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Confidence Beginning to Return at Last to Everybody. FOLLY OF HOARDING REALIZED. Bank Officials of the City Are More Hopeful Than For Many Weeks Past. A Good Bank Statement Probable Next Week. Everybody will be glad to learn that a change for the better has taken place in the financial situation. There is no longer any reason to doubt that the highwater point of distrust was reached a week ago and that the inevitable reaction in favor of increased confidence and a consequent improvement in the general business world has already set in. Bankers and business men of the city are beginning to wear cheerful faces for the first time in many weeks. The probability that congress will repeal the purchasing clause of the silver act has contributed materially to a better feeling among depositors,and the haunting fear of a universal bank panic that has caused so many to foolishly withdraw their hoardings and thus precipitate the very crisis they sought to avoid is gradually giving place to a feeling that the banks can take care of themselves if given a fair opportunity. The result is noted at the banks by a suspension of the miniature runs that have annoyed bankers during the past week. Good Sense Prevails Again. Many people who grew frantic two weeks ago and wanted to withdraw all their hoardings have seen the error of their ways and are as anxious to redeposit as they were to withdraw. The poor bank statement of last week should not be viewed with fear by anybody The same thing has occurred in seasons of unexampled prosperity, and is likely to be followed next week by the very reverse. It cannot be construed as an indication of continued stringency. What the banks need now more than sil ver legislation or any other reactionary measure, Is the confidence of the people. Such confidence is absolutely indispensable. People must release their money. There is no lack of currency in any part of the country, and if all the old stockings and rusty stoves that are now doing a destructive banking business of their own should be forced to suspend and their contents put into circulation through the medium of the old and approved banks of the country. an instant relaxation of present tense conditions would follow. John J. Massey of the People's bank attributes most of the present stringency to this lack of confidence and the inability of the banks to compete with the old stocking. Everybody's Duty. "It is the duty of every man, woman and child to make every possible effort to increase public confidence." he said, today. "The reaction has already set in and, with their eyes opened by the disastrous experience of the past few weeks, I believe that the people will take hold and help us out of the financial hole. To a certain exte t the present depression is due to the silver bill, but that is not the principal cause. It is proven by the fact that since depositors have ceased their runs on the banks a better state of things has prevailed. The people have learned that we can pull ourselves out of the hole if only given a fair chance, and that the worst feature of the situation was the fear that existed in the minds of depositors that the banks could not hold out. I am free to state that there is a better feeling today than heretofore and I believe the worst to be practically over." The officials of the First National bank also expressed their belief that a better state of things already prevails. The repeal of the silver purchase law is probable, and from that fact some encoutagement for the !uture is drawn. About Two Weeks to Wait. "It will take probably two weeks for congress to settle the fate of the bill," said President Littlefield. "After that we may look for a return to our old con dition of prosperity. In the meantime, I believe that a much better feeling is prevailing." The officials at the American National bank express considerable encouragement. They believe that the bank statement next eek will make a good showing in spite of the many causes that still operate against it. Currency will be easier this week that at any ime since the panic set in. Paper is still hard to get and commands
