The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-12-18

for money Immediately reflected itself
in London and Paris. and. though Inu IN
less So in New York. IL ~ stated 10y
those in position to know that the
change is now for the better. and
though money H. still wanted in Berlin.
there will be no great stTingency or
any difficulty. because the situation vas
faced i'm good times. AS a result. no
further advance Is anticipated Ia the
rate OF the Bank of England.
Il doubt IL the definite announcement
OF the signing OF the treaty II peace
with Spain has had much. II anything.
to do with the surprising advance in
all characters Of securities. A. a mat
ter Of fact. all the effects of such fn
act had long been discounted. as had
every step in the war in so far as brsi-
ness was concerned. Much OF he AT
vance is upon the basis of merit. OWING
to generally improved conditions.
Some. however. is purely speculative.
and may he carried to an extent tlat
will cause reaction.
This reaction. while Il might be s'ri-
Gus under other monetary conditions.
would have less marked effect with the
plethora of money on hand everywhere
throughout the country.
so great Is Il that I have heard II
intimated from good sources that there
has been some real discussion OF one
Of the foreign powers negotiating a
loan i'm New York. All this is accen-
tuated by the fact that American in
terests are loaning abroad. The force
OF economies In management and ,N-
penditure is not the least of the vra-
sons for a betterment in values of slow
and more thorough organization m
carrying on great enterprises. The 'e-
duction of prices In so many things IL
now compelled to be met by bett' r
IT. -. -.
volume OF business. Necessarily is his
so in all classes of industriais and rail-
roads.
AS for the banks. II is the greater
volume Cf business alone which en-
ables them. with so great n reduction
i'm the payment for transacting the
business to make a fair return upon the
capital invested.
"All this thing benefits more than
any one else the great body OF con-
sumers. However apparent on the face
of things combinations may seem to
he at present for the benefit of capital.
an analysis of the real effect OF them
will show that the consumer is the
largest gamer The danger I'm such
combinations lies i'm their inviting more
or less speculation. thus affording op-
portunity tn managers to sacrifice the
interests Of the great body OF share
holders to their own personal gain.
Then, too. the very great resources
vested i'm them tend To invite political
attack and cause participation in poll
tics by them.
However. these features can all be
safeguarded and I'm time combinations
made within the lines OF laws and fair
ness, conducted uuon legitimate busi-
ness principles. will be accepted here
as much part of every day CONNER
cial life as they are in other countries
where this evolution was long since a
| fixture and an accepted benefit"
II Is known that German institutions
have paid in the last five weeks as high
as four per cent for six months loans
made i'm Wall and La Sale streets,
which is not excessive, when IL is re-
called that the discount rate of the
Reichs bank is six per cent. Money be-
ing dearer In France and I'm England
than In the United States, the inference
f. logical that the foreign representa-
tives who are negotiating a loan In this
country are acting for the cars gov
ernment.