The herald., 1896-09-08
THE BUSINESS REVIVAL

1t 10 quite amusing to witness the des-
perate efforts made by the Mckinley or
gans to persuade their readers that the
great Improvement in the financial sit
uation Is due to the alleged prospects
of Republican success. OF course such
claims are the merest moonshine, and
show how hardly pressed our opponents
are for something with which to encour-
age their deluded and demoralised
forces. The fact is that business con-
ditions have changed most decidedly for
the better in spite of them. Immediately
after Mr. Bryans nomination every gold
bug organ struck UP a most dolorous
air. The Lamentations of jeremiah
were comicsopera compared with what
we were promised in the event of Demo-
cratic success. Reputation, panics,
distress. want and anarchy were the
colors used in painting our future, and
they were laid on with a liberal hand.
Now. these same organs want the peo-
pie to believe that such promises of
trouble have given the present healthy
tone to the markets, encouraged the
influx Of foreign capital, evidenced by
the gold shipments almost daily report
ed. and quieted the feelings Of appre-
hension which they had themselves oc-
casioned. Such preposterous PROPOSE
tions will hardly be seriously consid-
cred. If they were candid they would
admit that the healthy change is large
ly due to the fact that as the people
meet, see and hear Mr.. Bryan, and un-
derstand the principles which he advo-
Gates, they become convinced that the
success of those principles should in
spire hope instead Of fear; would be
promise and not menace.
There is one great satisfaction, how
ever. No matter what explanation is
given for it, the fact remains beyond
dispute that remarkable and most
welcome change for the better has taken
place. Two months ago he would have
been regarded as sanguine. to say the
least, who would have foretold the i'm
provement which we have seen within
the past few weeks. The political ca
lamity shriekers made an opportunity
early in the campaign for bear assault
in the stock markets. The opportunity
was not lost, nor was the assault unsuc-
cessful. Prices dropped, and the drop
was the signal for new chorus recit-
cratic victory. But there has been time
for sober second thought; markets have
rallied and financial journals support
ing Mckinley are forced to admit
the change for the better. We have be-
fore US a publication Of this class is
sued August 29th, and quote some Of
its comments on the situation:
New York cannot be considered very
badly off when no clearing house GER
tificates have been issued and none are
needed. The gold ordered from London
and Paris, which is now beginning to
arrive, will relieve the strain materi-
ally. So far as can be ascertained the
amount ordered this week foots up
| $40, 900, 000"
1.-THE financial situation in Chicago
marked degree. Indeed, it may be said
with assurance that all the principal
dangers that have confronted the COM
munity since the Sd Of August are now
out of the way.
1.-THE situation Is so vividly In contrast
with that of one, two or three weeks
ago, that everybody is justified in
feeling of the highest satisfaction"
1--WE are shipping a good deal Of pro-
| duce. So long as we can turn grain and
| provisions into gold, reducing the obli
cations at the bank and at the same
time increasing the stock of specie, we
are working out rapidly in the direc-
tion of better financial conditions, and
that seems to be exactly what we are
now doing"
The foregoing are only samples which
| indicate Enthusiastically the trend Of af-
fairs. During the remainder of the cam
paign we will probably hear very much
less about the disturbance to business
caused by the discussion of the none
tary question.