The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-21
views OF Henry CIews.

Banker Clews. of New York in reviewing
the situation in Wall street, as affected by
the recent election, says: I'VE have now
had another federal election, which re-
affirms the decision of the country that
gold, and not silver, shall be the money of
contracts and the basis of our currency sys-
tenn And beyond this, the vote has re-
vealed wholly unexpected reaction against
populism and socialistic tendencies. The
reaction is against silVerism, Organism,
Altgeldism, anarchism, socialism, pop
ulism and sectionalism, which only short
time since were rampant and spreading
disease throughout the country. The gold
cure, together with 81 wheat and the sue
cess of the Spanish war, have been an ef-
fectual remedy for all those ills The sue
cess of the treatment has restored vigorous
health to the Nation, and the present in
creasing prosperity of the American people
is the natural outcome. In spite of the eff
forts of the legislative quacks. the forces OF
nature have accomplished the good work.
All obstacles being removed, good times are
now assured for prolonged period.
Thus in a political sense, we may be SAID
to have recovered a normal condition; and
that in a republic where all hangs upon the
soundness of popular opinion, is an invalu-
able result AS a lesson in politics this has
the most significance, for 1t shows that
among an intelligent constituency, aberra-
detected by the common sense or the mass
of voters and dangerous fallacieS are re-
tracted before they can be Incorporated into
law. If this lesson be taken TO heart py
politicians we may have, in our future poll
tics, less demagogism and less appeal TO
popular passion.
opinion is an object lesson to the foreign
critics who are jealousy watching the work
ing of our political institutions ana using
methods from our apparent failure. ANA SO
far as it encourages commence III our
methods of government, 1t encourages for-
eign confidence in our credit and invest
ments. 1t is no small thing for our financial
status in Europe that these four things
should happen -ooncurrently; "a that we
have thus signally vindicated our ability for
wise and safe government; (2) that we nave
conducted an important war 10 speedy ana
victorious issue without any financial de-
rangement and with no disturbance to our
trade; CD that, within the last TWO years;
our exports of merchandlse nave eXceeQsu
government ended the war with $500 O0O,UO
of cash in it's treasury. This comblnatlon
of achievements AFFORDS an exhlpltlon Oh
national strength which, it is safe to say,
finds no parallel in the history of the pow
ers Of Europe; and we have not yet seen the
full effects of this exhibition upon on the ne
the United States. This has more TO 90
than is generally supposed with the present
indisposition of the great powers to interfere
in orr settlement with Spain. The great
bankers of Europe have no Inclination 10
sanction unfriendly acts towards this cOun-
try with such a condition of financial rela-
ti0ns as our creditor trade balances have
sThe monthly report on our foreign trade
shows a moderate gain in the imports ana
still extraordinary exports. The imports OF
the month inclusive of silver, show total
of $54 sos 600 against $50, 262 900, the increase
heing 81 644 OO0 and compared with 1896
the increase is 81. 957 900. The exports amount
TO 1928 1875. Geo. compared with $116,969 1000 IN
1897 showing an increase of Sc, 229, COO and
compared with 1896 the increase is a. 7O9,0 900.
The following comparison shows the value
of imports and exports for the month or
October in each of the three years:
1885, 1897 1896.
Imnorts $4 5000 $50, 262 COO So, 949, 600
Exports .... 123, $4,000 900 1lS4S9,GOO
Eek of ex'p's SOS $4,000 1853. 7O7 900 $65 $40. 600
For the twelve months ending Oct, 81 the
surnlus of exports over imports, for the last
sly wears compares as follows:
Twelve months, 1878 1898 O7S, GOO
Twelve months 1885, .............. 80 ~ Ivy
twelve months 1S95-6...........:... PSI 318 600
Twelve months, 4-5......,......... 21022,0J0
Twelve months, 1884 ........,....... 182 $4,000
Twelve months, 1S92-S................ $3.50 900
I'm view of the facts above presented, /
cannot but regard the present situation of
the stock market as more than usually bull
ish and as affording extraordinary induce
ments on the buying side"
Saturdays Bank CIearings.
A+ f.bica 0o-CIearings sl7 7sf 729: balances