The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-05
The Monetary Trust.

me MoHetdly tIuSt.
There is an organization. corporation or
the like IN New York City known as The
Money Trust whose president, Francis D.
CAREY. In a circular. issued once week.
attempts to tell the American people the
exact status of the financial situation. His
screed Of this week. received last evening.
by due course Of mail is as follows:
These market letters are not prepared for
the exhibition of rhetoric, they are no.
prepared for any poetic or romantic reason;
they are prepared for business purposes, IN
order to teach the general public the under
lying principles which govern In business
and IN finance. They are prepared in the
belief, that If we serve the public, the pub
lie Will in good time return that service For
this reason We do not hesitate to reitera.e
important statements. For this reason we
now remind our readers that we did have
tempestuous panic few years ago. 1t
covered all countries and crushed down all
markets. This country did not recover
from that panic as England, France and
Germany. The reason this country did not
recover was the remarkable development of
Populism and evil politics. From Wash
ington, from congress, from the presidency,
from the United States court itself have
come the national scares and sensations.
which have kept the American people from
moving forward in natural manner to
keep their country in the front march with
other leading nations of the world. Sew
eral times during this terrific period we
have though the indications pointed clearly
to return OF public confidence. AS many
times we have been mistaken, because new
and unexpected sensations came from our
own government. Once more We are pleased
to announce that all the indications show a
distinct decline of public distrust and con-
sequent gain of public confidence. Our
readers will be entertained to see how uni
formly the leading financial writer's agree
upon this subject.
There are many individual owners of
money who should not undertake to realize
more than or per cent. There are other
owners Of money who are still in the think
ing period of life, who should exercise judy
met in the use thereof, and should under
take to make more than simple interest.
Much money can not be accumulated by
the ownership of securities which yield only
or per cent. On the other hand. enor-
nous amounts of money are lost by those
who undertake 10 make money by narrow
margined Speculation which is founded
upon the illogical fluctuations OF markets.
Between these two extremes, fever:sh spec
ulation on the one hand, and low simple IN
terest on the other, there Is a large and
worthy field. which The Monetary Trust
has undertaken to occup. 1t is a worthy
field, and, If well occupied, incalculable
benefits will accrue to the courageous and
enterprising. In the character of its or
ganization. this institution is all that could
be desired. The difficulties lie in the execu-
ton of the exacting mission of its officers.
fc hat he ~
the institution shall more and more nearly
approach the high ideal Of its Incorporation,
and to this end will we constantly strive to
hold its interests aloof from feverish "spec-
ulation," and to rest them upon the natural
development of the great properties Of this
country. All men of experience and re-
Fiction in reference to financial affairs have
realized that in the development of human
experience there are periods during which
We are constantly confronted with quick
sand conditions, when every effort seems to
be undermined by forces beyond human
control, and when all developments seem to
exist in a yielding environment. During
such period the best laid schemes Of men
gang oft aglee" This institution was
established to aid its clients in the accumu-
lation of money, but such accumulation can
only be made in large amounts during a
favorable period. As there are periods In
human history which are filled with quick
sand conditions. so there are periods when
all the currents of human effort seem 10
move in favorable direction. Once more
We now thing we see indications Of the
development of such a period. When COM
merciai and financial influences are work
ing in favorable direction. good bonds
and sound securities can be bought at
prices below their INTRINSIC value. because
the public is not yet informed concerning
them-securities which acquire new value
because Of new developments. The grow
ing relative value Of the United States cou-
pom bonds gives an Illustration. Properties
which have stood the test OF panic are
nearer safety and certainty than any new
efforts of the human mind can be. We ask
business men OF experience and conserva-
tism to consider the character Of this !nsti-
tuition and the mission II has undertaken.
It will constantly grow upon them that be-
tween per cent interest on the one hard
ard Illogical speculation" on the other
hand there is a vast and promising field.
OF this field The Monetary Trust will strive
to prove a worthy occupant
The New York security market Is pass
ing through the slow stages OF positive re-
covery from protracted depression. and,
Win pciiOOS VI ucS-ldlAcu, VIII SOnl.HUc "
show improvement. Nothing but a nationa.
sensation, which is not now in view, SO
vast and important that IL changes the feel
ings and movements Of the majority Of men,
will be sufficient 20 check this progress Of
the market.
The fact Is land again we are re.terating
our old-time statements) butinese has been
much better than our public writers and
private bears have made it out. If we
look at the volume Of business. we find
that the general movement is fully as large
as it ever was in the history OF the country.
The apparent deficiency arises from the
fact that the goods now being handled are
so much lower in prices.