Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1905-02-02
RUSSIA AND THE MARKETS.

Henry Clews in his weekly market
letter. says that the situation in Rus
STA, during the past week has affected
the market in New York and that this
together with the likelihood of the ap-
ploach of the end of the Russo-Japan-
ese war has overshadowed the posi-
bility of legislation that might disturb
market conditions. Mr.. CIews still
maintains that there will be no radical
legislation despite the fact that an ex-
ira session Of congress will be held
this year. Mr.. Clews gives a splendid
review of. the effects of the events in
turbulent Russia and his whole letter
Is an interesting reflection of, condi-
tions in New York. He says:
THE New York financial situation
has been more or less affected by the
outbreak in Russia. For a period it
was impossible to tell what would be
the extent and consequences of an up
rising which has long been feared, and
which has not yet by any means. Gull
minated, The fact, however. that the
government at St. Petersburg had
taken rigorous methods of suppress
ing disorder. and with considerable
success, tended to partially restore
confidence; and there was much less
uneasiness in the latter part of the
week than when the outbreak first be-
gan.
1T is quite premature, however, to
assume that the trouble is over. While
the final outcome is beyond human
foresight, 1t is practically certain that
the enlightened political freedom
which Russia needs and must have for
her natural development is only de-
ferred and cannot be postponed In
definitely. Whether it will be OBJ
tainedhby peaceful or by revolution
ary methods remains to be seen. The
czar, a humane but weak. ruler, is I'M
fortunately under complete control Of
the bureaucracy and no concessions of
importance are expected at present
from that quarter. The revolutionists
which include all classes from an
archists to the zemstvos are a body
thus far incapable of organization and
entirely lacking in able or forceful
leadership. Such being the case, the
government may be able to maintain
order if the army continues loyal; but
the whole situation is highly volcanic
and contains all the elements Of a
great reyolution-the natural uprising
of a long-suffering people who have
been held down by the iron rule of an
arbitrary and autocratic government.
Evidently the time has come for the
Russian people to rise up and assert
their human rights to be more in keep
ing with this enlightened age. The
2 should not hesitate to liberalize
governmental methods for the bene-
fit OF. the people and so restore con
tentment and make his subjects truly
patriotic.
"Such chaotic conditions must e.
ercise a REFRESHING influence upon Eu.
ropean bourses, Paris being the cen.
tire Of interest from the financial stand
point. French holdings of Russian
bonds are said to aggregate about ST.:
300, 000, 000, which have only been
saved from sharp depreciation through
the most powerful support on the part
Of the great European bankers. I'm.
fortunately, short sales have been
made Illegal, and the means of sup
port adopted instead may well be Xix.
ened ITO the daing Of a stream,
which only intensities the food In case
Of a break. Partisan bankers, how
ever, have been unquestionably
strengthening themselves, and much
of the gold withdrawn from this and
other markets during the past few