The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-30

Can uuonce, we READ In ltS name the type
Of reputation. buying and selling justice, OF
shameful violation of vested and corporate
rights, of the worst excuses of the worst days
OF the Tammany Ring. These are the in
terests that large part Of the business in
Wall street represents to-day. Who could call
purchase of any shares of this kind a
genuine transaction? What prudent bust
ness man can feel thatin buying one of these
shares he makes an honest purchase? The
men who control these speculations on both
sides are men whose names have become in
famous in the history of American business
and finance. 1t would have been far better
for this government to have paid five
hundred thousand dollars to foreign
capitalists than to have had many things
done by the men who have now famed
Wall street into fury, and who would have
us believe that this feverish excitement of the
stock gamblers is an evidence Of healthy
trade.
money and wish to invest it in prudent way
is to avoid Wall street, or rather TO avoid
dealing in those shares which now represent
so large part OF its business. If cur ciii-
zens desire to make investments in stocks the
list is filled with interests they may cheeriully
accept-government bonds, bonds of New
York city OF State, trust shares, first mort
gage bonds, shares in old established and pru-
IDENTIFY managed railroads, the bonds Of most
of our States-these ais investments that
may be accepted tomorrow with per-
feet confidence. If We coul2 sec business
transactions like these in volumes as large
as those which we record to-day We should
feel that we were in the full tide of That BUSH
ness prosperity which we hope TO SCI before
the Easter holidays have passed away. We
sincerely trust the people will leave
the spectators to fight this battle out
alone. So far as "bulls' or ''bears' are
concerned we may say, like Iago, that
whether Cassie kill Roderigo, or Roderigo
kill Cassie, or each do kill the other" 1t
concerns the public very little. So long as
the people keep out of these speculations it is
of comparatively minor consequence who
rises or falls. These men who reign para
mount in Wall street are gamblers, enemies to
stroy each other we can feel about them very
much as we feel when we read of two
Indian tribes warning in the country of the
Black Hills. The danger is, however, that an
excitement of this kind nursed, as it is, with so
much ability and address and sustained by so
many fattering stories of possible gain in the
rise of stocks, will induce many of our people
to rush in, hoping to share in the spoils. The
aim Of the stock gambler has always been to
make the people his victims. The part Of
wisdom, however, is to look upon the excite
ment in Wall street as simply wild, scramb-
ling tussle between gamblers, and to avoid tine
''shares'' in which they deal as they would
the Big Bonanza stocks Of Nevada, to find
other investments in genuine property, and
not to be led into transactions which will be
of advantage to no one but the gamblers them
selves, and which may, in this critical period
of our business success, lead to reaction
that will be more disastrous in it's effects and
lasting in its consequences than any panic we
have known since the war. There never was
time when prudence was more necessary
than now.