The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-06-28
THE MORNING NEWS: MONDAY, JUNE IS. 1897.

come upon the country; and the local spec
uIatlVe contingent cannot delay much
longer in relaxing its misgivings and al
lowing the recuperative forces full swing
There IS this evidence that 1.-The street
Is awakening to the approach of revival;
we are close upon the usual summer con-
traction Of operations but there is none
OF the closing-up of accounts that usually
comes at this season; an indefinite hope
keeps operators at their posts, and it is
tar from being among the impossibinties
that speculation may remain active well
into the summer and prepare the way for
Yeritable fall BOOM
1t is worth noting that the current buy
ing orders from the interior come largely
from those whose positions make them
familiar with the current business and
the prospects of the railroads and who
are imbued with the confident expectation
of a revival of business which has been
so confidently foreshadowed by many
prominent railroad officials. These buyers
understand better than we at this center
the extent to which the farmers have al
ready been benefited by the rise in prices
of last years crops of breadsuffs, and
they see evidence of larger new. crops at
probably still higher range of prices.
All this means not only improved earnings
for the railroads but also better times
Tor the manufacturers and merchants
who cater for their wants.
An unmstakable evidence of the i'm
provement in business is afforded by the
increasing demand upon the local banks
Tor discounts. Last Saturdays statement
of the associated banks showed an in
crease in loans of S13,0O0,000 within the
last four weeks; the gain being materially
due to operations on interior account !;
which again shows the expansion of trade
in other sections to which I have already
maze reference. Country merchants ar
y h.szr
sence of the buoyancy of business which
has set in among their own people.
Incident to, the settlements abroad of
July interest and to an active demand for
travellers credits, there is a revival of the
export movement in gold and at the mo-
ment of writing the weeks shipments APP
pear likely to aggregate around 5000, 000
These transactions. however, have no eff
feet upon the securities market; first. be-
cause there bearing upon the money mar
ket is wholesome rather than otherwise !;
next because, with current supply from
our gold mines of about sos 900 900 per year,
we can well afford to part with the metal !;
next because the treasury is amply able
to meet the demand and next because the
course of our foreign trade foreshadows
a comparatively early return of the gold
we are now parting with.
Inc great spectacular event of Queen
Nlctorias jubilee has not been without its
effect upon the practical imagination of
Wall street. The population of this coun-
try has grown up to probably in the neigh
borhood of 73,000.00O, which is about double
what 1t was at the termination of the war
-thirty-two years ago-thus showing that
this Is a pretty progressive country-but
there are others. Let us see how the above
statement compares with the increase in
the British empire.
At the commencement of the queens
reign in 1887 the number of her subjects
was 127,5O0,0O0 After sixty years pros
porous reign (Which has been celebra ted
so grandly in London) her subjects now
number 1853, 10000; and this great and good
woman is now queen and empress over
one-fourth of the populated globe This
exhibit makes the strongest argument pos
sible in favor of the interna tional arbitra-
ton treaty between this country and Great
Britain. Such an obligation will unite 420,-
100000 of people under an International
compact, so that this country will get a
full equivalent in the undertaking. espec-
tally as its influence over other nations
cannot fail to gradually bring them into
similar happy relationship, when the
sword will be effectually conquered by the
pen This should be brought about in time
to start the twentieth century with and
a jubilee between the various nations
should take place that will eclipse the no.
table one of this week, making the first
year of the coming century the great ju-
bilee civilization year