Democratic Sentinel, Volume 17, Number 27, Rensselaer, Jasper County, 28 July 1893 — Page 8 Advertisements Column 1 [ADVERTISEMENT]

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HmSE&Sk G. K. Hollingswotth, will loan you money on personal mortgage, or chattel security, for long or short time st local bank rates. These loans can be paid back at any time, and are more desirable than bank loans, because interest is rebated w e nave unlimited capital and can accommodate everybody. 11.

NO CAUSE FOB ALABM. Comptroller Eckels hes gained the confidence of the country as comptroller, and he is now making strides toward a reputation as a statesman and a financier.— In his remarks at the dinner of the Union league club he most sensibly said: “The condition which confronts the American people is one that deserves the thoughtful attention of every c tizen who ba, a heart the interest of the country.— It isn’t a time of panic, because we have passed the period in onr history when a panic is a possibility, but it is one of slow liquidation, the result of uitdue speculation and unwise financial legislation. Nothing is to be| gained by taking on a fright thtit is unwananted by either the immediate past or the immediate fnture. What the American people ought to do in the midst of the failures that nav e occurred is not to give way to uncalled-for alarm, but to study the character of the institutions whioh have failed, the causes whieh have produced them and the localities in which they have occurred. After such a study let them view the solvent ins*Rations everywhere about them, and the conclusion that must irresistably follow is that the legitimate life of the country is not threatened, but instead will come oui of the present turmoil the stronger for naving passed through it.” Upon whioh the Indianapolis Sentinel comments as follows: ‘lt would be an excellent thing for every man in the country to consider thesa statements oarefully. The first phase of the present movement was a fear that the | government might not be able to maintain the gold basis in the face of gold exports to Europe. That has passed away completely. Today you oan scarcely find a person who has any fears as to the stability of onr currency of all kinds. The foolish talk about depreciated silver coin had its temporary effect, but every one now realizes that silver and paper alike are on a goid basis, and long as the country exists they will be wfi»th gold, dollar for dollar. That foolish craze has passed away and now we are dealing only with its effects. There was an unusual demand fur|money, an unusual call on banks, and a contraction of credit. A few weak banks failed and the reliable banks a enforced to orepare for any call that might be made on them. This precipitated liquidation, and slow liquidation will necessarily continue until the banks feel safe in resuming former business conditions.

It is not probable that this condition oan last long. The drought and failure of crops in Europe have already made a demand on this country that has almost exhausted the surplus stock of last year.— Hay is selling abroad at unheard of pri•ees. Wheat is still low, but is oertainjto advance soon. Our June exports of wheat were feat slightly in excess of last year’s, tout the first two weeks of July shoyr 7,* 812,639 bushel* exported, as against 4,>643,659 for the same two weeks last year. Eastern paper* report that every available bottom is chartered far grain export, and the movement at the pew srop will, therefore, be math mom speedy than usual.— This enport will of necessity mere money tm this country and within five m six weeks, at the outside, there will certainly be a return to easy conditions. This is terms ' * on^ t '° £ 0