The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-01-07
Henry Clews Regards It as the Key
to Business Improvement,
IMMEDIATE OUTLOOK IS PROMISING.
Tho Passage of tho Railroad Pooling
BIlinud an Amendment TO tho Bond
Issue Law WIN Clarity tho Flnau.
oini Atmosphere : ccomnonds
tho Appointments OF u Currency
Commission.


adious 70 tho old yoar and hav0 done 1t
without rogrot No tears havo been
ahcd in Wall stroot over its departure,
and all arc anxious to forge! It as quick.
ly as possible from a business stand.
point Tho now year has stolen in
quietly and In manner BETTING ono
which, to certain extent, Is m un.
known quantity. Glimmerings Of light
arc boginningto appear here and thoro
bidding ua hope, but the clouds arc stlll
rather low down, and tho principal
basis for hopes Of Frightening in the
outlook 10 tho feeling that We have, I'm.
doubtedly, seon tho worst, and what Is
to como must essentially DO better,
The atmosphere win clarity gradually.
and what Is most needed now Is a
strong breeze from the vicinity Of Wash.
ington to blow away the mists and lot
in the sunlight once moro. Favorable
legislation 10, undoubtedly, tho great
pauacea at present; for whom the ques.
tiona oil tho currency and RAILROAD
pooling" are favorably disposed OF all
business interests will DO ready to take
fresh hold for long pull, q strong
pull and pull altogether.
The immediate outlook in CONNER.
cial and manufacturing circles is as
promislng as could be expected at this
season Of tho year and under existing
circumstances; for, with the exception
OF some sections OF the west aud north.
west, the prospect for 1895 ia decidedly
more favorable, aud indicates business
Of larger proportions than existed In
tho year just passed. No better baron.
eter Of tho trade conditions can be pro-
duced than the iron industry, and this
is in far more satisfactory shape as re-
gards the future than was the case
year ago. The stock OF manufactured
goods Of all classes throughout the coun.
try is at a very low ebb. Consumption
is going on all tho while. and the time
must soon come when fresh stocks will
have to be taken on, and it is no. very
far away either, as is proven by the in.
creased desire on the part OF spinners to
buy raw material. Every small depre-
citation Of value ia being taken advant-
age OF by them to replenish supplies,
and this is certainly gratifying feature
alter the hand-to-mouth policy which
has existed for 80 long a period.
Wall street and the security market
are like great flexible mirror. Under
ordinary circumstances it reflects as
near as possible the exact condition OF
affairs throughout the country. Under
the genial atmosphere Of prosperity and
bulls" sometimes get underneath the
bulge 1t, whereupon it becomes convex
and exaggerates the reflection, i. c, over
Initiation in values. The reverse is the
case at present, and the mirror has rs.
sumed q concave form under .'bear"
pressure. go that the reflection is mar
rowed down 10 size somewhat smaller
than is warranted. During tho mast
few days the "bears" have been forcing
liquidation on the part OF weak holders,
givingto the market a declining tendency
which would naturally indicate situa-
ton which is growing worse all the
time. This, however, is not the case.
On the contrary. there is everything to
hope for and 70 expect.
We have already written at length in
4 preylou, letter regarding the true in.
wardness OF the pooling bill now pend
ing before Congress, and have shown why
itshould become law and why 1t proba-
bly, will. 1t Is now quite likoly that the
senate will take it up soon and that it
will pass that body as it has the house.
This measure, together with the cur.
rency question. should be settled with
out loss Of time. Delays arc dangerous,
as war proven last year in the case OF
the tariff. The revolution at tho polls
last November was unmistakably largely
due to the prolonged tariff agitation in
Congress. 1t should, therefore, be n
warning against currency tinkering in
the present expiring session of tho
same Congress. All that 10 really de-
sirable for the present short session to
do is to pasa the railroad pooling bill
and TO pass bill to amend the
law which authorizes the issue
OF 5 per cent United States bonds by
reducing the rate OF interest to 3 per
cent, and, in consideration Tor making
that low rate, the bonds to DO payable,
both principal and interest, in gold
coin. Ifthis is done it would meet the
present emergency, and would beyond
doubt stop tho. export of gold and the
present drain upon the TREASURY in con-
sequence. Europe would take an un-
limited number OF such bonds and pay q
handsome premium for them, and would
prefer them to our gold. This do not
hesitate to assert. as l know whereof
speak. With this legislation, together
with the appointment OF commission
bv President Cleveland, to DO com prised
OF tho newly elected members OF Com
gress, half Z ,puDl, IS and half Demo.
crafts, to formulate q currency plan to
report to tho next Congress, tho bust
ness situation would materially change
for the better, and confidence and cour.
age would revive aud thereby i'm.
mcnsoly atimulato business enterprise,
now 90 much needed In all sections OF
tho country.
The governor OF New York state, in
his message just issued to tho assembly.
says: 81 congratulate you and the peo-
Pile whom you represent that wo com.
Inenco tho new year under favoring
auspices. The business outlook is much
improved as compared with it's condi.
ton year ngo. The worst OF tho hard
timoa has apparently passed away, and
We may reasonably hopo that during
tho ensuing year wo will be blessed with
fair degree OF prosperity" These are
encouraging words. and without ques.
ton voice tho sentiment OF the masses.
The cry should now be onward and up-