New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-05-08
SO,fF EFFECTS OF THE WAR.

Tie corn dealers Of Philadelphia should learn
70 Dnt no trust in princes or railway kings.
They had profound faith in the pacific profess
sion. e the Car of Russia, and concluded that
the protocol meant peace. They also had
prnfor1d faith i'm the assurances of Col. Scott,
who Ccclarcd that railway rates to Pmladc-
phia ,loud re as low as those to any other
citv and in ,hc similar assurances of Mi.
Vanderbilt to merchants of New-lork, and
therefore logically concluded that a railway
war was inevitable, with lower grain rates
and cheaper grain at Philadelphia. Accord
iugly they proceeded TO bet their money on
pc,ce in EuroDc and war between the railroads.
AID the result is peace between the rail
roads and war in Europe. The dealers OF
PHILADELPHIA sold April and May corn to the
extent of 300. 900 bushels or more, mt about
80 cents and they are now engaged III trying
TO hnv The corn at 20 cents y considerable
number of vessels chartered 90 move the April
and Nav corn which people sold without being
ahle to get it. are putting in demurrage CLAIMS
Involving heavy loss 10 the merchants
In brief Philadelphia is badly " corIered,"
but without any effort ON The part OF anybody
to produce the disaster. Perhaps it is the first
time on record that an entire city deliberately
"c0rncrcd - itself
Some mild reflections OF n personal type
might bo admissible on this occasion. We
might observe that if Philadelphia had more
faithfully and believmgly read The tribune
the Quaker City would have learned that
The truuI, roads were in such financial
stlaits that they could not afford to keep their
promises ard were obliged to fix up some COM
u kaI Iha
spite of the compromise, New-York Central
stock dropped To 50, and PENNSYLVANIA to
30as, sufficiently indicates what would have
happened had the roads commenced the war
which trustfu Philadelphia anticipated. More
over We have steadily discouraged hope that
the Eastern question would be settled without
resort 10 arms and have given many reasons
for believing, as Turkey evidently did, that
Russia was determined 10 make the most of
It opportunity, no matter what concessions
might be offered.
But there are considerations Of wider reach
which this incident suggests. II Is true, as we
suggested weeks ago, that the mtcrdcpcndcncc
of commercial nations has now become 80 great
that the Porte cannot send its Mussulmans to
face Russian guns without bringing disaster to
many pious Christians from Maine to Cali
fo1nla. Philadelphia happens to get Int I'M
necessarily hard, but there are holders OF
stocks all over the country who will suffer III
greater or less degree because Of the war
Western farmers would reap q great harvest,
il they had ON hand large stocks OF grain,
but unhappily for them, according to the best
opinion. the stocks remaining in Western gran
aries are unusually small. The sharp advance
of prices will stimulate All unusual production
this year. not in this country only but IN
others. it IS by no means clear that the great
increase of crops may not 81 deprrsS prices as
10 bring disasters upon those who hope 10 reap
the largest profits, and the wisest advice Chat
can be given to the farmers probably is to
limit their acreage to reasonable increase,
with especial reference 20 their ability to hold
q surplus for a fuil year or TO sell at lower
rates than are now anticipated.
There is also u danger TO our manufacturers.
Prices are likely to rise abnormaly Tor q time
N least. and the demand from foreign coun-
tries nav be checked 1t would be great
misfortune if our Industries, weakened by
long peiiod of stress, should hastily neglect the
careful economy in production Thich has re-
Gently promised such good returns Serious
disaster might follow, which the manufactu-
ing interest may avoid by especial caution.
For in Il time of great and unexpected tiuctua-
tionS in demand and in value, greater caution
than ever is necessary.