New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-10
ro,., co .s7.427 osl .soses55 Inc. sc5sa2i S.
THE WEEK IN WALL STREET.

Tho incident Of the week Of supreme interest
n the banking community. and. in fact. in gen
eral business circles was the magnificent reply
Of the country to the call for subscriptions 70 d
new Government loan, and the allotment TO the
successful bidders. As an influence upon the Sc
curjtv markets the effect was pronounced BE
levers IN higher prices are inclined 70 u.'hk
that the market Will enjoy DUH movement OF
r~,,orreI duration. and the course Of values In
IL last few days and for the last TWO weeks
bears out their opinions Sentiment ID an c ~,
cles ~ business has been faVOrably anected by
tho success Of the bond subscriptions Inc I'M
certainties In the situation which checked busl-
ness i'm the last thirty days nave, in a great
r~eaen~a heen removed. Subscriptions 10 800
100000 bonds amounting 10 nearly s6voVV'VJV n
dcate that a large amount OF money mas aIeauy
been Withdrawn from circulation, 50 thal the
dreaded effects upon the money ihaIhe1 "a, I
been reduced 70 a minimum. Moreover, the
many subscribers who viii get none OF the
bands will release their funds into general CIT
eulation which win materially assist IN easing
the financial situation. Doubters abroad ana al
home in the power and strength ana PATRIOTISM
Of the American people nave recclvea an en- M
phatlc reply to their scepticism. Those VINO pc
LcYcG this cOUntry's obligations Wcu!d not De
met III gold have received quietus 70 tnelr
fears and the Rothschilds and other foreign
bankers can now come into the market and
take our coin bonds. interest and principal
OF which will be paid in gold. at premium
above tina, at which they might have secured ,he
eilt-edged securities had they had less fear ana
more courage. Despite the wretched exhiDuoh
being made by the silver advocates and would
be bsnkruptcrs Of their country. the Government
Of the United States will meet its coin obligations
In gold or It's equivalent The people nave
spoken in tones which may well make political
demagogues ard enemies OF sound money see
the dark future which IS opening for them
The end Of their useless careers Is not far u.s.
tant.
The extent and magnitude Of the Subscriptions
70 ;be Government loan. the majority OF the
bids ranging from i09 10 1l2 IS magnificent
answer 10 an Administrator which would not
trust the people. but preferred 10 give profits OF
millions 10 international bankers. The bankers
who took the February, 1895. loan at 1O4 bid over
ITO for the present loan. or, in other words, they
are willing to pay an exact figures GIG per cent
more for this loan than they did for that last
Year. On s62 coo. 900 Of bonds. the amount issued
last February. the syndicate was willing to pay
this year 1881. 900 more than II did last year,
and even at these figures handsome profit VIII
be made. for the bonds for future delivery are
now selling In the open market at ll6kIl17.
Foreign investors have not yet shown an IN
cinatiOn to come into the American security
markets buyers Probably they unwill-
ing to make any ventures so long the Gov
ernment's expenditures exceed receipts. and they
undoubtedly make too much out Of the Idle
vaporings Of the silver majority In the Senate.
AS 10 the last, there Is no cause for uneasness,
Ior these misreprcsenters of popular sentiment
VIII not be able 10 place the country upon
.siiver basis. The question OF revenue, however.
y more to be feared. The present revenue law