Arizona republican., 1897-09-11

Bringing nor sorrow nor care
 To the country lad who never again Has known the joys there.
 No more, alasl will those Simple soothe tired heart and brain;
 In their place have come the world s
 blase joys,
 And ever it's sham and pain.
 Isaac Notes. OUR COMMERCIAL CONDITIONS. How They Are Regarded in London
 Some Entertaining Gossip
 New York, Sept 1O.-The Tribune prints the following special from London regarding English views of american commercial conditions:
 me expected advance in the bank rate mas npt taken place this week. oue can hafdly be deferred nore than IortnagaF The withdrawal of gold 1or hussla7 and Egypt has not sufic-
 Ely premature increase in
 Ie, and it is on chances of
 soid shipments to the United
 1nat the course of the money
 vket really depends. With inc
 
 1T at high prices, it is probable that Ehe rate will be raised to 3 per rent at one bound before the end of Sen temDer as reasonable safeg11ard Most conservative bankers dealing in Amer1can stocks do not expect large shipments or tgold from England to America this year. but assume that wheat and cotton will be paid for in American securities.
 american stocks and bonds have risen here by leaps and bounds in Sympathy with the upward movement n New York but those in full nos session of the secrets of the street Essert that thSnpis no buying for English investir 1t. Every advance brings English holders of American securities int9 the market, and such as Aare/made are for New York accounts< Hence these exprsfs as sume that the balance of trade, so far as England is concerned, will be largely iquidated by the return of American stocks rather than by the export Of gold from the continent However, there must be heavy ship ments of gold before the wear ends American stocks are not held in France to any large extent. nor is there the same disposition to sell them there
 France, from the failure of her own wood crops, will be forced to import considerable portion or her supply rom America, and to Day for 1t in gold Germany will DC in a better position So far as her home supplies are concerned, and will not be like iy to send either gold or bonds to America Russia will have an un- knoWn quantity of wheat for conti- mental requirements, and will inf1u- ence the course of the money market only if the government persists in tthe mysterious policy of augmenting 2the stock of gold, which is apparently aIready greater than the number of Rctes in circulation, SO that the adon Ion Of the single standard Is prac- ucabie in St. Petersburg at any time. The reason assigned by financial ex- perts here for the continued disposi- ton Of English investors to sell American securities is lack of con- hdence in the currency system of the United States. The signs of improve ment in business conditions and rail way fr~fc do not escape observation, and the resentment caused by MT. Cleveland's Venezuelan message has passed away, but as quotations for American securities advance English Investors take advantage of the high CT prices and sell their holdings. There is deep con nviction here that Bryanism is not dead, and that American finances will be thrown in to hopeless confusion by the revival of the silver movement and the cleo tion of a democratic president three years hence. What is needed in or ear>to reassure English investors and bring them into the market aSh buy CTS, rather than sellers, is some prAc- tical, systematic effort for currency reform. Until this problem of cur rency reform is seriously undertaken the prestige of the American credit abroad will remain clouded, because whatever advantages is derived this year and next from the plentiful wheat crop, when there Is a scarcity in Europe, Australia and India, the neglect to provide adequate safe guards for the maintenance of the resumption policy create7 suspicion among European investors and bank CTS that serious embarrassments will ultimately follow the short period of prosperity
 The sharp decline in silver which is attributed by English financiers to I the continued sales of the white metal in America by the bonanza kings in despair Of the improvo.lent of the market, puts an end for the present to the discussion of bimetallism Sen ltor Wolcott has gone to Carlsbad nd intends to resume work in Vienna nd Berlin before long, but it is not robable that any progress can be ade until the British government re- rn a definite answer in October to proposals of the United States and
 lnce.