The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1892-09-18
FINANCE AND MINING.
The Probable Effect of Cholera
on Trade.
ORE AND BULLION OUTPUT.


The late improving tendencies In the in
vesfment markets have sustained severe
cheek from the wide prevalence of cholera
foothold in the United States. 1t is true
that thus far we have been able to keep the
pestilance outside our gates, still the pres
ence of the gloomy paraphernalia of quar-
antlne right under our eyes. and the con-
slant cable reports of the devastations OF
the disease ia other countries, together
with the possibility that its subtle blight
may find its way through all our obstruc-
lions, are matters calculated to keep up
a feeling of insecurity until the
plague has disappeared by process Of ma
tural exhaustion Nor is it the mere hor-
ror OF the disease that affects business
confidence Its spread in European ports
has very direct tendency TO check i'm
ports Of American products; for not only
are merchants at the infected ports desir-
GUS Of holding the smallest possible stocks
Of goods that may carry contagion, but
their trade is crippled and their means of
meeting their liabilities are becoming
seriously impaired; so much so. in the case
of Hamburg, that the bankers OF that city
have found it necessary TO allow thirty
days grace on obligations maturing in
September.
These causes are visibly checking our
exports of cotton and of food products
generally, with corresponding effect upon
the prices of those staples. And the cur
tailment of those shipments reduces the
supply of export bills, which has a tend
ency to correspondingly stimulate the ex-
port Of gold. Hence il has been argued, in
tor hat cholf ha cod n
q gold drain at the very time when the
west will be drawing on this city for cur
rency- This conclusion, however, ignores
the fact that, to the extent that the eX
ports may be curtailed, the forwarding OF
products from the interior TO the seaboard
is likely to be interrupted, thereby dimin-
ishing eastern remiJtances 10 the grain
states.
All these possibilities are of too weighty
character to be ignored. for a certain
period they must have their effect upon
the markets and upon business at large;
but, taking the case at its worst, it is only
a matter OF few weeks when the troubles
will end and the effects left behind will be
confined TO the loss of so much population,
whilst the movements of trade and finance
will be resumed with their usual conf
dence and activity. Really, therefore, as
the situation presents itself TO Wall street,
it is mainly q matter of ability to endure
and TO sustain values for comparatively
brief period. This is the view that Wall
street is likely to take of the present stu
alton; ana although occasions may arise
favorable to transient attacks from ''bear''
operators, yet we see no reason to fear any
important declines in solid securities
Apart from the transient effects Of this
alarm, the general position OF affairs in this
country Is an eminently safe one. In al
most every branch of industry, production
is in full and healthy swing The harvest
together with the large SURPRISES of agri-
culture brought over from last year, gives
US supply of products for distribution not
even surpassed by the unparalleled sbund-
auce of 1891; SO large indeed that we must
expect to again carry over large SURPRISES
10 next year.