The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-03-18
HOODS
Sarsaparilla
BANKER CLEws VIEWS.
The Financial Outlook as Seen From
wall Street.

The Financial Outlook as Seen From
Wall Street.
New York. March lin Wall street
there are beginnings Of stirring among
the dry bones. The new conditions in
troduced by the syndicate operation and
the relief afforded by the close Of congress
have awakened fresh interest. and the
general aspect of the market is indicative
of new life.
Wall street keeps a quick eye upon the
prospects of the suggested International
silver conference. 1t sees in the adoption
Of a worldwide policy Of bimetallism the
certainty CT a material increase in the
metallic money of the commercial nations.
and assumes that. in such case, there
would be a general rise In values and a
consequent speculative boom of wide d-
mansions. At present there is no real
certainty about the calling of such con-
ference, but the probabilities seem to pre-
ponderate largely in its favor. At such
gathering, one of the gravest points of
discussion must be the adoption of a re-
duced valuation of silver What ratio
between the two metals would satisfy the
conservative European nations il is not
worth while to speculate upon: but no
doubt they would insist upon a material
departure from the present standard of
lolz to l. AT this point it becomes a matter
Of much regret that, of the delegates
Professionally selected By congress to rep
resent this country in such a gathering,
so large a proportion are strongly com
mitted to the ratio Of Is to l.
1t needs some explanation why the
silver leaders of the mining states so per
sistently insist upon free coinage at the
r. to 1
than indifferent about International ac-
ton; and yet unquestionably the inter
national basis would afford much more
promise Of stability than would isolated
national action. This must be clear to any
man not blind from prejudice: indeed il
is so clear that a large proportion of
the friends of silver would probably re-
ject free coinage upon any basis short
Of an international compact. Why, in
the face of these facts. do the mining
leaders insist upon national rather than
International action? There principal rea-
son Is that they are well aware that Euro
pean cooperation would be impossible
without the adoption of a revaluation of
silver more or less approximating the re-
duced market value of silver bullion
That say the miners. would make i'm
possible the complete recovery in the price
Of silver; which is the supreme object
they, as producers. have in view. They
are concerned solely with the value of
their output and copsidera tons affecting
the quality of money, which may appear
important to many of their followers.
have nothing to do with the solely in
dustrial purpose which controls the min
ing interest They consequently insist
upon a settlement that would enable them
TO get a dollar for 371.25 grains of silver.
while other nations might insist upon
valung the metal at possibly $50 to 800
grains to the dollar. Here comes out the
utter selfshness of the silver miners in
opposing International free coinage. 1t is
the old story of blind selfshness-sacri-
ficing good bargain by demanding a
one-sided contract