New-York tribune., 1897-07-31
SIGNS OF REVIVAL EVERYWHERE
WHAT CONGRESSMAN GRESHAM SAW ON a
rOI-R The COUNTRY

TOUR OF THE COUNTRY
wasbinrton Julv 90 SpeciaD.-Ex-C Congressman
Gresham Of Galveston Tex, is staying mere TOT
dav on business Mr. Gresham when in the House of
REPRESENTATIVES was member OF one of the COM
mittess having to do with finance. and always
showed great familiarity. with financial and eco
nonic subjects man Of business and broad IDEAS
his otservat .ons business trip through the va
rious sections Of the country excluding the ex-
treme West are valuable just at this time. Ihey
are the moie important because while souhd
money man. he is not a pro,ectionist. and what ne
saws tends to strengthen the hold the Dingley bill
has the public
.'I left home the 18TH" said Mr Gresham. In
rexas things are moving on conservatively, with
some progress and encouragement. found de-
cieedly better business tone than formerly IN 81
Louis There was 'boomy' feeling among the
chicago business men and bankers when got
there Whether II due to the good crops
especially wheat, 70 other causes az "'"'
cannot saw 1t was then foreseen that the Iarl1
bill would pass. and II may have had something
10 do with the anticipation OF prosperity. New
York SHOW ed more activity than expected to find
IN stocks and general business had talk with
nv old fellow Congressman, Mr. Hendrix, who Is
president of the National Union Bank. He told me
he was quite that there would he revival or
business that all the signs pointed 10 H. ana tha
it would have something permanent in II. lie ana
I hold very much the same general ideas on poiiti-
cal and economic matters. Boston was more
conservative and there somewhat less stress
laid on the revival OF business but even there
saw evidences Of II. In Philadelphia, as In New
York the business were hopeful and more
disposed TO Increase the volume of business and
embark IN new enterprises. In all these cities,
East and West there is activity, less reserve
and suspicion The feeling is much more elastic.
A part Of this Is undoubtedly due to settling the
tariff question foi the present. at least The un-
rest of the last three four years. the country
going rap lily from position or the question TO
the opposite, decidedly unfavorabe to trade
and industry There chance for develop
ment, and the contraction of enterprise. throwing
many thousands out of active or sufficient employ
and Of partial pauperism. An that is changing.
What do think Of the Alaskan and Clondyke
gold discoveries and the effect on business and the
economic condition of the United States and the
world?
at is true that in previous periods. such as the
California gold finds Of 40. there excess OF
normal gold production which temporarily affected
the price of silver through the appreciation OF gold
Rut II Is nv belief that these things have been
ovcrestima ted There will in judgment be no
considerable influence exerted on the hnancial pol
icv of the civilized nations by extensive discoveries
of gold fields. On the contrary. my study ana OBJ
servation convince me that the effect Will be slight
ard transient; that while silver nations like Chill
will Tor ages remain silver nations. they WILL as
Japan come TO adopt the gold standard In their
foreign commercial intercourse The single stand
ard ,s The result Of high civilization. Blmetalism
In the old sense Of the word will not he restored by
nnlphtened commercial nations. Freer use OF sill
YER NAV well among them, but IN no other
sense will we have bmetallism again