The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-01-13
FINANCIAL REVIEW
Henry clews's Weekly Letter on
the Business Outlook.
BUSINESS ATisToCK EXCHANGE
Dali owing TO the Existing oireum-
stances Effect or the New Loan-Fssl-
ing that the Government will Dispose or
the iionds-Whethsr the Syndicate or
the People Takes Them Dossn't Mater.
The Venezuelan Question.
Special Correspondence

Special Correspondence
NEW YORK. Jan. H. Naturally, un-
der existing circumstances. business ut
the stock exchange has been dull, in
both the investment and speculative In
tercsts.There has been u distinct abate-
meHt OF the excitement over the Yene-
zuelan question. Throughout the coun-
try. the military furore has ahnted.-
and on all sides there Is a disposition to
encourage pacific methods OF dealing
with the question. Indeed, II may be
snid to be a foregonc conclusion that
the governments and the people OF both
countries win cultivate an attitude cal
culated to bring about an arbitration
fair In It's terms and adapted to insure
an early settlement OF all points in dis
pute. The effect Of the change Is to
suspend the return OF securities from
abroad. and to remove the question OF
war from the arena OF speculation.
The governments choice OF ''popu-
lar" subscription to the 100 millions
loan, instead OF placing the negotiation
In the hands OF syndicate, has for tho
moment checked n recovering tendency
in prices which was beginning to APP
pear Wall street, however, has very
generally come to the conclusion that,
should the popular subscriptions prove
to be insufficient In amount. nothing Is
likely to prevent the bank syndicate
from finally taking up the balance OF
the bonds not covered by the popular
subscriptions. There is thus no dis
trust about the treasury getting Its 100
millions Of gold within month; which
after all is the main thing needed; and
that certainty should suffice to help
confidence during the interval OF wait
Ing. In the meantime. the stock mar
ket Is sustained by the extremely low
level OF prices, which on the one hand
prevents selling, and on the other, suR-
gests probability OF IN advance when
the treasury troubles have been provld-
ed against for another year. The re-
newnl OF exports OF gold has been chief
ly due to the delay attendant on the
popular loan; but the symptoms OF the
moment suggest probability that the
shipments may not run to any serious
aggregate.
As a means OF finally removing dan
gerous contingencies from the venezu-
elan question. the United States and
Great Britain should agree to arbitrate
all matters In dispute now and hereaf-
ter through dislnterested parties. or
through commissions appointed by each
government. As the people OF these
two great nations are Enthusiastically In
favor OF this equitable and just way OF
settling their disputes, why should not
both governments agree TO such meth
cd Of maintaining the peace, good will
and prosperity OF the EnglIAh speak
ing race in both hemispheres? Let II
be once understood by a mutual agree
ment between the United States and
England that such will be their lasting
policy. then no serious breach, such Us
the one now menacinR both countries,
can ever occur. on the very day that
our Venezuelan commission was voted
for by Congress, proposed that Great
Britain appoint n similar commission,
and that the two bodies come together
ant arrargA settlement OF the dlfll-
Guilty. subject TO the ratification OF the
premier OF England and the President
OF the United States. Why should not
this now be q way out OF the VeneZu-
ella and British Guiana middle? The
chamber OF commerce OF this city has
already endorsed my proposition. Many
OF the English papaers have also ap.
proved OF II. All that Is necessary, to
bring II to q conclusion Is deep senti-
ment on the part OF the people on both
sides OF the Atlantic.
The free silver members OF the finance
committee have evidently been In n
Rip van Wrinkle sleep ana aWoke Just
In time TO vote for the free silver meas
ure, for which there Is no demand else
where. The long trance OF these gem
tlemen has left them IN Ignorance as TO
the change of sentiment that has come
over the spirit OF the people Of this
country In connection with silver In
the last several months, They could
not know that It has become a dead
issue beyond the power OF resurrection.
hence their affirmative vote for free
silver They have not realized that the
last twelve months has been n pretty
lively period, and justified people with
anything at stake to remain wide
awake for self-preservatlon. This
country Is now permanently on gold
basis, and on that account ranks
amongst first class nations OF the world
in point OF credit, and II Is there 10 stay,
and our own product OF gold alone justi-
FEES 1t. We will. however. have use for
all the silver that we can't find mar
ket for az remunerntive prices for the
arts in this country and for subsidiary
coinage. The white metal, therefore,
will never cease to be one OF our paying
products Even at the present price, II
Is a more profitable crop than wheat,
corn or oats. and mine owners OF silver.
by contrast, have no ground OF COM
plant. HENRY CLEWS.