The sun., 1897-11-07

SATURDAY, Nov. g.
The stock market. owing to speculative con-
ditions. has been unusually susceptible this
week TO unfavorable Developments and
sensational reports Of . disturbing char
acter. Although the election Of the Tam
many candidates for officers Of the Greater
New York was expected by many people. the
defeat of the soundmoney party in the financial
centre Of the country had q chilling effect upon
capital and investment interests generally. Tho
cloSeness OF the election in Ohio served for q
few days to Offset Republican gains in Mary
land and o number OF tho Western States
A view of the recent elections that has not yet
been accorded the Importance It deserves Is
that the various notifications of the vote polled
last year are likely to make the party in power
at Washington exceedingly conservative in its
treatment of questions affecting tho business
interests Of the country.
So much importance IL attached to the as
sembling Of Congress that Q brief reference to
the work and probable action OF tho next
session IL pertinent at this time II Is
extremely fortunate that Congress cannot
disturb the business of the country this
winter BY tariff tinkering. The Administration
and its supporters arc bound TO leave that sub
ject alone until the present law has been
given Q fair trial. Tho hrst important sub
,ect that win engage tho attention OF Con-
Eress will DO the Cuban situation. and un-
less there 10 Q radical change in the relA-
tions between this country and Spain within the
next thirty days Congress. enlightened by the
diplomatic correspondents between the United
States and Spain which will undoubtedly be en-
bodied In the Presidents message. will have very
little to act upon unless II wishes to disregard
the views Of its constituents and precipitato
unnecessary and possibly costly inter
national complication. One thing can be
counted upon with absolute certainty. name
ly. that the Administration Is averse to
any demonstration OF jingoism and desires TO
treat the Cuban situation in . manner that will
conserve tho best interests Of the United States
Regarding socalled currency reform. little
can be expected from the next session of
Congress except interminable debate. The
majority OF the voters Of tha country turned
down free silver q year ago. and by do
ing SO contributed to the prosperity that
has since been enjoyed. The issue has also re-
ceived q serious setback abroad, although tho
Administration, faithful to It's promises, ap-
pears to have made an honest effort TO 50.
cure the cooperation OF Europe in some plan
for the larger use OF silver as money. In
consequence the debate in Congress IL pretty
certain to be limited to such questions as the
retirement OF legal tender notes, the ex-
pansion OF national bank note eirculA-
tion. and other suggestions relative to
tho readjustment Of the currency. As
the viewS OF hnanciers. politicians and
OF the business community are 30 varied
and widely divergent regarding all these
matters, 1t seems safe to assume that
about the only financial benefit from the
impending debate upon this subject will
accrue 10 the Government printer. providing he
| publishes the Congressional Record at space
rates II NOT. he may lose money. matter thar