The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-27
Views of banker CIeyys.

In discussing the financial condition, Hen
ry Clews, the New York banker, says: "One
of the hopeful features OF the situation con-
ssts in the many evidences that men of
business are overcoming the commercial
timidity excited by the outbreak of the war
and prosecuting their operations with the
same confidence as if we were at peace. AS
evidence of this on Thursday, more interest
was taken in the college boat race than in
the impending battle. Within ten days
loan of S., 10000 has been introduced and the
reconstruction scheme of the Baltimore &
Ohio Railroad has been launched, notwith-
standing the current negotiation of a gov
eminent loan of $685. 900. These facts
show Enthusiastically what is the estimate of
bankers-who should be the best judges in
such matters-as to the stability and
healthiness of the financial situation. These
evidences of confidence will beget further
confidence; and it will become more and
more evident that the war interruption to
the great revival which set in during the
last half of 1897 is but momentary halt and
will have no permanent influence in check
ing the process of recovery from the silver
decentralization of previous years. Indeed,
costly as the war is likely to prove, it is al
ready foreseen that it is destined to lay the
basis for great national revival which will
far more than compensate for these tempo
rary OUTLAWS 1t can never injure young
ana vigorous nation, resting on its past and
neglecJful of its future, to sustain sharp
shaking up such as a foreign war is apt to
1nfiict Such an event starts inquiry to
what are the national resources, what use
has been made of them, what has been neg
lected and what is within reach This sort
OF national survey has revealed to us way
to new openings for our commerce; it has
discovered to us our rank and standing
he not ND al
demonstration of our power TO command the
Difference and respect of the worlds great
est powers. 1t has uncovered to us greater
future in the worlds competition for inter-
national trade; which is the one thing the
country most vitality needs, and the absence
of which has cast grave forebodings over
the prospects of our overproducing indus
tries. 1t has also created the occasion for
offers of cooperation with the worlds fore
policy that would subject international
trade to military dictation and monopoly.
These are among the things that the war
already offers us as it's rewards; and it is
not surprising that the spirit of the people
is becoming more confident and hopeful.
The following is an extract from letter
which | recently received from an influential
member of Parliament, representing one of
Great Brtains largest cities, which speaks
for itself: Just line to say that | do not
agree with your circular letter, which L
have just read, where you suggest that the
Philippines should be given back to Spain
for Cuba. hope you will keep the Philip
some work in the world outside your own
country. You will have to do it eventually,
and you may as well begin now as wait. /
am afraid it will not be many years until
we have to do some joint account fighting
with continental countries for possession of
the parts of the world which are misgov-
erned at present.
THE following is my reply thereto: I
have your esteemed letter of the 10th inst,
and your views about the retention of the
Philippines are getting to be growing feel
ing here. The position which your country
has taken in sympathy with our own has
revolutionized the feeling of the people of
this Nation 1t is common thing in thea
tiers and large assemblages. where they have
bands of music, after playing the Star
spangled Banner to tune up God Save the
Queen, and the enthusiasm is almost as
great for the Queen as it is for the President
of the United States. have in my office
the English flag by the side of the stars
and stripes, and it is no unusual thing now
to see the union jack unfured to the breeze
in different parts of the city. All this rep
resents an unmis taxable desire that the
English-speaking race should stand more
unitedly together hereafter. That union
means the domination of the world, and
peace, prosperity and civilization to man
kind :"