The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-01-20
DISAPPEARANCE OF DISTRuS1
In London and Nothing New I'm Our FL
nancini ItsiAtions with Engiand-The
Medication or the Iond oau-No
Doup, of the Success Oftho LOan-our
Resources.
Special Correspondence.
Kesonrces.

ulNLhNAOHt VI Wy Gbll1tlFuCe UtlWteI
Great Britain and Venezuela, will pre-
vent any further disturbances OF pub.
lie confidence. There Is also n dlsnp-
pearancn OF the London dlstrust to-
wards our investments which forced
home such large amounts OF stocks
and bonds Immediately after the Prcsl-
dents message; and. beyond an indls-
position to subscribe for the new bonds,
nothtT s unusual remains in our tinRn-
cial relations with Great Britain.
In the stock exchange the principal
obstacle to business lies In the uncer-
tainty us to the incidental bearings Of
the subscriptions TO the new loan
There has been q considerable con-
traction Of bank leans tS29,009.e0o for
the two weeks ending January l0), in
anticipation OF u probable stringency
In money when the subscriptions to
the bonds have been paid, and also
due TO the fact that n large amount OF
loans mature Mt the end OF this month:
but the preparations already made for
these contingencies are generally re-
garded as largely suiilcing to protect
the market against any important en-
bnTrnssment under these prospective
conditions. The change in the terms
OF payment announced by Secretary
Carllsle-namely, 20 per cent on ac-
ceptRnce OF the bids and 10 per cent on
each Is days thercafter-will material
ly ease the pressure OF the operation
upon the money market The pay
ment will by this means be extended
over four months: and, though II hns
not yet been promised by the secretary.
It seems reasonable to expect that, II
any embarrassing stringency should
arise. a portion OF the payments will be
nj 20 ha In, he,
tory banks" to the credit OF the United
States treasury. Upon the whole, there
fore, the probabilities may be regarded
as against any embarrassing stringen-
cy arising by the loan operations; and
yet, with the cautious tone existing In
all quarters. there Is a disposition TO
postpone operations in the stock cX-
change, until these contingencies are
past. AS 10 prices. however. the feeling
Is one OF confidence. and even the
bears" show little desire to put them
selves short" on the market.
There is every indication that the
subscriptions TO the United States loan
TO be opened February 8 will easily take
up the entire 800 900 bonds offered.
The bond syndicate, realizing this fact,
concluded to step ont, which. to say the
least. is magnanlmous act. The an
nouncement OF the dissolution OF the
syndicate. however, reveals the fact
that the syndicate had received sub
scriptions amounting TO s2O0.0o0,OO0.
which amount was pledged to be paid
into the treasury OF the United States
as required, thus showing the supply OF
gold In this country ready to go into
government bonds Mt n remuner1tive
rate, and which must be surprise not
only Mt home but abroad. After this
exhibition OF gold strength. It will
scarcely be fair for European bankers
and others to continue their predic-
lions that the United States govern
ueat win be unable to mslntaIn gold
payments
The passage OF the increased revenue
bill now in the senate will carry thegov-
eminent out OF the present deficiency
rut. Then II Congress Will pass Sena-
tor Sherman's measure. compelling the
treasury TO retain Hll notes redeemed in
gold until they can be put back into
circulation through an exchange for
gold, II will put the government finan-
ces on n sound basis: assuming. Of
course, that some addition will be made
TO the bank circulation to compensate
for the withdrawal OF the legal tenders
from use. In such IN event. the gold
reserve can drop down below $50, 000. 900
periodically without any shaking Of
| confidence. I consider Senator Sher-
mans proposition one OF the best that
has yet been presented In connection
with reforming the currency, and It
ought to speedily become n law; hut
is necessary. OF course. that the In
creased revenue measure should also
pass, so that the advantages which
both measures give can be derived at
the same time by the government. II
Congress will pass these two acts, IL
| will beyond doubt do away with the
necessity In future for periodical bond
sales 10 provide for the gold reserve.
II our dispute with England Is settled
without bloodshed or dishonor on either
side. which appears 10 me inevitable,
then the fact that we have had such n
scrap and peacefully gotten over Il will
result in more cordial and enduring
friendly relations In the future than eX-
listed before the rupture occurred.
When it is absolutely known TO be set
tied the English people will tumble
over each other to buy our government
| bonds.
England with her colonies would be
more exposed than the United States, In
the event OF hostillties between the two
| nations As an evidence OF the extent
| OF England's colonies, It has been her
boast that the sun never set on her pos
sessions. There is no disgusting the
/ fact THAT both countries are made much
stronger through the existence Of mu-
tual ties OF friendship and good will.
Such relations, however, cannot be en-
| during without the Willingness OF both
| parties TO submit their disputes to 1rhi-
trntion whenever requested by either
| side. Tho greatest advantage in main
| tnnance of the nmIcnblp relations be.
tween England and America Is un-
doubtodly on the side OF England, and
| 40 long az we have such connection
| with her, there II no need for our seek
ing alliance with other nations against
| her
The response TO public opinion by Sec
rotary Carlisle. In making the bond Is
sue competitive with the public. is GER
tntniy crctiitnbic to him, and the fact
| that lie has changed the mode OF pay
rncnt from the originally advertised. no
that the facilities are increased to adj
init OF subscribing for the bonds, Is an
| evidence that the secretary In disposed
10 do all In his power to make the pub
| lie subscription q great SUCCESS. TO
have continued with the original mode
| Of pnymcno would not have fnilcd to
shut out an immense number of sub
scrIptlons which viii now be made by
people OF moderate means. The con-
traction OF S2O,OOO,OOO In loans by tho
| banks within two weeks and an In
crease IN their surplus or N2,bOO,OOO
within that time. which brings II up to
| about $30,0OO.OOO IL change made TO
| provide for the bond Issue TIC stfih-
| gency already produced ana the conHe-
| quent lIluIdntlon II In large measure
| q nj