Evening star. [volume] (Washington, D.C.) 1854-1972, 1876-10-20
The European war Cloud.


That Russia has avowed herself the ally of
Servia, and the possibility that England
will interfere, are naturally matters OF in
tense interest in political and financial cir
cles here as at other parts. Should England
remain neutral there is not an immediate
prospect that all Europe will be shaken by
the tread OF armies, but should that power
decide 10 interfere general war may arise,
wsRed on the one baud by Russia, in alliance
with Austria and Italy, and on the other oy
England end the Turks. A war In Europe
would be the Tevivificatfon of some of our
dropping industries. Thousands OF men now
unemployed would be called into various
channels and avenues of labor. The prices
Of our breadstnfs would advance with the
increased demand and the opportunity to
restore our commerce would be manifold
With the several mighty powers OF Europe
nag would have fun sweep upOl the waters
of the Allan tic aud the Mediterranean. Safe
as 1t would be from the predatory attack OF
rrivateers and cruisers OF the hostile DO yers.
The effect of the war cloud is already
shown In our grain markets. The price of
wheat at the great grannary of the world
Ch1csgo-advanced In single day from 9 1 10
TO 81 10. the vast amount of gold which
would be needed to conduct a general Euro.
pean war, suggests the drain which would
De made upon US, and the sequence is that
this standard of value Jumps from sI.1O To
81 Is, and is now huctuating between those
Dgures, and not only would certain indus
tries. controlled largely by Individual effort
itself would be largely benefited. The war
waged by the United States thirteel years
ago left 1t with surplusage of arms aud
that the opportunity would be given us to
"unload, )" and the national exchequer would
be largely enhanced. This would be
in our political relations it would have
an effect. Sasacious politicians here assume
fnat the benefits to the republican party
would be Unreasonable. III the campaign
was month further from the end than IL is,
q war with Europe would be of special ad !.
vantage to the repu olicans, by raising prices
of produce, thus making the farmers happy.
giving employment to numbers OF Idle men,
who are now Inclined to vote for Tilden be.
cause OF the dull times.
There is only one way which such strug-
gle would be apt to tDjure as, and that would
DO through the probable depreciation Of our
bonds These are largely held by European
investors. II the powers now threatening
rush madly to war, each must provide the
sine VS. with which to conduct it. It is nat
ural to infer that the people OF each country
lies which necessty would eomp ~n tSem To
Issue. and hence our own would not be as
eagerly sought for; but after all, it would
finally accrue to our own advantage, as our
bonds would be placed at home, aud there is
enough OF patriotism left, in those having
surplus capital, to subscribe to every loan
Inc government might see ut to place. The
war demonstrated that fact beyond ques-
ton.
The printed statement that the European
syndicate would decline to take up / To sub
scription to the AZ per cents. Is not regarded
as serious by financial men. The govern
ment can hold the syndicate to It's option of
$40, 0C0, coo, because 1t has the security, in
money value, deposited by Ii to take that
amount. Secretary Morrill, is not at all
apprehensive that even when the option is
exhausted that the same indicate, whether
there be q European war or not, will not be
glad TO take the balance OF the four and a.
halls. But, even If 1t should not, there are
plenty of American bankers who would be
glad OF the chance.