New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-02-26
CONTINENTAL SPECULATION

from LiHch1rODO
The sudden commercial activity OF the eastern
Continental naliOns Is one of the most suggestive
signs OF the progress of the world and 1T presents
some remarkable pha eS OF business romance NOT
so many years ago tic greater part OF Europe was
still living alow, while the riches OF the East were
being leisurely Jpi0ite, chiefly Ivy nations OF
hereditary traders. who confined their commercial
pursuits to their group o. colonies. The Con
tluent was like unlmprOyed farm. partially cuItl-
waited with primitive simplicity by men who some
time, saved but seldom YentuIcd. The Scanty SuT-
Plus of produce was almost worthless for want of
Communications and the use OF credit was almost
confined 10 Governments That spent what precari-
Gus accommodation they cOuld obtain on wastciul
wars and the redemption OF territory. The rail
ways have changed tuat. People VINO never stirred
from their homes have taken 10 travelling ana
picked up ideas. New wants have been created and
new ambitions awakened and The example of rapid
money making has proved contagious There his
been an energetic propaganda by AhglO->aA0h pro-
moters whose success has inspired teVeilsh Jcal-
ousy, teHpting the sieady-goln9 naslEes TO 'uil
SPECTATORS and take enterprise out OF the hands OF
the foreigners. Notably our Oh friends the jews
have come to the front, W0rhlng lOgeiHer, as -
lhelr III bit with the UnanImity when Il the char
acteii-tc of their race, md winch has lnclt some
Of Their Christian fellow cOnurrynen to fresh ont
breaks OF persecution. Great Powers. IN splic OF
their CRUSHING armaments. have found means TO
subsidizc useful pnDlc works, which nave proved
sufficiently remunerauye 10 encourage them III
similar undertakings. The imposing ARCHITECTURAL
proportions of the new BOursrs Of Berlin and
vienna are the outward and visible signs OF
financial revolution hat has Subycrted social Tca
tons and cvclled the old landmarks. banking
urlus that have risen from lnc0nSidclablc begin
niugs form syndIcate5 to HOat promising Schemes
lrLdesmen, whose fathers lived ia dtugy apart
mcats over their unprctendlHg SHOPS nave pushed
their connections, put plat"-giaS7 fronts TO their
establishments, and gone To lnhiblt handsome
villa, IN the suburbs; but nevertheless hnd money
somehow 10 Inc turned over Oa the stock Exchange,
Nay, tnc great iand'd nobility VINO uSed to wrap
themselves III the pride OF Their caStc, leaving ne
mana. clucut OF their properties 10 Iand-steWaidS
and MAYORS OF the household" no longer stand
aiool froln the yulganty OF tiaiic. f1nceN ana
archdukes have set the example oi eithtr transfer
ring great stretches OF country 10 Iihu so tlcS Vi
grating CONCESSIONS of their forests -nd mines on
condition OF heavy " hncs' and handsome royal
ties; OF they have invested largely III the appliances
If modern machinery, and bee me miners On manu-
facturers ck-breeders or Yne-growerS, on scale
that reminds one of West American enterprises.
The bOnrsiers began by encouraging the citizens
TO reconstruct then cities and III tact IL is III urban
building operations that speculation mas had It's
widest SWING. he stirring OF the dry bones mas
been universal ElOurlshlng SeapOfIs, from Ham
bnrp to Trieste. have received Il vast accession OF
trade because the volume OF imports ana exports
from the interior have been Swellh. SteadlIy' De-
caved Inperlal cities like Nuremberg, are TcSumlng
the activity that enriched them III the mCdle ages,
and breaking through the picturesque glrdle OF
their venerable walls, to the intense disgust OF ar
lists and antiquarlans SWampy tracts oi tIe HUN
p,riau mains where herds OF horses used 10 run
Wild, axe smiling year after year, WIN Ideh
haryests while the sheds ON tne quays Oh tOwls on
chlnery of our Towards and tOwlers. For
even backward States, like Roumanla. nave not only
entered on the race. but are alIeauy OutstIiPpus
more powerful competitors. Yet this sudden awak,
eninp TO activity has Its dangers. Nations that had
heen ~ the habit of boarding and looking closely "
each shilling they spent appreciate the ex-
element of easy. money-getting, ana are
becoming dependent on unfamiliar luxuries
Rnt thev are nervous as ever about their savings,
though they speculate freely, and serious check
will bring severe revu lsion at any moment The
great krdch of Vienna during the Exhibition year
shows how lightly even the comparatively sober
Anstrians become excited. We CHANGED TO be IN the
KaIserstadt at the time, and we shall never forget
the abiect panic that prevailed.