New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-07-25
BUSINESS NOT IN D.NGUP.

Last week closed with unusual excitement in
the stock market. 1t cannot be said that the
uniaVOrablc news rs To the Presidents coudi-
ton, though greatly exaggerated in Wall Street
WAS in amy proper sense Il reason for such
decline a. occurred. For some weeks Il DOW
crlm combination Of spectators has been
LahorinE to dcprcSS prices, and with con~id-
cradle success Accounts have been widely
circulated regarding the crops and the relations
of the trunk lines which, though i'm some re
spccts exaggerated or false. had enough basis
Of truth to cause considerable apprc-
hcnsion rs to the future of values.
The most powerful holders of stocks.
whether they share these apprchcnSionS or are
merely permitting the market 10 yet oNcrsold
rs Il basis for IA new advance, have made very
little resistance to the depression, and some of
Them have materially aided it. These infu-
cnccs had brought the market into such a
condition that a Vi,0rous attack, upon almost
any protest or without any, was likely to
cause some decline, and the sudden change in
the Presidents condition gave a prcicXt of
especial effectiveness. The market was vigor-
ously attacked, and something very like IA
panic of weak holders followed.
Whether spectators gain or lose, the real
condition of ;he country and of business is not
such as to justify any apprehension. The
Presidents death would be Il great calamity.
but it would hardly affect the public credit
or the financial situation in the least degree.
The close and friendly relations which have
arisen between the Nice-Prcsidcnt and the
heads of departments make ii exceedingly i'm
probable that the transfer of power to him would
involve any change in either of the depart
mcnts, Ivy which financial or business interests
hp ntl cd :
of such rupture in the Republican party as
might raise doubt of its continuing to hold
power. Approximations which were natural
when the President was first wounded have
now become wholly unreasonable, either be-
cause of changes in the actual circumstances
or because of better knowledge OF the facts
Turning from the political to the industrial
elements of the situation, no one can find
cause for apprehension in that quarter. The
labor OF the country is well and prohtablv
Employed and there is at present less
than usual friction or antagonSm be-
tween employers and employed The
people are enjoying nWontcd prosperity, and
production in every branch Of industry is adj
vancing BEAUTIFULLY. If it be thought that aa,ri-
culture will suffer because Of the partial failure
Of the wheat crop, il should be remembered
that the decrease in quantity, according TO The
estimate of the Agricultural Bureau--the largest
that is entitled to amy authouty-is Il per
cent, while the price mt Chicago has ALREADY
advanced since February ! from 9S cents 10
81 | 5 per bushel, or over 20 per cent Thus,
the farmers will probably get more money from
short crop than they could have realized
from another as large as the unprecedented
crop Of last year. The yield of cotton bids
fair to be larger than ever the consumption
of cotton IN American mills this year has been
aboat 100000 bales larger than in any pre-
vious year; the production of iron and coal is
the largest ever known, and the consumption
of such articles AZ sugar. tea and coffee, which
is accepted by all economists rs a sure indica-
ton of the general ro,prrity of the people,
has been larger during The fiscal year inst