The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-04-06
BANKER CLEws' VIEWS.
The Financial Outlook as Seen From
WnI Street

New York, April 4.-The Unexpectedly
outspoken protest of the republican state
conventions on the silver question has a
most encouraging effect upon confidence
among the investing classes. Instead of
the evasion from party leaders that had
been feared, there has been the plainest
declaration for the maintenance of the
gold standard as against attacks from the
silver faction. This explcitness is all that
could be desired. and 1t strikes the coun-
try as something far better than was hop
ed for. The importance of this attitude
lies in the fact that it shows a great and
vor of the sole gold standard and against
any further commitments to silver. There
can be no backsliding from the
very important respect the country
hndS assurance and safety. This assur-
ance Is immeasurably valuable, and can
not fail to have a most important effect
upon confidence in every ramitcatiOn of
nnance. 1t now seems a fair conclusion
that a sound foundation stone has been
laid in public opinion for the structure of
our future currency system.
This first great step being thus virtu-
tiently and wisely in determining what
shall be the remaining contributions to-
ward the reconstruction of our monetary
system upon a sound, broad, elastic and
permanent basis. The House committee
on currency and banking are working
earnestly and intelligently toward matur-
luB an dCcGpldple measure OF currency re-
form. The various measures before them
are each directed toward methods which
would afford a vast improvement upon
existing arrangements; but the differences
IN detail may prevent an agreement dur
ing the present session, and both in con-
greSs and out there are prejudices ana
misconceptions so stubborn that it may
be the Wisest course to allow a further
period of public discussion for their re-
moVal. Indeed among those best ac-
quainted with the present immature state
of public opinion on the question, the
feeling appears to be that the country
is not yet ripe for a thoroughly regulated
settlement.
Taking a broad outlook on the questions
and the dislocations that have been so
deeply unsettling confidence, we see on
all sides the evidences of steady and
cautious approach towards a remedial
readjustment. There is a more intelligent
comprehension of the situation its causes
and its remedies, among the people at large
than existed but a few months ago. The
country is not unreasonably impatient for
of the questions involved; and so long as
1t is satisfied that progress is being made
on the right line, II would prefer careful
elaboration to a hasty and incomplete re-
however, at which a great revival of con-
fidence is inevitable both at home and
abroad; the principle of the gold basis has
been irrevocably affirmed, and all that re-
mains to be done is the formulation Of
the details as to the minor forms of
money That satisfies Wall street for the
present; and must soon show its results ii
a restoration of financial activities.
The latest returns of railroad earnings
leave no room for question as to the i'm
proving condition of their finances and the
growing activity of general business in the
country at large. The following statement
shows some of the gains of net earnings
of important lines in the month of Feb
ruarV: