The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-19
IN THE FINANCIAL WORLD.
Henry CIews' Weekly Review or
Money and Securities.


New York, April flowing to the in
terruption of the Good Friday holiday,
the past week has been a broken one in
Wall street affairs. Two non-business
days between now and next week have
caused some postponement of buying OPP
erations and encouraged selling by the
bears" but the stock market has, not
withstanding, shown healthy tone and
a somewhat firmer tendency in prices.
Upon the whole, the investment market
is steadily working towards more settled
and hopeful conditions. So far as respect
factors which affect financial confidence,
the change within the last few months
has been much greater than is generally
understood or credited. Up to last No
vember the most intense anxiety prevailed
as to the outcome of the silver question
in the election The result of the national
vote was to veto free-coinage and pro
vide an interval of four years for the fur
Their exposure OF that danger and for de-
vising means for the final adjustment of
the money question upon sound and
wholesome basis.
This week. the President has appointed
a commission to make proposals to the
European governments with a view TO
reaching a settlement of this disturbing
element through the creation of a system
of international bmetallism. At present,
it would be premature to say what are
the chances for bringing about another
convention, or of such a convention agree
ing upon a plan of international co-opera-
ton; but even should neither be accom-
plished, the effect will be a large contri-
button toward a final disposal of our own
silver question; for the failure would de-
prve the silver party of its most con.
i've nd In oil
telligent bimetallists; and composed Of
free-coinage advocates pure and simple
that faction would stand more than ever
discredited before the country and Te-
prived Of a very essential element of 90
litical support. In this respect, therefore,
the financial situation has within the last
few months. entered upon much more
hopeful phase.
In the broader monetary questionable
reconstruction of our paper money sys-
tem-the drift Is towards a careful and
thorough consideration of the whole prob
lem. The action of the executive and of
congress in this matter may not have been
so prompt or 80 definite as to satisfy the
more jealous rcformers but there Is moth
ing TO suggest any serious misgivings as
to the readiness OF the administration 20
bring this question to the front so soon
as matters deemed more Immediately inn
portant have been disposed Of Whether
the question may be approached through
the appointment Of commission OF ex-
perts, or directly by the independent &C
ton of congress. Is comparatively imma-
terial II the reform Is to be initiated
through "A commission, there must be a
delay Of several months in reaching con-
gressional action. and. even then, con-
gross might be expected TO follow the re-
commentators Of the commission only 70
far aa its proposals might agree with their
existing prccOnceptions. But IN any ease.
tho taking up Of this question for legisia-
don De- probably only q matter OF a few
months. Tho administration and congress
fully comprehend the supreme importance