The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-06
views of Henry CIews.

Concerning the financial and business
situation and prospects, Banker Clews, of
New York, says: "As the opening of Con-
gress nears it becomes more evident that
we are likely to have a businesslike ses-
sion, with the sensational dictionaries held
liz restraint and with a preponderating re-
gard for policies and measures calculated
to encourage confidence among the business
interests. Among the things which now are
considered as assured are theysupport of the
Presidents pacific policy on the Cuban
question; a fair chance for the adoption of
a good bankruptcy law; an earnest attempt
to effect some real improvements in the
condition of the currency, though possibly
not all that some may desire, and an effort
to afford some equitable adjustment of the
railroad questions. The marked public neg
lect of the silver agitation also warrants
the hope that that issue will influence con-
gresssional action less than has been gener-
ally feared. The feeling in Washington
among the arriving congressman is very
confident as to the abatement of the agita-
tons raised by the Bryan campaign of last
year and the increasing desire of legislators
TO deal with the pending large questions in
a moderate and conciliatory spirit, and l
venture to predict that this disposition will
gain ground the session advances.
These symptoms, coming to the surface
at this moment, have an important bearing
upon the tone of the financial markets, and
have directly contributed to the revival of
buying which has been apparent on the
Stock Exchange during the past week. Or
dinarily, December opens with postpone
ment of buying operations, owing to the
Winding-up of accounts and liquidationS in
cident to the close of the year. Now, how
ever, the situation appears to be regarded
as warranting departure from that usage,
and operators deem it safe to promote an
advance preliminary to the rise of prices
that usually results from the large divi-
ne interest disbursements made a II
the opening of the year. The result of this
buying-a rise of one and a half to three
pointS-in some measure sets at rest the
fear entertained in some quarters that the
very large amount of stocks marketed in
September and October by large holders
would prove load very difficult to move in
any attempted 'bulf movement. The pur-
chaseS have been double those of preceding
weeks, and the rise in, quotations proves
that the demand exceeds the supply, and
no haste is shown to realize the already
good profits. One of the inspiring aspects
of the market is the appearance of large
operators who have been cautiously stand
ing aloof since their realizings of two
months ago. They appear to realize that,
with so many assuring factors in sight
such as the hopeful prospects of congress
sional action, the coming great abundance
of money at this center, the promise of
booming spring trade and the probability of
Congress making at least a hopeful begin
ming in currency reform-it will not be pos
sible to hold prices at the recent semi
panic level, and, therefore, the present sit
uatlon affords Il good opportunity for buy
ing. We do not pretend to say how far this
recovering tendency in prices may imme-
diately run. Possibly the rise may halt
until the Presidents message and Secre-
tary Cages report have been digested, after
which a further advance may occur. But,
in any case, it would appear that purchases
at the present range of prices will prove
profitable.
THE concessions now offered by Spain to
the people of Cuba, conceding home govern
ment to the island, will doubtless be recog-
nized by members of Congress as sufficient
" n m fhni
inasmuch as this excellent result has been
brought about through astute diplomacy by
the administration, the Inference is that the
President and his Cabient are well satisfied
with the liberal attitude now taken by the
Spanish government. The plan proposed
for tho government of Cuba is, a matter
of fact, in many respects more liberal than
that accorded to Canada or to any other of
the British colonies, and 1t would appear,
therefore, that there is no longer any justi-
fication on the part of the insurgents in
continuing hostilities A government such
as is now proposed for Cuba, in the estima-
ton of fair-minded people, is undoubtedly
the best for them, for if an independent
government were established on the island
it would not be likely to prove permanent,
as ii would lack the necessary adhesive
qualities, and certainly no one having the
interests of this country at heart would adj
Vocate the annexation of Cuba and making
the Cuban people American citizens. There
hes been much anDrehesnion felt that the
coming Congress might evince spirit of
jingoism' similar TO that OF the last regu-
lar Congress This should not now be Sc
riously contemplated, as the release of the
American prisoners, the humane treatment
on the part of General Blanco of the Cuban
people and the withdrawal OF General Wey-
Ter since the last Congress is a revolution
airy change all around. and one that cannot
fail to be recognized as removing the sting
from jingoism.'
'',rhe people ought to be willing to leave
the entire Cuban question to the admins
tration. for settlement, and have faith that
the best will be done for the interests of