The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-07

How British Editors View the Bids
for Bonds.

How British Editors View the Bids
for Bonds.
LONDON, Feb THE financial article in
the Times this morning, speaking of the
bids for the United States loan, says: Al
lowing for all deductions through dupli-
cate tenders, ETC., theN result must be as
satisfactory to the United States govern
ment such loan could be. Probably
the gold held in readiness will not only sup
ply the first installment, but will furnish a
portion of the second installment If 1t can
be retained for that purpose 1t is quite
plain that the American people, including
all the leading mon and business and finan-
cial Institutions, are not afraid that Con-
gress will pass measures yet committing
the country to the silver standard. STILL
we cannot regard the loan as anything but
a temporary palliative. The second install
ment may be forthcoming, but il is diff
cult to see how the three succeeding in
stallments can be met in gold unless
European confidence revives to such an ex-
tent that American securities will again
be bought freely in Europe. Undoubtedly
the present remarkable display OF confl-
dence.b by the American people Will help IN In
that direction, but the careful investor VIII
continue TO feel misgivings until the pres
ent monetary system is reformed.
The Times also has an editorial on the
loan, in which 1t heartily congratulates
President Cleveland and the people. The
success of the loan" the Times says, lis
personal triumph for the President, and is
the most convincing counter demonstration
TO the silverites agitation that could possi-
bly, be supplied. Bur IL Is too early to as
sumo that the silveiites are crushed. Our
correspondent in America seems to think
that the difficulty has been largely dis
posed of, but the point is not easy TO de-
termine in the first glow of exultation over
the unquestionable financial success. The
impression here is that after a little time
the chronic difficulties Of the situation Will
be found TO remain pretty much un-
changed"
The article concludes with further ref
ment Is visible on the Venezuelan affair.
The Standard says IN an editorial: Grant
ing its expediency, the loan is a great sue
cess. Its most satisfactory feature is the
silver standard will De adopted From this
point of view 1T is comforting to foreign
investors in American securities"
The Westminster Gazette says the action
Of President Cleveland in deciding on a
popular loan was fully justified and cannot
fail to have a fa .orable influence, not only
in the United States, but abroad.
The 81. James Gazette says that the SUI
cess of the loan is a useful reminder to
England that, in spite of financial disorders
tion,'' the United States is very rich coun-
try and has "a great reserve store of
wealth among its people," The st. James
Gazette adds: The success is not wholly
hopeful of the prospects of peacefully solv-
ing the Venezuelan difficulty and is only
too likely to add to the aggressive self
confidence which caused the President s
message and the new Olney doctrine to be
hailed with much enthusiasm. We have
no desire 10 be pessimistic, but We search
vainly for any Indication in the United
States. of a disposition to concede any
thing"