Rensselaer Republican, Volume 27, Number 38, Rensselaer, Jasper County, 16 May 1895 — WASHINGTON. [ARTICLE]

WASHINGTON.

Washington dispatch: Comptroller Eckels reports a healthy improvement in business in all quarters, a condition that is reflected in his advices from the banking interests in every State in the Union. Evidences of revived activities are not confined to any line of business or any dozen or twenty lines. They are general and far-reaching, as reflected in the demands for banking accommodations. Tens of thousands of men who have been lying low during the period of depression are coming out of retirement ready and anxious to embark in new enterprises or extend themselves in fields already occupied in perfunctory, half-alive fashion. The inquiry for funds is especially active from manufacturing‘interests, thus confirming what has beeu said about a general revival in the industries —a declaration that is often received with open skepticism, but which, nevertheless, has substantial foundation in facts. Merchants are preparing to spend money in enlarging their trade and in increasing their facilities in every way. Construction projects that have been held in abeyance for' a couple of years are being dragged' into light. A Washington special says: “Treasury officials profess to see something ominous iir the purchase of the output of the gold mines of the United States by brokers representing the Morgan-Rothschild bond syndicate, which is accumulating American gold at the rate of $2,500,000 to $3,000,000 a monjb, which represents from 65 to 75 per cent, of the total production of mines of this country. It is taking practically all the refined gold bars which are produced by the twentyfive or thirty private refineries in the East. The syndicate is under contract obligations to maintain the Government gold reserve until the conclusion of its $62,000,000 bond deal. The Government is absolutely at the mercy of the syndicate. The administration has contracted to sell the syndicate any and all new bonds it may issue between February and next -October, no price being named. Those who are familiar with the details of this last enormous bond transaction say the syndicate will come out $8,000,000 ahead, net, and the temptation to engage in another colossal operation of the same sort is apparently too strong to be resisted. The syndicate is beyond any question getting possession of all the gold it can. When the emergency arrives the Government will find its source of supplies dried up completely.”