Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-28

rency will so raise the prices of commodi-
ties that this country will be the best mar
ket in the world to sell them in, and, as long
as we maintain gold payments, foreign sell
ers will be able to collect gold for their
4 goods. Hence any sudden demand for gold
I abroad will produce another drain of it, like
that of last spring, without the resource,
which we then had, of a. surplus IN the Ma
tional Treasury. For the present we are
tolerably safe, but another year may show a
different state of affairs, and then Mr..
Gifen's judgment will be vindicated.
JAY GoULD's UNHAPPY LOT.
Mr. Giffen's lot is, however, happy one
compared with Mr.. jay Gould's. He is
only condemned and ridiculed, whereas Mr..
Gould is execrated as an incarnate demon.
The unanimity with which the street inter
preted the failure of the Missouri Pacific
| dividend as evidence of an infamous pur-
pose on his part to create panic, and thus
to wreck the prosperity of bull speculation,
reminds me of the remark of the French
diplomatist when he heard of the death of
the Minister of rival country, with whom
he had been having a negotiation marked
by great adroitness and fertility of resources
on the part ofhiS adversary:
Dead? What does he expect to accom-
plish by dying?"
l.
sonable to suppose that Mr.. Gould advised
or consented to the action of the Missouri
Pacific directors from any special motive.
He may have simply got tired of advancing
the money for dividends and concluded that
this was as good a time as any to stop. Rail
road business in the West has notoriously
been Improbable until within a few weeks
past and while the disbursement of $500, 900
for the renewal of maturing bonds should !
not, as matter of bookkeeping, be charged
to current expenses, but distributed over
the interest account in installments from
year to year during the term of the new
bonds, yet, as matter of cash, the money
has been paid, and TO that extent has de-
pleted the company's treasury.
GOULD EASILY DISCOURAGED.
Mr.. Gould, it is well known, is some
times easily discouraged. His late Ia
mented partner, James Fisk, Jr., said of
him that, on a certain occasion in the Black
Friday panic of 1869, he was .'nothins but
a pair of eyes and a heap of Clothes" so
completely had his courage oozed out of
him So, nov, he may have honestly del
SPARED of the future of Missouri Pacific,
as well as that of Union Pacific, and ascrib- |
ing to him profound Machiavellian policy !
may be purelya work of the Imagination.
The bright spot to me in the financial |
future is the evident commencement of |
reaction against the silver craze and the |
prospect, not only of the defeat of un-
limited silver coinage, but of the ultimate |
repeal of the act of July, 1890. The par
tisan declarations in favor of maintaining |
the gold standard, though they are am |
biguous, are still cheering, but more cheer |
ing and almost satisfactory is the change of |
sentiment at the West which is bound to
result from large crops and high prices.
The handspring of the silver movement |
has been the desire of getting more dollars, |
and now that this desire is about to be |
gratifed by natural causes there remains no
motive for appealing to legislation for a
debased dollar