The Cairo bulletin., 1907-11-11
cElPTs OF GOLD.

Special
| Now York Nov. IA much bette
| Feeling eXiss in New Yotrk OWN
very largely to two circumstances
FIRST, the engagement Of over $4,000
i coo Of gold ana second, the saving 0
1.-TWO biz trrst companies from susper
SION Other factors also tended Il
give relief such as the clearheade,
control Of the situation exercised b,
Istrong financial leaders and the time
| " assistance rendered BY the govern
pent ut Washington In consequence
3oa these developments the securit,
markets though Quiet have shown {
substantial recovery, thus materialh
facilitating the liquidation which has
been necessary in various quarters
While the strain upon New York has
thus been moderated and the crisis
apparently passed without further
disaster the financial pressure has
sHread to all parts or the country
with varying severity IN all Of our
principal cities the monetary strin.
gancE, thoUsh less acute than i'll Now
York lias been exceedingly pro
nognced, calling for similar methods
af relief 10 those adopted III this city.
The situation moreover was serious
III aggravated by the disposition Of
the public to hoard currency; but
.fksg <.tf1 ,tLi.L 90 , eart,,A,, a., III
pennies is gradually disappearing aud
taa ship Of finance though badly
crippled by the recent storm. is
emerging In much better condition
tban anticipated
Now that the worst is over the
universal question asked is, what
must now be eEpcctel2 All previous
Faaes shcr that after the acute
stage OF rrlais was passed a suhstan.
tjal recovery followed on tho stock
10 ne succeeded by a
AZ ida af more Or less inertia ana de-
preston There 10 no reason to ar
tiainata a'lr departure from this rule
"a this panic although the conditions
ara n0t precisely similar to those Of
previous crises. The enc saving fea-
tire In the situation is the general
soundness Of our banks These in-
stitutions. though in the past not al
ways managed on the lines Of strict
prudence, are now as a whole emf
nently sound and have endured the
tremendous strain of the last few
weeks in splendid fashion. Dishonest
has been thoroughly
eliminated from our banks
ara railroads end IL Is safe to Say
hat soundness ard lawfuIness were
acHer mere prevalent in these institu
IONS than today. There Is no reason
.gr listrust III this quarter. The
weakest element id the financial Geld
aa been amongst the trust com
aanies which Mad entered the field Of
aankiue in competition With the
5ants brt without the restrictions
.nd safeguards Of the latter A break
Town IN this quarter has long been
expected and one important alyant
lge from recent experiences win he
hst in the future all trust com
fanies VIII have 10 be managed on
.ound and conservative lines
The effects Of the financial disturb
NEE now extending into the com
ncrcia world For selrprotection
Pee banks are compelled to materially
cstrict their credit operations. Mann
mess concerns win consequently
rave much difficulty in renewing oh |
iaations. and business win naturally
compelled % contract more or less
d accordance with the restriction Ct
rcdit How far this contraction VIII
n and with what consequences Il is |
impossible Ia predict but the sooner /
me fact rs recognized that general |
usinoss must iaEr Us share of tht
resent depression which has fallen /
uon Wmf street. the better fol |
% concerned. Ftcrythlng pussihl,
houid now be- done ;o rebuild cen |
.drnoe and cre1f fioardpl money
hord hr restored 90 the banks in
RIDER to enable them 70 better grant /
Pc accommodations which Il is thei' |
usncss 20 furnish II IS sheer foll
70 take money ont Of the banks and |
ide it ia stockings or safe deposit /
.ariis Is deposiiors are unwilling |
q iuyet their funds they should put |
aem ZIP sonnd banking institutions |
which there are plenty and not
anriee the community of the life
-a0d of commerce let these heard
ers Pc pui back into The banks So
f7t tie latter cen exercise their |
fimato functaus ~ Giving credit
sa recovery piil--tc duicffy rsT7s
@ b % tsuss D =
afE Htf n ana 4nrr rsrff-rs |