The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-05-08
THE MONETARY TRUST.

[ New York Herald.
| No man is more blind than the Briton
I who will not see. After refusing months
I to see. now comes the London Times 10
I saw: American securities at present
I are artificially low as truly as consois
are artifcially high" This utterance is
/ the harbinger OF an outward movement
OF money from London and Europe,
which will mean more to the American
people than any event since the liberia
ton OF the slaves. Let the great Thun-
derer become silent for while concern
ing those empty sensations which have
plunged the British public from one scare
into another, and let 1t republish the for
mer forecasts Of this series; let the Brit
ish publish extricate itself from those
imaginary evils which have so long be-
set the tight little isle both by Land and
by sea, and direct its vision to that point
Of its orbit to which the financial world
has now swung. for the Monterey Trust
points out in this forecast "A pending
revolution in finance which every In
vestor OF Europe and every other In
diyidual who is interested in the evolu-
ton OF the Industrial side Of our civlZa-
ton will do well TO heed Eight years
ego the owners OF the money OF the OLD
World were greedily investing that
money in every portion Of the globe, and
were amazed at the success OF their
manifold undertakings. Two years later
they began TO fear that vaulting conf
dence had o'erreached itself, and. upon
the downfall Of the Barngs. this fact
burst into the realization OF every bourse
OF Europe. Then, simultaneously, the
owners OF that money undertook TO eS
tricate themselves from their infinite
complications, and, alarmed at each
others movements. hurried into blind
and brutal struggle to undo all they had
done and get back their money. In that
stampede they destroyed thousands OF
properties which they themselves owned.
At last they have that money back into
their clutch locked up in their own
vaults. and have no use for 1t. The in
vestors of England, encircled by fears OF
their own creation, have confined them
selves TO the few securities which are
| founded in the narrow limits Of their
| island. until quotations for those secun-
| ties are literally beyond the reach Of
| reason. When men are quivering with
/ fear they cling to the securities which
| grow up among their own homes. As
| sensations are now subsiding, and the
/ shudderings grow more quiet, they are
| cautiously buying American railway
| bonds: but the consols Of this republic
| are United States government bonds, as
| St Paul and Northwest shares are the
! consols Of our wonderful Northwest
/ country These securities will now ad-
vance. even as British cOnsols have ad-
| vanced, and, when the new owners there
| Of realize this they will turn with larger
| courage to other American properties,
until finally the idle money Of Europe
| will again run riot in every department
| Of American enterprise. Thus new
monetary movement is In motion, and
| the financial world is slowly swinging the
/ other way The outward movement Of
money from the vaults Of Europe Is
| daily gathering momentum, and will eN-
/ tend with widening influence until its
/ irresistible outflow has reached all the
! scattered values Of the world when
| the inward flow Of money set in a few
| years ago from remote regions Of enter
| prise into the vaults Of Europe every
/ private fortune was withered, and al
| corporations with interests entangled IN
| the general current were forced TO yield
| Now the benefcent return movement OF
/ money outward again from the grip Of
| European distrust win create an expan-
| sion Of values in every deartment Of
/ human endeavor. The expanding tend
/ ency Of Wall street securities may often
/ hesitate and sometimes rest in moderate
reactions but It will never stop until
| this outward money movement has cul-
| minated.