhbts GNlll hlDAlltl NAAhN
OF he,itency is tho inclination 10 dis
criminato more closely In speculative
purchases. a disposition which 10 likely
TO become more marked as tho advance
caHtiRHet. Thus far the market has
not had any severe test 80 that prudent
operators, even when believing Ia bot
ter prices, arc more particular Us TO the
financial condition Of Hr0fersieE az we'll
rs their businosB prospects. The indus
trials tInvG been subject to several bear
attacka but thus far tho railroads have
successfully resisted atf attempts 1T de.
preston; the steady increase Of earn.
inga aud tho improved C0mmrrctat and
crop outlook encouraging any general
selling OF railroad atOcks. Tho hguorat.
ization OF rates checked buying IL Ia
true, but failed to induce any decline of
confidence, showing that confidence in
tho future is undisturbet. fonnsyivn.
MAS last monthly report attracted much
attention for lie satisfactory reauIts. and
from tho wido territory CoYNrnd and
large variety OF products carried was
regarded as uxGollont proof OF business
improvement. IhO break IN tho indus.
trials, which began on Thursday, was
not u very Hrcnt surprise. Those no.
curitics have long been an element Of
wcNknoB IN the situation, and tho dis.
turbance thOrO must naturally have mn
object upon other 4ocurltius. Tho bears
hayO made one 0nGaca,lu stroke aud are
not likOIy to give IN until having dono
their utmost. Stop Orln'g cuniui worry
hnnVv bslIiuV Ihu lCrllnp. h~nWOyp
will In tho ond benefit tho market by
creating Il itosh buying basis and loay.
Ing The situation moro rlnAr oi dOnbtlul
spots. lIGstY CLGwg.