The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-01-19
HOUSTON TALKS
WARANO POLITICS
New York Visit C0nvinCeS Him
Clash With Japan Is
Not Unlikely.
ROOSEVELT IN BAD oDoR
BRYAN AND cOLER PICKED FOR
WINNING TICKET.

After three weeks spent in New
York. ]. w. Houston returned yester-
day TO salt Lake. Mr.. Houston said
that the consensus of opinion in the
east is that the country is rapidly re-
covering from the panicky condition Of
arfalrs, and things are beginning to re-
sumo normal shape. Banks are now
reopening and business houses increas-
ing stocks and public confidence is be-
ing restored
Instead of the financial question, Mr..
Houston said that national politics is
now the all-absOrbing topic of public
interest. Among the financiers Mr..
Houston said that there is a strong
feeling of bitterness toward President
Roosevelt The financiers, however, he
said, are not in control of the Repub-
Ican politics, and the probabilities are
that William II. Taft, the administra-
ton candidate, would receive the nom
ination over Governor Hughes. who
would have the backing of the finan-
cial interests. Bryan and Coler he
thought would without doubt be the
Democratic candidates for president
and vice president, respectively and
the feeling in the east among those
who should know was that the Demo-
cratic ticket would be elected.
Subdued but persistent rumors of an
approaching war with Japan continue
TO circulate to such a degree that Mr.
Houston says many people who by
virtue of their. public careers seem in
be in close touch with the govern
mental policy, declare that theG ru-
mored war is not only a possibility,
but almost a probability. Mr. Houston
gives several reasons that would indi-
cate that these rumors were not alto
gether jingoism. The sudden activity
of the navy and the departure of the
great feet to the Pacific are looked
upon In New York as Omens of an i'm
pending struggle on the Pacific
Politics and War Talk.
Politics and war talk" said Mr..
Houston, have crowded out the finan-
cial question from the center of the
stage of public interest in New York,
and the effect on the financial question
Is a good one. When I arrived in New
York shortly before Christmas there
was feeling of pessimism that has
entirely disappeared at present Fin
anciers and business men fixed Jan I
as the date of the beginning of the i'm
provement of the situation, and il did
improve on that date Just why they
should have named this date as the
beginning of the Improvement is hard
TO say. 1t is true that il is a dividend
date, but there are other dividend |
dates throughout the year and, any
way, the mere transfer of the money
from one till to another would not seem
TO improve the conditions at,aH. New /
ertheless the situation was Immediate |
~ improved.
1T is hard to say just what caused |
the relief of the situation. I don't re- |
member of having heard a reason Civ |
en-. What l believe has caused she I'M |
provement of the situation is that this /
panic was never anything but d men |
tai and sentimental panic at worst |
and when this mental and sentimental /
anxiety wore off and public confidence /
was restored everything began to read /
just itself and relief came. Just as
there is no explanation for the sudden |
panic, there can be no real explana-
ton of the sudden recovery from its
effects.
Few III Results.
There will be but few i'll results
from the panic. banks and business
houses closed when the stringency was
the worst, are now reOpening and
money is getting more and more plen-
tifuL The Knickerbocker Trust COM
pany, which was one of the first bank
ing institutions to close its doors. is
preparing to resume business and to |
pay all of its obligations A few DAYS
ago the accounts of depOSitors were |
being bought at 20 cents on the dollar
Now they are held at their face value.
IF there is one thing more than any
other, perhaps, that has relieved the
situation, it is the discussion of na-
tiOnal politics which has served the
purpose of interesting the public In
something beside money matters and
for the time being at least did much to
restore public confidence. The financial
trouble has brought storm of indig-