' 1 * 'Cbc Conservative *
DESIGNATED DEPOSITARY OF THE UNITED STATES.
National Bank of the Republic
OF CHICAGO.
CAJPTT.AZ ! , , OJVB MILLION DOLLARS.
JOHN A. LYNCH , President. W. T. FENTON , Vice President and Cashier.
J. H. CAMERON and H. R. KENT , Asst. Cashiers. R. M. McKINNEY , 2d Asst. Cashier.
THE SITUATION.
Financially and commercially , the
United States is in the most strongly
entrenched position it has over had. It
has thoroughly emphasized the fact that
financial vagaries have no standing in
its financial policy. By taking the
stand it did at the national .election , it
has enhanced its credit to an extent that
is almost impossible to measure. Dur
ing the last few years previous to the
late election , it had gradually worked
up to a point where it stood among the
foremost of the creditor nations of the
world.
What a few years ago would have
been considered the wildest kind of a
wild dream the coming of foreign na
tions to us as borrowers had been
made a reality a score of times during
the year immediately preceding elec
tion. Oar manufactories were rapidly
securing supremacy in the markets of
the world. But over all this prosperity
all these immense strides made in the
financial world , hung a cloud of uncer
tainty that uncertainty being the fear
that American citizens did not know
that the continuation of their nation's
credit depended upon their adherence to
their sound financial policy. Not only
was this fear current abroad , but it ob
tained credence at home as well. The
election came with its splendid results.
The immediate effect has been to place
the United States much further forward
in the van and the natural outcome will
be that soon no one knows just how
soon ( but it is inevitable ) the United
will stand singly at the front , none
ahead of her , pre eminent as the great
est financial and commercial nation in
the world.
The most immediate outcome of the
election was the re-establishment of con
fidence. This confidence has most ex
tensive ramifications. It gives assur
ance that business and corporate inter
est will not be destroyed in an attempt
to overthrow evils that have grown up
in connection with their growth. It as
sures the continuation of the present
sound system of measuring money
values. Power of money in use will
not be impaired. It has settled , for a
long time to come , the possibility of the
masses being betrayed by false leaders
into arising against the classes , so called ,
and , as great as any effect , it thoroughly
establishes the fact that no limit will be
placed on America's field of commer
cial conquest and that the flag held
aloft by a strong government backed by
a unified nation , will protect the Ameri
can merchant and manufacturer in any
quarter of the two hemispheres. Trans
cendent opportunities open up before
the American merchants and manufac
turers , and through combinations of
capital they have power , as well as the
opportunity , to control the markets of
the world. They will take advantage
of this opportunity with the consequent
result of adding largely to the manufac
turing capacity of the country and that ,
of course , means work and wages for
everyone who desires it.
Already have many thousands of men ,
out of work , received employment since
election. Hundreds of closed factories
have resumed operations. The effect of
the election was electrical on business.
The great buying power of the country
has been released and general trade at
once felt the stimulus. Flans are mak
ing for extension of operations in all
lines of trade. A better feeling is ap
parent in the iron trade , a great value
of railroad equipment is being ordered ,
and this is only the beginning. Money
is working somewhat easier. The secur
ity market presents a remarkable under
tone of strength. Stocks depressed by
the fear of another result of the elec
tion , have rebounded to their normal
condition and this fact , of course , has
brought large profits to the holders of
such securities. ,
There will be no boom. Some few in
dividuals will no doubt endeavor to
create one , but the great money powers
are thoroughly grounded in the know
ledge that a boom of any sort is thor
oughly undesirable and they will un
doubtedly stamp out anything that
savors of wild speculation. The coun
try will enjoy a steady financial batter-
ment of all its securities , with the.con
sequent results that we shall enter on an
era of prosperity that will permeate every
home in the land.
Among the stocks usually dealt in on
the exchanges , railroads were in much
the greater demand and many of the in
dustrials followed a good second. Penn
sylvania and Atchison were favorites
and St. Paul had many friends as well.
The sales of all kinds of stock in New
York since election have in' quantity
broken all records.
The treasury department statement
shows that the bank circulation increased
about $4,000.000 during October. The
increase during August and September
was only $1,700,000. The supply of
paper money in the general fund of the
treasury and now consists of $10,480,000.
United States notes and $3.240,000 silver
certificates and this is subject to further
depletion by the deposit of gold coin
with the sub treasury. By New York
banks for payment at interior points.
Money on call sells for 3) < > to 4. Time
money four months ,
In Cleveland , which is headquarters
for a great many traction , telephone and
mining investments , feeling of great
elation resulted from the election and
much money that was tied up in banks
has been released. On the stock ex
change there was an unprecedented
week in point of sales. Thorough con
fidence has been restored here and the
general welfare seems secure. Finance.
We Te&ch
wherever the mails reach
WhatTho International Correspondence
Schools , Scranton , Pa. , are doing :
First Teaching inechaiiicH the
theory of their work.
Second Helping misplaced people
ple to change their work.
Third Enabling young- people to
support thciiiHclvcH while learning
SoO,000 BtudoiiU and graduates in Me
chanical , Electrical , Hteain , Civil
anil fllinimr L'nginecrliiK ; Architec
ture , ptc. when writing state subject in
which interested.
International Correspondence Schools ,
KiUblUhcd 1801. Capital $1,500,000.
Box 1296 , Scranton , Pa.
