Everything Looks Hopeful

New York, November 17, 1894. Although the iimmedlate effect of tli e bond issue was a realization of piofits made In anticipation of the e vent Wself, íts ultímate effect wfll be to strengthen confidence both at home and abroad. Nobody contradtats the tact that the necessity of the loan Ls a misfortune ; but the determination of the governinent to. protect the national credit by the best possible expedient, until the deeper causes for distrust of our cuirreocy system can 'be reraedied, is the Btrongest sort of argument for confidence. Mr. Cleveland has been lavieh enough in piomises to tliis eaid ; yet his aotion :n tlic matter has not been prompt enongh to meet the preferences of tlie banking cominuni.ty. Europe, liowerer, caji ncw rest assured that I our currency wdil be maintained upon i old basis, and tliis will do much towards overcomfcig the prejudice of foreign liOjd&rs, who have very naluraldy feared tiiat interest and práicipal of our securitics mlght Eome day become payab'e only :m debased money. As for busiiness iaterests, sufticiejit time has no't yet elapsed lo actually feel the resulte of the late eteefóem. Everj'borly now bolieves that silverism, populism uid tariff ag' t:tion are questioais of the past ; or'r at least that the country is assured oí a rest troon sueh diisturbances for somc time to come. Industry will thus receive encouragement towards renewed exertion ; and whiíe f rom the nature of the case recovery must be b'ow, 8t will be certain and yastly more substantial than could have lieen possdble except for the popular verdict oi November Cth. One of the most satisfactory features of the tornes is the universal aversión disp.nyed to ony revival in the fchape l oí a "boom." In soane quarters there is a dispositioai to exaggerate the eifect of Cow proces foir wlieat and cotton upon the agrdcultural interests. It is overlooked that both wheat and cotton can be radsed much more cheapiy than tormer'.y, and that it costs leS3 to handle and transport these artitcles than ever before. As for tlie ndusti'iaJ situation, that :s hopeful. Our textile milis are not fuLly emplóyed, but they are turniing out a better product at bett-er profits than six months ago. Ilie boot and shoe trade has been very active in low-pTiced goods for several months. The iron trade revives very slowly ; still there is an uñúsual degree of confidence in the future, and many of the western estal;shment-s whlch are most favorabdy circumstanced as to locality and plant are runnimg close to their full capacity. The Stock Exchange is not b'iaid to all these factors. Investors show general coníidence in the future, and while often not able to buy, stubbornly refuse to sell ; in fact, the teaiacity with which stocks and bo.nds are held is unusual. lioney is plemtiful and easily obtained for Enterprises oi merit ; but railroad stocks are naturally neglected while earnings continue so poor. Better business, however, will soon result in improvemeint in this respect ; henee raiLroad Bliares will quickly sliare aiid possibly antjeipate the brighter prospecte now en view. If "M anchester did not ueglect to for ward her returns," to the county clerk'8 office, it must have been her supervisor who negleeted it, for some one did neglect it. And the neglect caine very near costing the county two day's session of the canvassing board. Had it not been for the promptness of Couuty Clerk Brown, Such would have been the result. Such a result as that would have sent a thrill of horror through the veins of the extremely ecouomical supervisor of Manchester. At least he seems to preach econpmy - for others, we shall ! show up i little later on liow he hiinself pratices what he Dreaches. The November elections are over, the critical stage in the history of ATnerican industry has passed. God, in His infinite wisdom, bas not seen fit to give success to the Free Trade party- it retires from the political field bleeding, sore. Mr. Wilson and Free-Trade, the President and prostration, Democracy and destruction- these fearfnlevils have culminated in an uprising of indignation such as the country bas never before experienced. American labor is not goiiig to be starved by the Democratie party, nor are American manufacturera ready to turn over their work to the British. The rapidity wiili which these evils were culminating under Democratie control is happily cbecked, and the work of restoring the fabric of Protection will be pushed forward as fast as the barriera set up by the destroyers can be removed. The difflculties are manifold since the judicial and Executive branches of thé Government have not, and cannot for two years more, be wrested from the eneniies of American industry, but every true American will thank God that the crisis is ended, and will pray that no further mischievous legislation be enacted. - American Economist. There is a scheine on band by the si! ver senators to either shape tlie financia! policy of the republican party or ruin that party. Senators 8 te wart and Jones of Nevada, and Pettigrew, of S. Dakota, are the schemers, and they hope by putting the presidential bee in the head of Senator Bon Cameron, of Pennsylvania, to secure his aid and cooperation in the scheme. These men will do neither one. The republican party has fixed principies, running on censervativegrounds, that can never be crushed out by either extreme gold advocates, or extreme silver advocates. Both metáis are needed as a circulating medium in tliis nation, and both metáis wiil be used as long as the republican party retains its senses. The ratio will be sucli that neither can take the adyantage of tlie otherand an American dollar, whether gold, silver or paper, will be recogilized as a dollar anywhere and everywheTe. 'i lic rcpulilican press of Michigan can not enter any too inany notes oí warniug lo the coming legislatura. That body has it in its power to continue the line republican majority in this state, or it can turn tlie state over to the enemy, perhaps. The people demand a short, busiuess-like session. Sixty days ought to be a sufficient length of time to do all the business Michigan wants done. The fewer laws passed the better. We have too many laws now on the statute books. It would be better to wipë soine of the "dead letter" laws off than to put any more on. Then it should careful about extraygance in taxation. Enough funda to economically administer all the charitable and ed'ucational institutions of the state, and pay the current expenses of the state goverument - and then- and then adjourument. Make it sixty days, and no jangle over the U. S. Senatorships. That will be business ! If an o!d mercantilO house should borro w a large sum of money, and ] before payAng even a year's interest om ilt, Bhouud be torced to make another large loan, the business of thé {irm would be regarded with suspAcdOon, especially if the money were used to pay curre-nt expenses. Tliat is precisely tlie co'iiditioü of the treasury. Borro wing inoney he'.ps the bankers, who ha' more th-am enough idle surplus in Xew York, wliich they have been aaixious to loan at 2 per cent. to take up all the bonds offered by Mr. 01eTeland. It caá well be understood how the bamkers' newspaper organs sJiould rejoice at this opportunity to iniest their id'je surplus at a larger rate of interest. But how this will help the people who have to pay $25,000,000 in interest in the 10 years this Joan will run, would be dSfficult to discover.- Philadelphia Press. The money question ; the silver question ; the question that now engrosses the greatest amount of public attention, wlll have to le settled as all great questions have been settled for the past half century nearly, by the republican party. That party has liad sufficient wisdom in the past to settle all the great questions that have arisen in the progress of this republic, and settle theni right. "We have full faith that this same party will settle this question of what shall eonstitute the circulatiug medium of the country right, so that the greatest good will be secured to the greatest number. The history of the past gives us that faith. There is the requisite amount of brains and patriotism in that party to rise above all partisanship and settle this silver question in sucli a manner as to injure no one, but benefit every one. What course the present congress will take in its coming session is enigmatical. There is no telling about it. But it is safe to believe that it will cling to its record and not accomplish anything.