The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-25
RANKER cLEws. VIEWS.
The Financial Outlook a seen From
Wall street.

New York. May Avail street cout.n-
ues 90 lack any fixed basis of confidence
Tor transient operations Material co1ll-
tons are satisfactory; such as ihe pros
poets OF the crops. the earnings OF ghe
railroads. and the movement iu tle larger
departments of merchandise; AND tile eN-
ports or gold are viewed as put natural
movement. Virtually the sole obstacle Boo
the way Of an active and rlS-us market
is the condition Of politics IAlt element
or suspense IS. however, STRONG enough
20 obs truct operations, ana % exposes tne
market 10 attacks under which prices
easily yield. II is a factor which no.
body ventures TO resist, and It's natural
effect Is 10 induce realizing among small
holders and a steady fall N pf.ccSi while
the larger and stronger nolQcrs generally
hold on 10 their stocks.
The danger from the popular prejudice
and ignorance in connection with this sill
yer agitation is, however. something more
than a conceivable evil possibility IL Is
a threatened actually. II Is up for imme-
date decision; and, at this moment no
one can feel absolutely certain that this
worst curse Of nation may not Doe
brought 10 a conclusion within compar-
atlVely few months.
Wall street is not in any degree insensi-
BILE TO this crisis. 1t sees and measures
it in all its length and breadth; but 10 Is
calm and self-pOssessed. IL refuses to be-
live that when the struggle comes TO
fnality, the American people viii Dee found
capable of deliberate act Of national
suicide. Ii can understand that the dan
ger may reach an acuter stage than 1T now
presents; IL Is quite prepared for the pos
sibility that managing politicians may go
further than they have yet dared in the
way OF sacrificing sound money policy I'm
| order 10 secure votes for their candidates;
III is aware that startling results may come
out Of either of the party conventions: IL
would hardly be surprised should the sill
verites be able to block sound money leg
| islauon in the next congress; all these
| things may be classed amons the posi-
| bllties of the next few months. But Wall
street Is not gravcly dismayod at this out
look. Ii has learned to believe that there
are greater potencies than party plat
| forms than legislative subscrviency to
popular ignorance, than the madness Of
a partisan infatuatiOn. They know that
there are situations and events which can
instantly cOerce and convert the most
reckless legislators into the willing ser
wants of conservative sentiment that
| represents the real Interests and safety
of the nation. II will not bee necessary
to wait for any after-effects OF silver leg
| islation to remedy its mischiefs, although
that would be a perfectly safe course. The
coinage-a counting Of heads showing a
certainty Of two-thirds vote
for a the i5 to House ~ S9d s sToi5s
! in Wall street the kind of conditions that
no congress has ever vet dared TO disre-
| gard, and the cause Of free coinage would
| be oVerthrOWn at the moment when it's
success seemed most certain. II Us this
reserved power on which Wall street Is
| now reposlng. 1t is therefore not likely
| TO be seriously surprised by any outcomes
| between now and the November elections
| It's confidence in the final safety of our
money system is mistaken. Tt can as lit
| tie believe that the nation would finally
| consent TO the destruction OF It's money
| system cas- that it would burn up its crops
| or despOl its accumulated wealth. 10 is
| not at all impossible, however, that wall
| street may witness some exciting scenes
| between now and next November. Poll
| ucians are not usually averse TO "a turn
/ in stocks and great political excite
ments may be easily turned TO speculat-
! i've account. II therefore by no means
! follows that the prediction months must
| be without speculative interest.