San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1895-06-06

the next few weeks. There Is n,
certainty in either direction, ant
the present situation therefore call
for reservation OF judgment as t
the harvest factor in invest ments
Apart from these crop consider
a~tions, the underlying conditions
and tone Of the market remain I'M
changed. There is no abatement
OF confidence in the permanence o.
the revival Of general trade which
set in with the Spring business
The best evidence of the recovery
in the manufacturing industries is
the continuous advance in wages
mostly voluntarily granted by en-
ployers. In most 8 the new
tariff duties seem TO impose no OBJ
stacles to production; in some,
manufacturers find a positive ad-
vantage. The problem now, in
deed, seems to be less how to COM
pete with foreigners in the home
market than how TO Guido them in
the foreign markets, in which the
chances for Americans are becom-
ing more hopeful and are attract
ing increased attention. Among
those In close contact with our in
dustries, the conviction appears to
be gaining ground that We have
entered upon a period OF unusual
growth and prosperity in manu-
featuring enterprise generally, and
that, in some Of the leading sta
plies, we are entering the lists for
an active competition in the
worlds markets.
The improved status Of our in
vestments in Europe shows signs
of further progress. The education
Of investors seems to be passing
from the narrow and pretentions
critics of the press to the better in
formed and more candid bankers
and ~financiers whose judgments
really direct the course of Euro
pean investment. 1t is a telling
comment upon the value OF editor
ial opinion in London that while
Economists and Statists have been
persistently decrying u corporate
investments, bankers have, within
the last three months, placed some
$l30,O00,000 OF our bonds and stocks
in the London and the Continental
markets. This week, an issue of
$1,000 600 of railroad bonds drew
out $4,000, 900 of offers from Lon
don before the securities were OPEN
Iy offered {; and besides that $2,OO0,-
600 Of obligations Of an electrical
corporation were negotiated in the
same market.
Europe seems to no longer at
tach any serious Importance to the
position Of the silver question in
this country. Observers there
seem to have reached the conclu-
sion that u agitation about free
coinage Is but an ephemeral phase
Of popular ignorance, destined to
disappear under the influence Of
the conservative common mi Of
the people at large and their judg-
ment is a safe one. In the South
and the West, a very marked re-
action against national free coin
age has set in under the diffusion
Of information through the various
Sound Money agencies, and the
best Judges of sentiment and poll
tics in those sections agree that
the Silver Kings a make no
further progress in their efforts to
create a government market for
their product. There is a quasi
conservative element among us
who have chung to the hope that a
settlement might be reached
through establishing International
Bimetalism but the hopes of that
class are fading before the growing
evidences Of the improbability of
bringing about such an agreement ;
if not also from growing misgiV-
ings whether such al arrangement
would prove equal to providing for
a present annual world product Of
S200,000,000 OF the metal and pos
sibly Of a yearly increase in ad-
dition England's disposition in the
matter has been shown this week
by the Chancellor Of the EXcheq.
uer's emphatic public declaration
that, under no conditions what
ever, would the British Govern
ment sanction any departure from
the historic gold standard policy
Of the nation. From the opposite
political party came authoritative
warnings to Mr.. Balfour and Lord
! Salisbury that the Conservatives
would oppose any concessions to-
wards bimetalism. This material,
ly lessons the hope of England sup
porting a double standard policy
and, as England goes, 30 Germany