Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-18
BRIGHTER AND BRIGHTER
Thoughtful Observers Speak Hopefully Of
Business Prospects
Millions of Foreign Money Must Find
Investment I'm This Country I'm the
Immediate Future.

morning enc of the most prominent bank
presidents in Washington, and democrat
in his political faith. spoke with much en-
rhasis about the coming good times.
THE depression we have passed through
was due, in my opinion, to distrust," he
said, among other things. When man
is unsettled in his mind he is not liable to
make any definite plans. He is environed
with perplexity and enveloped in doubt, and
locks out only for the immediate present,
preferring to- let the future take care of
itself That was the mental condition of
every financier in the country during the
period which has just come to close with
the passage of the tariff bill. No matter
whether the bill is good one or a bad one
1t has had the effect of assuring a certain
state of affairs for the Eext four years at
least. II 1t turns out that 1t will not Sc.
cure sufficient revenue to pay the running
expenses of the governMen it can be cas-
lily remedied in this regard. The fact that
II mas been adopted and Is a law has clear
ed away the clouds that obscured the vision
OF the men who have capital to invest, and
they can now see plainly what is ahead of
them and govern themselves accordingly.
A Period of Great Prosperity.
Il am convinced, absolutely convinced,
that the United States is entering period
of prosperity not surpassed in it's history
Take the crops of the present year. Our
wheat crop is worth 100000, 900; our hay
crop will be worth I00,O0O,OOO; it is impos-.
sible to calculate now the enormous value
of the corn crop. Everywhere else in the
world these staple crops are either failures
CT are very short. 1 have no doubt that
WITHIN the next two years our people will
be enjoying the possession of from $500
CoO.UO to $1,COOOO0,0W of foreign money
American Money Will Stay Here.
spoke of just now he continued will
have another effect that will be advantage
Gus to our country. 1t will cause American
capital to come out eagerly when American
securities are placed on the market There
are some enormous refunding schemes con-
templated by several of the great railroad
corporations, and it will be seen when the
time comes for their fulfilIment that Amer
lean bankers and capitalists will take the
securities offered away from foreign bid
ders There is general feeling. find, to
Keep our money in our own country and
l have no doubt that in the course of a
Few years many millions of the money paid
In interest that now goes abroad will be
retained here at home.'
Foreigners Mt Our Mercy.
Mr. William B. Hibbs. the well-known
broker. in conversation with a Star re-
porter this morning. gave very hopeful
picture of the future.
I'VE have got the fellows on the other
side on the rum" he said significantly, al
luding to the foreign dealers in American
securities. When they took advantage Of
the rise in the market some time ago 10
unload securities on our market we bought
them up and now they are buying them
back at still higher figures. Take the
Northern Pacific. for instance When the
new deal was in progress by which new
officers, including Dan Lamont, were to
be placed in control, Berlin threw millions
of the stock into our market. It was eager
ly taken up. Now the Germans are buying
it back at great advances in price Ameri-
can capitalists have plenty Of money to in
vest, and are getting more of it in just the
way have described. The foreigners will
have to buy our breadstuffs, too. Our crops
are fine; theirs are failures. We are going
to get their money in that direction, too.
There is no doubt about rich prosperity be-
ing right ahead of US. We have every
thing our own way. and knowing this,
money will no longer be allowed to remain
idle"
Hopeful Feeling Everywhere.
Bankers and brokers generally take the
same views Of the conditions as those
quoted above, and among those merchants
and business men who have hitherfo par-