Show THADi 1KOSrnCTH Latest advices from London tell of a slight appreciation in tho price of silver Tho state of uncertainty with regard t to war matters Interferes with business and has tomiwrarily at least seriously affected af-fected all speculative ventures American securities so largely held abroad have I recently been thrown upon the market I and returned to this country Should 1 the volume of returned securities continue con-tinue it will involve an exportation of f gold on our part or a large increase of exports The certainty of war will Insure such exports It will also tend to a movement of foreign capital in tho direction of investment in American productive enterprises Speculative dealings in stocks I will bo replaced re-placed by permanent investments in real estate mines and other productive industries in-dustries to the great advantage of this country Tho excess of exports over imports last year dropped down to a dangerously Email margin The balance in our favor was 00000000 less than in the year previous The large increase of standing armies and consequent outlay for equipments and munitions of war will oven in the absence of actual hostilities hos-tilities increase the demand for tho agricultural agri-cultural and manufactured products of this country From fifteen to twenty millions of able bodied men drawn largely from the productive classes in Europe and idling away their time in military camps and fortres es must be fed and clothed through the extra labor of a lessened number of producers This country can feed the world and supply the failing treasures of all Europe t with the precious metals Their loss is our gain though the world is made poorer by the enormous enor-mous waste of Will and preparation for it on a large scale Tho only four I i is that tho contagion of war may seize on our hothoaded legislators and demagogues dema-gogues and we Ix 1 swept into its dextrin live imielstioui |