The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-02-08
BANKER cLEws' VIEWS.
The Financial Outlook as Seen From
Wall street.

New York. Feb. 6.-Wall street stin con-
tinues in a confident mood but with a
moderate volume of transactions The
men Of finance have confidence in the flu
ture; and that is the mainstay of values,
rather than anything that for the time
being is materially improving the earn
ings of corporate investments. 1t begins
to dawn upon those who have INDUCED in
expectations of a general boom, how near
we are to the time when confidence was
shaken to its very foundations and how
much pros tration the country has to re.
cover from.
Properly viewed, there is nothing to dis
courage even the most sanguine in the
tenacity with which men of finance stin
maintain a conservative attitude. They
are at least willing to move with events
and events have been and are now TAX
ing a notable turn for the better. SO far
as may be inferred from current political
incidents and from the utterances or the
late extremist press, there is a marked
reaction from the ante-election silver
craze. Bryan and Organism are becoming
discredited so far as respects their cur
rency theories, and are now showing more
disposition to accept settlement of the
money question upon sounder conditions.
There is also a reaction from the Vio-
lent spirit in politics, which helps to lessen
the apprehension on that score. The
masses begin to discover that they have
y
are now applying to other doctors for re-
lief from its nauseaung effects. 10 u
very important class of people, perhaps
nothing could be more assuring that this
manifest reaction from violent radical
ism.
Further, we are no longer apprehen-
sive of international entanglements. On
the contrary, the government has set be-
fore the world the most striking exhibit
ton of a spirit of international peace thar
any nation has ever afforded The arbi-
of policy; it will constitute great moral
force binding our people, to the mainte-
nance of a friendly attitude under dis
putes with other countries than Great
Britain merely, and which Will diminish
to minimum our risk of foreign war.
The critical attitude of the Senate to-
ward the treaty, though perhaps need
lesSly depriVing the great achievements
of its eclat is not likely to defeat its final
the compact of none of its essential feat
ures, but substantially leave it unim-
paired for all its larger purposes. 1t Is
not to be expected therefore that this
be appreciaby deprived of its benefcent
tendency by any action of the Senate.
noted and the more hopeful political as
poets generally have a silent but very
powerful influence in favor of confidence.
They are factors which appeal especial
ly to men of sagacity and of large means
and upon whom the value of investments
largely depends. The buttressing of con-
fidence ct this point, 1 regard as of the
utmost importance in restoring a healthy
tone in Wall street affairs.
We are able to note a continuance of
the improving European disposition to-
ward our securities. London has pur-
chased a fair amount of stocks and bonds
during the week, and has sold a smaller
sum. Arrangements have been made with
parties in Berlin for taking Northern Pa
ci1c securities valued at about $500, 900,
deliverable in installments; which is an
other evidence of the revival of the Ger
man demand referred to in my last adj
vices.