Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-23
Evidences That the Result of the
Elections Is of Benefit
; TO THE BUSINESS OF NEW YORK.
Matthew Marshall Takes in the Horse
Show and Good Supper.
WHAT HE OBSERVED D0ING IOTH

to this center has now fairly begun. The III
crease of deposits for the week was nearl.
S5.5cO,C0O, of which about "a, ,0o0 0co was specl
and over 81, I,e5Oo00 legal tender The gail
in specie was not due to receipts of gol(
from Europe the arrivals of the metal iron
that quarter having lately been quite In
significant. though it may have come from
the boards of timid consignees who have
been treasured by the results OF the elec
tions and by the public declaration OF the
Secretary of the Treasury that the present
administration is determined to MAINTAIN
gold payments, even if it has to sell bono:
for the purpose. Making all allowances
however, we may expect from hencefortn
for some time, a steady addition to the
resources Of our banks.
The receipts of the railroads also exhibit
the usual autumn increase, which TINS yeal
VIII be very great, in consequence OF the
large movement of flood products to the At
lantic coast for shipment to Europe Ihe
New York Central is doing an enormous
business, and hear accounts OF its earnings
which, II they are not eXaggarated, are
marvellous. For the calendar year 1871, net
earnings of per cent on its capital stock
are confidently predicted, and for the two
months OF October and November an esti
mate of per cent net is made The in,
crease of the last semi-snnusl dividend OF
the Pennsylvania Railroad Company, the
the Baltimore & Ohio Companies, though
they pay no cash dividends as yet on their
common stocks, and the bettered condition
of the Burlington and Quincy and other
western roads, show that they, as well as the
New York Central, are participating In the
benefits Of the crop transportation
The Railroads a Good Index.
The improvement in the railroad business
of the country must very soon be followed
by a simila" improvement in its general
trade Even if the farmers and planters per
sist in the policy attributed to them, of pay
ing off their mortgages with the proceeds of
their crops rather than to buy goods, it
merely transfers the task of reinvesting the
surplus wealth produced by the agrlcuitur-
alists to their former creditors. IL these
cannot lend upon fresh mortgages the
money they receive, they must devise other
means of employing it, and must set on loot
new enterprises which will give occupation
TO artisans and manufacturers. Whether
they will build more railroads, vessels, factor
les and houses, open more mines, and lay
out more towns, or whether they will en-
bark in some new kind of venture, time VIII
show, but it is not in human nature for them
to let their pital lie idle.
The interest of New York in this return
ing prosperity of the country is much
deeper and more widespread than IS lndl-
Gated By the transactions OF Its STOCK LIZ
change, or even by the business OF its mer-
chants and manufacturers. The city lives
and thrives, not alone upon the earnings OF
its own inhabitants, but upon those OF the
Inhabitants of every city, town and hamlet
the interior flows as naturally to TINS point
as the surplus water of the Croton water
shed pouro through our aqueduct into our
reservoirs. When there is widespread IMAM
cial doubt we are restricted in our financial
supplies as we are restricted in our supply
of water by the lack of rain in Westminster
and Putnam counties. w hen plenty pre- P[Ss
walls i'll our tributary territory it extends
likewise to US.
Plenty of Money for Amusement.
hos Tnr firnn
strikingly exhibited the extent Of New
York wealth as the expenditures upon last
weeks horse show at the Madison Square
Garden. The past year has not been espe-
ciaiIy good for people engaged in business.
ON the contrary, ii has been for many very
poor: and to most. less than ordinarily prof
liable. Yet the horse show started out with
nearly $4,000 paid in advance for seats, and
1t has taken in at the doors, it is estimated.
nearly $50 600 besides. On top of this specu-
lators have sold tickets at twice, thrice, and
even five times the box office prices, so that
the amount paid by the public to see the
show goes far beyond the original SlG0,000 L
have been told that for boxes which fetched
500 ut the auction sale previous to the show,
81, 200 and more was afterward bid in vain,
and On the last evenings of the week single
seats sold all the way from s. to SO each.
The money paid for tickets does not, by
any means, either represent the total cost
of the entertainment. The exhibitors must
have disbursed. i'll the aggregate, a large
and for attendance upon them. and how
much they paid beforehand to secure pros
pective winners of prizes it is not easy to
compute. Over and above all this the dis
play of dress by the women who went not so
much to witness the show as to form part
OF K, and to see and be seen by their admir-
means by their husbands and fathers. For
those who entertained friends, either resi-
dent or not nonresident, there were further
large expenses for dinners and luncheons at
Il TN..1-N ,T1oFa
After dinner with a friend at this restau-
rantwhich was eaten in the company, was
told, Of the cream OF fashionable society, we
adjourned to the horse show, and there we
saw the thousands upon thousands of spec
tatOrs: all apparently as well dressed and as
prosperous as those we had seen at Del
1nonicos.
Deductions by a Man of Thought.
The whole affair made a profound impress
sion upon me,and started in my mind a train
OF very serious reelection. In the first place,
/ was reminded Of what have above said
about the great wealth Of the metropolis,
and Of the sources from which it is derived.
The next, naturally, 1 was led to con-
slider the ingenious methods which the
principal owners of this wealth find for
spending it. and their apparent indifference
70 the cost OF their pleasures. or course, to
geOOle with incomes of thousands and tens
og thousands of dollars per day, the spend
ing OF few hundreds comes easy, but on
Others il makes an impression like the read
ing OF the 'ATabiaa Nights or the novel of
Monte Cristo.' From this go to speculat-
ing on the future, and trying to work out
The probable consequences OF continuance
Of the possession of these great fortunes by
she families of those who have gained them
or who now have them.
On this point / have not sufficiently
snatured my conclusions to present them
now, nor have left myself space enough to
do it. I vii! say, nevertheless. that l have
not been led TO see as some do, in the exist
rnce and the transmission OF the accumula-
tons of wealth, oil which the horse show and
its accompanimentS are an Indication, either
political or social danger. The owners of
great fortunes in this country have not, eS-
cept in rare cases, shown a disposition to
use them for political purposes. and do
not view the tendency of wealth to promote
luxury as an evil TO society. In TACT, the
line Of denark8tion between necessar1es and
luxuries is continually shifting further up
the scale, 50 that what is regarded as
luxury not long ago and what is luxury
row is, therefore, likely to become neces-
sity hereafter.
The World Daily Growing Better.
As 20 the supposed corrupting influence of
wealth upon morals, ca mot admit il. IL
history IS TO be trusted. the world at pres
ent is far pIreT and better than 1t was in its
early days, notwithstanding the great in
crease in the com forts and elegance Of life.
Man = distinguished from the Drutes by the
SUPERIOR development OF his faculties and as
the,- develop they demand higher fields of
action and more refined qualifications. If
societv was not destroyed when its MEM
bers began to cook their food instead OF
Gazing Is raw, and wearing skins instead OF
going naked. so it will survive Delmonico
dinners and clothes from the best tailors
and dressrnakers.
Nor can recognize any peril to the social
fabric IN the alleged discomfort of the poor
10 m r.