European Countries, Including

land, are giving encouragcment to 1 resideut McKinley's bimetallic cominissioo and warranting the hope that it will be successful. The currency troubles with which the country has had to deal in the past few yeara has created sich a demand for a general revisión of the System that President Mekinley's wish for a special commission to investígate this subject and report, has been generally commended by members of all parties. T HE fact that the eastern business firras have authorized their representatives in Tsebraska and othcr Mississippi valley States to resume loans on farm property at low rates of interest is going to be somewhat embarrassing to Mr. Bryan in nis proposed stumping tour of the western states this f all. The reduction in the number of failures gives another evidence of returning prosperity. They were 20 per cent. less in last month than they were in June 1896, and 25 per cent. less in liafoilities, while the liabilities were only one-half of those of June, 1895. The above relates to manufacturera, wnilo the general statement of commercial failures also inaicates a falling off in uumber and in liabilities. The world's stock of silver money is now, according to the New York 1 nal of Cominerce, a trille over 4 biilions of dollars, of which $3,533,000,000 is full legal tender. Of this amount no less than $2 498,000,000 has been coined Bince 1873, and all of this eoinage but about 15 per cent. is full legal tender showinpr that the silver money of the world has been much more than doubled since the "'crime" pcriod, and the proportion which is full legal tender has been well maintained. The gold Detnocrats are organi.ing tickets and campaigns of their own in all the States in which there are to be important elections this fall, and it is reported that a very much larger percentage of the Democracy will support thcir tickets than was the case last fall. Many Democrats who feit bound to stand by the national ticket and platform lust year are now co operatiug wlth thesound-money wing of the party and in many casea, notably in Kentucky, the county conventions of the gold Democrats have shown a larger and more enthusiastic attendance than that of the silver wing of the party. Tom Watson and his associatesput an end to further prospecta of fusión between the Populist party and any other political orgranization, at their recent Na8hville convention. ïhat convention, which distinctly doclared against what Mr. Watson describes as Hessianism in politics" represents a great majority of the Populista of the country, and it may safely be asscrtetl that no i national convention of that party wül ever again be able to repeatthe 1 formance of 1896 and make the Populist party an attachment to any other political organization. The fact that the reduction in coal ] minera' wages imraediately followcd the reduction in tarifT, makes Mr. Bryan's Speech in Congress in 1894 on' that subject, very intcresting. In that speech he demanJed the cntire removal of the duty on coal, saying that "the duty on coal is indefensibie." Coal duties were reduced 36 cents per ton by the Wilson law, and a reduction of from 2ü'to;30 cents per ton in wages followed. If Mr. Bryan's advice had been folio wed and the entire "ö cents duty per ton removed, it is probable that the wages would have been still further reduced. Between the prospectivo increase in deraand for farm products In the manufacturing districts and the certainty that there is to be an unusual demand abroad, the prospecta for the farmers are unusually bright. Thero S is every reason to believe that there will be a prompt renewal of business activity in the tuanufacturiug difltrlcte alter the taritï bill becomss a law, the olTectut which will bo feit in tho increased demand for farm produetions, while the advices from aluoad indícate an unusual shortage of crops in nearly all the great grain-producing eountriea oftheworld. Reports from Australia and tho Argentina Hepublic indícate that their erop prospecta are not up to the usual standard, while India, it is believed, will " scracely supply more than roquired for herownconsumption. ReDorts fromllussia, Franoc, Hutigary, and Gcrmany point to a large docroaso in the whoat harvest and mako it probable that those countries as well as many others will be compelled to cali upon the United States for grain supplies for the year. These reports, coupled with the well-known fact that the wheat stock of the world araounts to only about 75 ïnillion bush. els, one of the smallest supplies at the correspondías date for many years, makes it almost certain that the deraand upon the farmers of the United States, both froin abroad and trom those whose condition is to be improved by the revival of manufacturing industrie, will be unusually great and result in a prosperity similar to that which existed in 1879, a period of revival succeeding the great panic. Happily the farmers of the United States seom likely to have an unusually largo erop of wheat with which to supply this demand. "Bradstreefn," in ts issue of July lOth, indicates already a marked advance in the priees of a large number of farm stapies.