, 1907-11-09
SENATOR WARREN HOME.

SENATOR WARREN HOME.
Senator Warren has just returned to
his home in Cheyenne from a trip 10
Europe. In an interview with the
Cheyenne Tribune the senator said:
The Overland train complete, pow.
err and all, is the best l know of Oh
this continent o. any other, and tnn
Union Pacific roadbed equal to any
and superior to most" said the sena-
tor. "One can now leave Washington
at 5:45 p. m. and reach Cheyenne at
11:55 p. m, the second day, with n
two hours stop in Chicago.
yet, | am in good health, and feel
entirely ready to commence the siren
nous work of the long term in con-
gress. My stay in the old world was
short, just two months from New York
back to New York, but l was able to
see a great deal of France, a good
deal of Italy, a little of Switzerland,
Germany and Belgium as well as some
parts of England and Scotland. | saw
enough to convince me that the Unit
ed States is the best of all, and has
the best government on earth, although
in candor | must admit there are some
things on the other side that We could
well adopt and follow, but that is an,
other story and must be treated at
some other time"
Asked as to the financial situation
and tbA f,.t,r. tln cAvntr .otl.
We'll, l am not a prophet, or the
son Of a prophet, or eve a distant
relative, nevertheless, | will in this
cas- prophesy that the financial furry
will soon be over, in fact, it is pretty
well over with now. Currency will.
in a few weeks, become very abundant,
in fact, a plethora which will bother
banks to move and properly distribute
and dispose of normally. Money will
again be seeking Investment, and in,
Gov some, but will not reach the
old, high level, until after the next
presidential campaign is well develop
ed and the election near at hand, with
a foreshadowing of final results. But,
nevertheless. well known listed bonds
will be sought after, with much
better prices compared with prices of
stocks than during the past five years
or more of Our abundant prosperity.
Industries will &C a little slower,
will be less difficult to secure laborers,
ordinary and skilled.
Wages have already been cut a
little by some of the great employers,
and If prices of living necessities
should recede a slight reduction of
wages along several lines may follow
I do not apply this locally, but speak.
ing of the country as a whole, with a
special reference to the great manu-
featuring c~enters.
All genuine, legitimate enterprises
are going forward II will continue
to do so, and the capital stock anu
property of the same will be in de-
mand. But many fake schemes will
bite the dust, and the clamorous, o
scienceless promoters will find a stony
hard road to travel. l should advise
every one having good notes, certi1,
Gates and loans bearing fair interest
to keep their investments where they
are, unless the money is needed for
some business enterprise, in which they
will engage, or for investment in land,
which is always good, rather than 10
displace their present loans for higher
rates which | think are bound to be
temporary. Many good people Will
experience tremendous s~hrinkages in
property and a few will go broke on
account of this tremendous shrinkage
in stock, but these will in nearly ev-
cry case, be those who were plungers
to a greater or less degree, who bor-
rowed heavily on slim margins or who
had foolishly been beguiled into invest.
ing in rotten concerns with promises
of high interests or dividends.
Stock are intrinsically worth, with
few exceptions, just the SAME as they
were before the panic which We are
passing through. So those who have
certificates of stock in good. sound con-
Germs have really lost nothing. The
intrinsical value is the same though
their paper value may be anywhere
from so to rs per cent less. If able
to hold their stocks the pendulum Will
swing the other way, and all will be
well again.
About the clearing house certificate
business: l wan to give that mode
of procedure in times of extremity, my
heartiest endorsement. Banks in Den.
yer and Cheyenne would have been
saved humiliation and loss If they had
proceeded in that way in '93 and '9i
the same as did New York and other
large cities. There Is never a single
day or place throughout the world
where in any u country, or city OF