The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-08


pose upon themselves and their fellows continu-
alton OF high rents and deprive many OF their COM
rades OF the much needed work required for the
support OF their families. 1t is difficult TO ind
remedy for this while the trade unions continue
10 be ruled by men who are ignorant OF the first
economic principles that govern
THE RELATION OF CAPITAL AND LABOR,
even 10 non-comprehension OF the simple law OF
supply and demand But aremedv might be found,
perhaps, II operatives employed on buildings were
engaged by the Job or for some certain period
the wage might Sill be by the day-with some
OF contract on either side. II seems certainly to
be ioresaadowed every day more sharply tnat IN
ns q Ss specie cs
and labor, which might, however, be avoided II
intelligent counsels prevailed In the labor unions
and the issue involved in the changed condition OF
things were approached In spirit OF compromise
LABOR UNDOUBTEDLY HAS IT'S RIGHTS,
waSa Wse So s mas tSs
ence between the two, however. being SO great In
their respective power for obtaining mastery that.
employment, capital may DEPRIVE labor Of ali or
nearly 3d. 1t would be, therefore, wise Tor labor TO
prepare TO meet capital In q conservative spirit.
Capital itself Is conservative and Win not be the
first to provoke conflict. " viii simply withdraw
rights, but desiring and seeking fair alliance
with capital, can do much in the future to stlmn-
late revival OF activity In this market. There
can De ssh &@Nt
NO GREATER FALLACY
than the assumption that capital and labor are in
0Aa<oSS
labor proyokes or sets up antagonsm, az in.
vested capital is In reality interested In the
Of labor. not IN its deterioration. AS
Tor instance, . man who has expended or In
vested 10000 IN the construction Of building
from which he requires o certain rent to make IL
profitable, Is not likely to enter into conspiracy
with his neighbor TO cut down the price OF labor
ing FOR 900 or $40 900 and undervaue him. so,
In building operations at least, and 1t might be
similarly proven In other enterprise, capital and
PARTNERS, NOT OPPONENTS,
having joint interest IN the preservation OF
values. Thus, when capital says TO labor In re-
spect to building investments, as IT does now. ut
don't pay" it Is well for labor TO take heed and
price Of labor and the uncertainty connected with
its use because OF the danger OF strikes and this,
too IN the face OF falling rent market labor
OF It's relations with capital on the basis OF CON-
promise than by persistent refusal to acknowledge
the situation drive capital altogether out OF the
market. Although this Is the season for
SUBURBAN SALES,
there 10 little to be SAID respecting them Auction
be noticed there is no enthusiasm. And how could
there beS People who might invest In this descrip
who have the money prefer to hold on to 1t, not
knowing what may eventuate. AS the larger cap
italists have shown their timdty, caution and re-
serve. and even our chosen representatives in the
metropolis have made merit OF prOclaiming their
lack OF faith in its future growth and prosperity,
what can we expect OF the smaller capitalists,
whose little boards represent years OF toll and saw
ing, OF selfdenlal, patient labor and earnest en-
deavOr That these lose confidence IN suburban
growth, when the others proclaim their disbelief
in metropolitan growth, ts surely no wonder.
Rather
LET Us REJOICE
that SO many there are who value the opinions Of
these representatives at their true measure, pos
sessing intelligence enough to build their faith in
the future OF both city and suburbs, not upon the
fpSe dirit OF any individual, but upon the opera
ton OF causes admittedly beyond the control OF
cliques, whose effects are but the exposition OF the
inevitable law OF development The current sales,
both within and outside OF the city, are without
special interest, nor Is there ANYTHING in the an.
nOuncements calling Tor particular notice at the
present time. 1t IS now probable that
WITH THE ADVENT OF THE HEATED TERM
interest in tins market will wholly cease until the
fall. Assuredy this may be predicated OF clty
realty, while suburban property may maintain q
SpasmCdic activity, with results very dlBprOpor-
tionate to the means taken to secure them. 1t
may be said, however, as further evidence Of the
correctness OF the views heretofore expressed con-
cernlng values, that such sales Of country property
7 as have taken place this year have shown more
Intelligent understanding OF what constituted
market exhibited more enthusiasm. Thus
IN NO CASES ExTRAvAGANT PRICES
have been paid Tor lots that are likely here
after to be sold IN bulk by the acre, and
tine prices pa6 nave ,S Seen ay
sold. Thus, It will be seen. although without
activity, we have now, at the close of one Of tue
most depressing seasons that New York real estate
ing upon foundation OF solid substantial values
with clear understanding on the part OF our
people OF the conditions past, present and pro
spective affecting these, and und0ubted evidence
10 the past years history Of the superior character
OF realty as safe investment In spite OF the
drawback OF an imbecile municipal administra-
tion this IS most satisfactory basis for new de-
parture In the fall