The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1897-02-14
WALL STREET IN
CONFIDENT MOOD
Country Gradually Recovering From
the Great Depression.
TOO LARGE A DOSE OF BRYAN
But the People Are Awakening 20 Sense
Cabinet Appointments Have Had
nm Assuring Effect
roo LARGE A DOSE OF BRYAN

| Special 10 the AHt0rlan.
New York. February 6.--Wall street
still continues In a confident mod. but
with moderate volume OF transactions.
The men OF finance have confidence In
the future. and that is the mainstay
of values. rather than anything that
for the time being is materially i'm
proving the earnings of corporate In
vostmenis II begins 90 dawn upon
those who have indulged In oxgpecta-
tionA of a general boom. how ne1~ we
are 20 the time when confidence was
shaken 10 itS very foundations and how
much proat rutlon the country has 10
recover from The year 1896 was far
the most trying OF the four years OF
depression through which the country
passed II was not only the culmina-
tion ~ this money arrangements OF the
three previous years; II had also serious
special causes Of disturbance, outside
OF those incident 10 finance proper.
Twice we appeared 10 be on the verge
OF foreign war. and the rampant mill
tnry spirit which our relations with
England and Spain evoked alarmed So
bcr-minded people at the apparent edse
with which the country might nj any
time be- precipItatcd into warlike silt
uationa or actual conflict Stlll more
alarming to rejecting people was the
fierce spirit Of sectional and class anil
moaliles developed In the course OF the
election canvass. TO say nothing OF the
danger OF the country being committed
to pro-sllver policy. These revela-
lions produced distrusts of character
new 10 American citizens and which
have disturbed confidence among larSe
owners OF capital much more deeply
than appears on the surface. From
this point Of view. we may Judge how
deep was the disturbance OF confidence
with which recuperotlve tendencies
have had TO deal and what We're the
obstacles 10 investment movements
which depended upon the cooperation
OF men uf large capital Those men are
the class who have been most directly
threatened by recent conditions. ana
they are therefore likely 90 be the lat
cst To participate freely In Wall street
undertakings, These considerations de-
serve the attention Of those who ne
still complaining about the non-appear-
ance Of the hoped-for great boom, and
ity may be expected TO come SraGul,y
rather than Immediately and with a !
rush
Properly Viewed. there ls nothing TO
discourage even the most sanSuine In
the tcnacity with which men OF lnahce
still maintain conservative attitude,
They are at least willing to move with
events: and events have been AMI ara
now taking notable turn for the bet |
ter, SO far as may be Inferred from
current political Incidents, and from
the uttcrances OF the late extremist
press, there is a marked reaction from
the ante-election silver craze. Bryan
and Bryanism are becoming discredited
so far az respects their currency the |
ories, and are now showing more dis
position to accept a settlement OF the |
money question upon sounder oondl- |
tlons There Is also a reaction from
the violent spirit in politics, which heirs |
to lessen the apprehension on that
score, The masses begin to discover
that they have taken too large a dose |
of Organism and are now applying to
other doctors for relief from it's nau-
seating effects. To very important
class of people perhaps nothing could |
be more assuring than this manifest
reaction from violent radlcalsm.
Further, we are no longer apprehen-
sive of international entanglements,
On the contrary. the government has
set before the world the most striking |
exhibition OF a spirit OF international |
peace that any nation has ever Afforded |
The arbitration treaty Is more than an
tAIltSSlul VI u poliSgt ~ WIZ 1bllsNANuNS
a great moral force binding our people
to the maintenance of n friendly atti-
tude under disputes with other coun-
tries than Great Britain merely, and |
which will diminish to minimum our
risks of foreign war The critical atti-
tude of the senate towards the treaty,
though perhaps needlessly deprlving the
great achievement Of its eclat, Is not
likely to defeat its final ratifcati VI. The
deprive the compact Of
none Of its essential features but sub
stantially leave II unimpaired for all
its larger purposes. 1t is not to be ex-
pected therefore that this new stimu-
LUIS to public confidence will be appre-
ciably deprived of its beuchcent ten
dency by any action of the senate.
The president-elect's selections for the
two leading positions in the cabinet
have had an assuring effect. The feel
Ing is general that the peace and good
order OF the country will he safe in the
hands of Mr., sherman. Mr.. Cages ac-
ceptance of the treasury portfolio af-
fords an accession Of strength to the
sound money sentiment Of the country.
The new president and his secretary Of
tl,a traae,,rv Nt,iu xritho,t much doubt