The American-Spanish war; . 00 and had beenincreased to $95,900,000 at the end of the year. During all the course of the war it was the constant effort ofthe Department to do nothing which would interrupt thereturning tide of prosperity. Never was there, at any timeduring the struggle, any appreciable stringency in the moneymarket ; in fact, for the whole of the year 1898, no alarming up-ward tendency of rates was noticeable, except immediately suc-ceeding the destruction of the Maine and during the period ofuncertainty which preceded the declaration of war. Even the WORK OF THE TRP:ASURY DEPA
The American-Spanish war; . 00 and had beenincreased to $95,900,000 at the end of the year. During all the course of the war it was the constant effort ofthe Department to do nothing which would interrupt thereturning tide of prosperity. Never was there, at any timeduring the struggle, any appreciable stringency in the moneymarket ; in fact, for the whole of the year 1898, no alarming up-ward tendency of rates was noticeable, except immediately suc-ceeding the destruction of the Maine and during the period ofuncertainty which preceded the declaration of war. Even the WORK OF THE TRP:ASURY DEPARTMENT. :i9i certainty of war itself, with all its disturbing Influences, fur-nished only a basis for improving conditions ; thus, while thenation emerged from the conflict victorious upon sea andland, its credit also had been preserved, nay strengthened, andthe business of the country had expanded rather than dimin-ished. It will not often fall to the lot of any nation to be sosingularly fortunate in any of these
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