The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-03-12
WALLSTREET
IS SATISFIED
Presidents Message Greeted
With General Approval.
A STATESMANLY UTTERANCE
Sound on Money and Conserya-
tive on the Tariff.
HENRY cLEwS' NEW YORK LETTER
Adoption OF Gold Standard BY Japan
Attracts Much Attention 10
Financial Circles.
sn...lnl 10 the Astmaan.


New York. March s. 1897.
Wall street waited with great interest
for the Presidents message. and has
reserved operations In anticipation OF
It. Its contents were greeted with
general satisfaction. not to say enthu-
slasm. The document waz regarded
Rs. In all respects. a moderate, con
seryaiivc and statesmanlike uttsrance.
we'll calculated 10 bespeak public conf
dcnce. Its statements relating TO for
eign policy were especially assuring
The presidents reference TO the arbi-
tration treaty implies that II receives
his cordial sympathy. from which II is
inferabie that II will equally have the
support Of the new secretary of state
while no specihc reference Is made
10 Cuba. yet the president 40 strongly
endorses our historic policy of inter
national peace as TO AFFORD hope TO
those who have feared the possibility
Of hasty and threatening measures to-
ward spain. on the money question. the
message ls in general terms. and yet
unmistakibly, supports the sound money
sentiment ~ the county As might
be expected from the platform Of his
party. the president favors NJ thorough
canvass of the sentiment OF the Euro
pean countries relating 20 International
l..s s.tt al.
for that purpose fail to be neid, Il viii
evidently be no fault OF the new admin
istration. with reference to the paper
money branch OF currency reform. the
message IL not explicit. bu, can hardly
be construed otherwise than as favor
ing a course OF treatment IN harmony
with the conservative views OF repre-
scntGtivea OF the commercial and hnan-
communities. On the tarin question
MIR. Mckinley favors the procurement
Of all the additional revenue needed
from duties on imports, Taken as a
whole. the message Is u valuable con-
tribution towards strengthening the re-
vival ~ c,iHdence that has everywhere
set in. IL tends 20 allay distrust at the
few remaining phases where II still
fingers and TO afford assurance that
at those points OF our public situation
where remedial treatment is most need
ed. such action will not be neglected.
but undertaken with well-considere !
steps and In n conservative spirit, one
OF the most assuring features OF the
presidents utterances Is the entire alb
sence Of any thing that could be con-
sldered as doing something for silver. .
otherwise than through international
action. II Is conceived In buslnes
spirit, and II aims at remedy at the
points where business opinion Is mos,
anxious TO see readjustment undertak.
en-. while Il contains no utterance cal
culated 10 disturb confidence. II will
excite no sensations, and Il raises NJ
new Issues; but as a calm and serious
realization OF the important practical
work that urgently needs 10 be done
II will constitute strong contribution
towards the recovery OF confidence nj
home and abroad,
Wall street stil purpues the ever
tenor Of Its way with equanimity, dis
counting the future In conseryativ,
spirit, conhding in the comparative
safety Of the situation as Il now stand.
and maintaining a generally hopeful at
titude. During the week. however. tn,
stock market has been put to rather
sharp test by the course of polltica
AFFAIRS In Europe. Some disquletinl
factors have appeared In the Greco
Turkish imbrogllo. While the power.
appear TO have reached unanlmou.
understanding. yet there are doubts a.
70 the entire cordlality or their agree
mont; and. from causes beyond their
control, the situation Is so constantly
changing that a basis of cooperation
which may answer for today may b.
useless for the conditions of tomorrow
Moreover, II becomes more and NOR,
doubtful whether the Greeks can b,
sufficiently restrained 10 prevent then
from resorting to excesses that nigh
have the dangerous effect OF break
ing up the concert OF the powers--th
most alarming contingency that coui,
possibly happen. Added 10 the increas
ing dangers arising from the Easter
situation comes the new aspect of Eng
lands relations with the Transvaa
and the possibility that It may lead {
complications between England an
Germany--possibly throwing a disturb
Ing element into the relations betweci
the powers in respect to the Greco
Turkish troubles. London appears I
be taking these particular posslbilitie
seriously, with the consequence Of larg