The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-19

which the best public opinion of the coun-
try attaches TO this issue, and undue post
ponement or superficial treatment OF 1t Is
simply inccnceivable. partisan mlsrepre-
sentatious to the contrary mo- -''t,Stand-
ing. Here, again, is a most valuable gam
IN the financial situation, as compared
with the chaotic conditions existing hve
months ago; which appeals very directly
to our foreign credit.
A similar Improvement is to be noted in
such aspects of foreign affairs as have
a bearing upon our Investments. Aflalrs
in Cuba have ceased to attract attention
on the Stock Exchange. and the fact that
the administration has decided upon pol
icy of non-intervention has removed the
feVerish apprehension that for months has
Kept Wall street in state OF tension. so
with respect TO the unsettled feeling that
mas existed in connection Wlth the POSI-
biilty that a European conflict might grow
out OF the hostile relations between Tur-
key and Greece. Those complications are
now entering upon a new and it may be
hoped, less critical phase. So long as the
powers were occupied with compulsions
intended to avert viOlences which might
run into the most serious complications,
there was an indefnable danger which
produced caution in every direction. Now
that a war between Turkey and Greece
seems quite possible, Russia, speaking pre-
sumably for the powers at large, declares
that, IN case of such a war; the concert
of the powers will cease it's present active
Intervention and simply wait for results,
with the fixed purpose of preventing either
of the belligerents which may be respon-
slble for starting the struggle from re-
ceiving any advantages from victory. This
threat is likely to keep both Turkey and
Greece careful about initiating hostilities,
and will afford an opportunity for the
two countries to settle their disputes
peacefully. The result is that, in spite of
the belligerent news that comes from the
camps of the opposing armies, the opinion
is gaining ground in the highest banking
circles of Europe-than which there is no
better source of knOwledge-that these
dangerous complications will find set
tlement without a widespread war. This
is an important gain upon the disturbing
political situation that has existed for
many weeks past
The foregoing factors show most inn
portant amelioration of a set of conditions
which have been holding financial inter-
ests in paralyzing suspense for some
months past. So far as these conditions
have been domestic-relating. for instance.
to silver and currency reform-these amel-
iorations have had direct tendency to
elevate our credit abroad; but that result
has failed to affect the European demand
for our investments because all the for
eign bourses have been alarmed by the
events in Eastern Europe. The removal
of this latter cause of disturbance would
therefore be calculated to bring about n
revival of our exports of securities. TAX
ing a broad view Of the outlook, there is
thus reason to hope that the conditions
influencing financial operations are enter
ing upon a more normal and hopeful
phase. After such a long run of severe
experiences as we have passed through,
a pessimistic habit of feeling becomes
established which prevents the approach
of better conditions from being distinctly
foreseen or fully appreciated; and, for
that reason, the situation of to-day and
the tendencies reaching into the future
are far from being credited with all the
promise that lies in them For my own
part, have every confidence that we are
now squarely on the way toward a solid
recovery and a great revival in all our
national interests. The ease in money,
the abundance of our stock of gold, the
rising drift OF credit, and the gradual re-
covery in the commercial markets are
working together to give effect to the
hopeful influences above cited.