The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-12-21
Attention Now Turned TO Dip
I0maiC tfairs
A PEACEFUL SETTLEMENT
1t Is Thought That the Venezuela
Troubles Can be Settled Without
Any Serious Rupture With
Foreign Governments
BY W. G. NICHOLAS.

New York, December 20.zThe action
Of a group of strong banks In providing
n s5o0O0.O00 emergency credit to protect
tho stock market against further undue
depression having Gained the disquiet
over the monetary situation, Wall street
is turning its attention to diplomacy,
statescraft and war. It Is watching with
great interest the moves being made In
the Venezuelan matter and specializing
on the outcome. While the open ex-
preston and possibly the honest general
belief is that the dispute Will be arrang-
ed without rupture of relations between
this government and the old world pow
ers, an undertone of uneasiness Is felt in
the finacial district. There Is nothing par
ticularly soothing in the spectacle Of the
warships Of Great Britain and Germany
and other foreign nations hurrying to
South American waters, or in the fact
that the United States has nassed there
already the strongest feet of warships
and armored cruisers ever brought to-
gether under the American flag. This
display may conduce to peace, but at the
same time there Is something almost
terrifying in the grim and bristling front
presented by the great powers on earth
which profess ardent desire to avoid
trouble and are, at the same time, clear
ing their decks for action and sending
women and children back into the bomb
proofs. Spectators figuring on the pos
sible effect of serious troubles of war
like nature are by TO means agreed that
an actual conflict Will spell ruin to Sc
curitles They recall what happened
when the Spanish American war began.
During the preliminary moves the stock
market steadily sold down, but the very
moment war became inevitable the mar
ket started up and 1t did not stop advanc-
ing for two stright years The turn was
at the time OF the famous secret mid
night meeting held at the residence of
the late Vice President Hobart In Wash
ington, at which leaders In congress-
members of the Mckinley administration
| and several of the great New York hnan-
ciers were present The Wall street con-
tingent hurried back to New York. pre-
| pared to unite the financial interests in
| supporting values. believing that the war
announcement would be followed by col
| lapse. To their amazement and JOY there
| was no occasion for more than a demon
| stration of willingness on their part to
| stand under the market The great Amer
| lcaH publc IhSLcu III anu DOuSHl SeCuIl-
! ties right and left. 1t was a way the
| people had of showing their confidence In
| the government 1t seemed as though
| men with money regarded II almost as an
/ act of patriotism to go In and buy stocks.
| 1t was a bet on themselves and the old
| flag and visible proof to the civilized
| world that we believed in ourselves. Re-
| membering this remarkable demonstra-
| ton, spectators are more than half In
| clined to believe that real war between
| the United States and the allied powers
| might be followed by another similar
| movement. although they admit the pos
sibility of a very sharp break preced-
| ing it,