People's Pilot, Volume 3, Number 47, Rensselaer, Jasper County, 11 May 1894 — A WALL STREET VIEW. [ARTICLE]

A WALL STREET VIEW.

Mr. Henry Clews Thinks He Sees Light A head but a Southern I’aper Is Somewhat skeptical. Mr. Henry Clews, the New York banker, is satisfied that we have reached the bottom and that the country is moving upward again. He says that our people have reached the point where they refuse to be scared any longer, and that recuperation is under way everywhere. The shock from the fall in silver and wheat is over. The debtors have suffered the worst that was in store for them, and the time has come to go in debt again; and we may expect to see good marketable properties soon become scarce, Mr. Clews says: “Those who hesitate to launch out into business undertakings now will be run over by competitors. It is a survival of the fittest in the coming contest It is not going to be in the future scarce money, but it is going to be scarce securities and commodities In other words, not enough to go around to meet the coining demand. Wald street»ffices are bare of stocks; merchants shelves are bare of goods; manufactures are bare of raw material. The next panic in this country will not be on the selling side, but on the buying side, to pick up everything that is cheap. Stocks will improve in prices by degrees hereafter, because there is more money in Wall street than stock.” The banker predicts that silver and grain will continue to rise for some time to co>me. We must take his predictions, however, with many grainsof allowance. He is a gold standard man, and views the conditions of the past two years with th<? greatest possible satisfaction. It may be that he is talking tw his eastern friends. Time will be required to test his views, so far as tine south and west are concerned.

In this immediate region, the hard times are practically over, but we owe no thanks to those who are of Mr. Clews’ line of thinking. Our people, by the hardest work and the hardest economy ever known in their experience, hare held their own, and are now on rising ground. They have not changed their ideas of what our policy should be, and tliev will continue to fight for bimetallism.—Atlanta Constitution.