The times., 1898-07-25
VIEWS OF A FINANCIER.
He Regards the Outlook as EN-
trcmeIy Encouraging.

New York, July 23.-Henry Clews. in his
weekly letter on the war and It's influence
on the financial situation. says: THE
main question is, when will it end?''
Mr. Clews makes very strong compar
ison between the strength OF America and
Spain. and concludes in answer TO his
own question:
The responsible rulers of Spain can
not but be as well aware as ourselves Of
the utter hopelessness of their case. but
what are they doing under the circum-
stances beyond issuing their daily batch
of falsehoods to deceive their people and
effect post aonements that can accomplish
no good but may soon divest them of ev-
cry vestige OF power TO control the situa-
tion?
There have been some reasons for un-
easiness as to the possibility of some form
of intervention being attempted by Euro
pean governments. AS time goes on those
misgivings seem to lose their seriousness
There has been evidence enough OF
Spain having done her utmost 10 enlist
the help of the other powers; but so far
every one of the leading European gov
ernments has persistently adhered to an
attitude of strict neutrality. 1t had al
most been taken for granted that we
should find trouble in our occupation of
the Philippines. At that point. however.
the last fears of a hitch from some form
of German interpesition have been set at
rest by entirely satisfactory assurances
from that government
''Viewing the war situation as a whole,
then 1t presents no diScouraging aspects
for this country, but it is suggestive of
possibilities that peace may be unneces-
| sarily postponed. The Spanish govern
ment would of course be only too glad
to consider terms of settlement: but it is
probably quite safe TO assume that Sa-
gasta burst not accept the conditions
upon which the United States must in
sist-the absolute surrender of Cuba Por-
to Rice and the Philippines. There is
! the great obstacle to peace; and it re-
| mains to be seen how it will be sur
mounted.
| to Mr. Clews. He says of the conditions
now existing and of those that will fol-
| low the war:
ultimately the war will prove pow
| erful stimulus to the whole country. II
| has buried old political issues which were
| paralyziI.5 trade and industry and deveI-
| oped in our people a spirit of confidence
| and aggressiveness which will inevitably
! be reflected in the business affairs of the
| nation. DE pOHtlcdI situation is more
| satisfactory than for many years pas;
| New questions are before u.s. the solu-
! ton of which will broaden and strengthen
| the whole country from the Atlantic to
! the Pacific. In the financial situation
| there is also reason for confidence. Money
| is plentiful and promises to continue So
| 'Vrhe agricultural situation is another
| and very important element of promise.
| Farmers are rapidly getting out of debt,
/ and with increased prosperity are buying
/ more freely of both the necessities and
| luxuries of life. Western merchants COM
! ing to this city are enthusiastic in their
| reports of trade prospects during the
| coming Fall, and the outlook is that the
| next six months will show very decided
| business revival Even in the South trade
| shows marked recuperative tendencies.
| Notwithstanding the discouragingly low
| price of cotton Many new enterprises
are under consideration and a larger de-
mand for all sorts of raw materials will
soon be manifest"