The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-20
Financial Chronicle.

FINANCIAL chronicle, $500
NEW YORK, July 1S,-An existing
Nnuertone OF ,lmIdity on the part Of In.
rGstors and dealers taken advantage Of
Tor bear raid developed for time
more uneasy feeling In Wall street
this week. We were surprised Inst
week that tho action taken at Chicago
had not at onco had a depressing In
ttucnce Mt the Stock Exchange, for ev-
crSthIng was put Into the platform MS
adopted that could tend to unsettle con-
iidcncc. Tho convention in lts results
seemed to have had az It's aim govern.
inent dlscredit, currency weakness and
Wall street depression even more than
the election; and It was through that
d!scrcd!t and weakness that the ner-
vousncss on the present occasion de-
velopcd. An easier market and lower
prices for government bonds, higher
foreign exchange. Withdrawals OF gold
for export. and reports promising much
larger gold shipments at the close OF
the week, were NIL Incidents IN the stu
alton on Monday and subsequent days.
To these Influences was added on Tues
day the sudden sickness OF Mr.. Cor.
nelius Vanderbilt and tho consequent
free selling OF American securities IN
London. What better conditions than
these could be had or devised for raid
ing the stock market? 4 movement OF
that nature was made on Wednesday,
the more conspicuous feature OF Wh!ch
was the selling Of hlRh-prlced stocks In
which Mr.. Vanderbilt was Interested.
sales of these properties being pressed
with apparent eagerness. As they are
all Inactive. small lots in the absence OF
buyers were enough to depresS their
prices several points.
so long MS no one can say that there
Is not a possibility OF the success OF
this Chicago movement the bears have
within their call the power to excite
the fear OF the street. the average SEN
sttiveness OF which the current year Is
high. This power. too, will We presume
remain ms long as the lungs OF the free
slrer-Popullst!c party continue to be
unimpaired: for while they can make
as much noise IA now they will appear
10 be numerous, and appearing to be
numerous liz Just AZ strong a specula-
tive argument as IL they really outnum-
bered the game men two to one. At the
same time there Is no evidence at all
that half the voters In any important
state belong to that party. hut there Ia
abundant evidence-if those whose
judgment has been heretofore relied up
on can be taken now--that the states
referred TO are AZ certain to vote for
Mckinley as any future event can be.
One remark OF Ex-Governor Flower Is
deserving OF wide circulation. He was
tFrht In IAaE,
state organization would do. His reply
was: II do not know. The organiza-
ton may desire to indorse the Chicago
ticket so rs 10 be regular. 1t seems to
me, though, that man who Is for sound
money and who votes as his conscience
dictates, has as good regularity az an
organization can give him. | believe
that so per cent OF the Democrats OF
this state do not want to support any
ticket that does not represent sound
money" We would add TO the forego-
Ing that II any eastern city or state
should be as matter OF form and party
discipline support the Chicago ticket,
such allegiance would be most unfor-
tunate. 1t would be so chiefly because
1t would tend to lessen the overwhclm-
Ing character OF the defeat these foes
of all government should receive. But
1t would also be unfortunate for the
organization: action OF that kind could
not but talnt the party for at least
quarter Of a century. This Chicago
movement strikes at the very existence
OF the government. AS Governor Flower
says, It Is no longer a matter Of politics.
1t has even got beyond being matter
OF business. The credit and therefore
the honor OF the country is Mt stake
Law and the authority to enforce law
and put down riots arc Mt stake.