The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-01-28

Wall street romans dull In the
investing department, tho trans.
actions fall considerably below what Ia
usual ut this aaaion, though prices for
frat clasa mortgages yielding about 4
per cont, arc quite steady. Speculative
tranactions are almost entirely continued
10 room" operators, aud all efforts TO
stimulate buying aro spasmo dic and
fall fiat. At the moment, tho "bcara"
-aeom to have tho app0r hand, perhaps
mainly because holders choose to give
them hopo in ordos To ontangle them In
a squeeze. Tho strong feature Of the
market lies in tho fact that there arc 40
few weak holders, and that tho owners
oil stock regard securities as intrinslcal.
ly cheap at current quotations aud
therefore will no. sell, except at an ad-
vance upon present prices.
Tho market 10 in mood to seek an
occasion for poatponoment OF opera.
tons, aud 1t finds one ready to hand In
tho treasury situation, tho currency
question and the hardness OF Congress
In doing something towards settling
these Issues. 1t Is generally conceded
that in the way OF legislation on tho
currency question nothing is likely to
DO done At present, nor indeed can DO
properly dono within the brief time ro-
naming for tho present Congress. The
feelingin favor OF the appointment OF
national commission on tho question is
quite general, aud tho recommendation
to that effect by the chamber OF COM
merce is likely to strengthen that sen.
tlment, With respect to providing
authority for borrowing to strengthen
the treasury. the feeling Is ono OF grow.
ing impotence. expressed in strong de.
nunciation OF the neglect OF Congress.
This postponement is the moro mex
cusable because the inevitable necessity
for the thing being done leaves 40 little
room for delay arising from differences
OF opinion. The uneasiness on this nc.
count ia increased by the suspicion that
the inaction OF Congress Is due to fears
that action in this matter may bring up
again the eternal silver question, with
all Its disturbing influences. The cues.
tion OF the kind Of money in which the
treasury bonds shall be made payable
applies tho match to great deal OF OK.
plosiye congressional matter. and tho
Washington leaders hesitate Us to what
is the beat way OF getting around that
difficulty, the more SO as the sllverites
arc evidently awaiting the occasion for
wrestling from tho sound money men
some sort OF concession to silver.
IA usual. Senator Sherman steps to
tho front asa ready compromiser, and,
Instead Of strengthening public con.
fidence BY proposing that bonds shall
be payable In gold. introduces bill
providing Tor an issue OF 8 per cents
payable "ln CON-" which means silver
as well as gold. The senator insists that
as the word coin has always been used
in government bonds, it should con-
tinue to be. In taking this stand, no
seems to lose sight OF the fact that when
that word was originally inserted in the
bonds, silver (Which is as much coin rs
gold) was at o premium over gold, and
when the present bond act was passed
which is now tho only authority for
the issue Of bonds--sllver money was
not in circulation in this country. SEN
ator Sherman must know that since
that time silver has deprecated from
premium over gold to les. than Coo on
the dollar, hence the word coin has not
now the ring that II once had. Seuator
Sherman would make a good "hca.hon
Chinese" II in China, because In that
country they still continue to use the
old-tashioned war weapons which thov
commenced with, and do not oven now
deem it necessary to change them to
meet the conditions called for by mod
ern warfare. 1t is for that reason tho
little Japs have driven them to the wall
Tho United States treasury, | fear,
will BIO equally as badly crippled ms the
Chinese are at tho present time, il Son.
ator Sherman and Congress do not in.
fuse tho word gold into our bonds,
which modernized conditions call for
with first.class nations. The nation
that keeps abreast of the times, whelh.
or in its money or weapons, will con.
quer In the end. Fcudalism has passed
forever. Tho enlightenment OF this
generation is not likely to give way to
another dark age. II Senator Sherman
will allow his mind to wander back
over the past forty years, he will real.
ize that tho progress in everything con.
nected with tho human race has been
greater than for all previous timc, which
calls for revolutionary changes In meth.
DDS. This country, therefore, must
recognize gold rs does England, France,
Germany. Austria and Russia, as the
money standard, and should put the
word gold in future bond contracts by
legislative enactment. This country
will then DO on secure basis for tho
people oil al other nationsto deal with
us.
There is very clear evidence of pro.
gross in public comprehension OF tho
nature OF our financial difficulties. Itis
seen that the bank currency question
ia only indirectly connected with the
treasury question:; and that the treas
ury question has two distinct branches.
one relating to deficiencies Of revenue
and the other to tho retention OF roId
In tho treasury, each OF which REQUIRES
distinct methods OF adjustment. The
gold reserve Is the most acute diseaso
and will porhaps provo tho latest. to
yold 10 treatment. 1t canno. be finally
remodied until tho banks feel atN!ibcrly
to resume their formor methods OF pay.
ing ont gold, and thoro aro reasons to
hope TINT some means may DO ultimate.
ly devised by which tho obstacles at
this point can DO overcome. Light is
dawning; and the way out OF our ON.
barrassmcnts Is becoming daily moro
Visiple. Henry CLEws.
Tho Wool Trade.
Brddsreer&
Tho pas: week has shown moro actiy.