People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1897-08-12
WHEAT!
The Chief Cornerstone Of Pres.
ent Prosperity, Says
Henry Clews.
A Lecture for Westerners from
aGOldbug Jackass.

/
Henry Clews, the Wall-slreet broker,
says:
The pronounced fluctuations in the
prices Of securities and commodities
denote the condition prevailing in
business circles as the barometer does
that of the weather. The extended
up movement now under way, there
fore, has its meaning, and denotes
forthcoming prosperity in all di-
rectiOnS. TIL conspicuous moves in
Wall street invariably represent what
is Forthcoming; consequently business
people will do well to keep their
weather-eye open on that locality.
This applies alike TO the North, to
the South, to the East, and to the
West. Wall street is just as much
the headquarters for all mOneyed in-
terests in this country as the COM
mander.in-chief's tent on the battle
field is the headquarters for the entire
army. Each country has its financial
head center, the same as America,
and must necessarily, for there is
nothing great accomplished without
competent leaders. Few people are
born to be generals-mOSt are born to
be followers, and they don't make
good ones if they are revolutiOnistS.
1t is just as necessary to have discip-
line in all business interests as in
the army, hence leaders are great
diSciplinarans. Generalship is as
important in business asOI the battle
field, and requires equal natural
ability. People may attack Wall
street as much as they please. Wall
street cares as little about it as a
duck does Of the water thrown upon
its back, because, like the duck, it
represents natural conditions. If
Wall street were not the financial
center it would be located somewhere
else.
Wall street may not have done
much fighting on the battle field,
although it was well represented by
large numbers during the war; but it
did more than any section of any
country, in fact, more than all of
them put together to raise the funds
to feed and clOthe the millions of
men that were on the battlefield
fighting for the salvation of the
nation and the perpetuation of
our present excellent government.
People, therefore, vino dOwncry Wall
street, by their ignorance belittle
themselves. Wall street represents
the great banks of the city, the in
surance companies, the trust cOmpa-
MES, the foreign banking firms, and
the domestic bankers and brokers.
II town or city in Kansas, Ne
braska, Dakota, Georgia, Alabama or
anywhere else in this broad land
wants money they are sure to come to
Wall street for it. and if they are
backed by good credit they get it.
The same applies to the construction
of railroads, water works, gas works,
or any other good enterprise. II
their credit is not good they don't
get it, and those are the kind OF
people who are OutspOken against
Wall street: therefore, the cry against
it from such sources is invariably the
evidence of their bad credit. and doe:
not 10 any way reflect against Wal
street in the estimation Of wideawake
aud sensible people.
As straw indicates the way the
wind blows, so | say the attitude of
Wall street is as strong an indicator
OF the way the sails should be set fol-
the business craft. At present the
current indicates good times. Those
who do not believe that prosperity Is
at hand 10 this country, aud daily in.
creasing, are first class jackasses, and
too stubborn and stupid to recognize
anything but their own dcnkeyness
What has done much toward Great
ing an improvement in sentiment in
affairs in this country is the attitude
of Europe. Heretofore that section OF
the world has wanted more than any
thing else our gold, and taken il from
US at inconvenient periods without
hesitation or stint. Our safety now
is that through their actual necessi-
ties they are compelled TO take our
wheat in such large quantities as II
enable us to keep our gold. This /:
especially desirable, while it is equally
so to send out Of the country as much
wheat as we can at anything like the
present remuneratiye price to produc
ers; hence, while Europe would much
prefer our gold, necessity compels heI
to take our wheat instead. This /,
one OF the most Wholesome features OF
the present situation, adds materially
to the buoyancy in the stock market