Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1892-06-07
WALL STREET, New York, |
March FL, 1892.

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at home. The appointment OF . re-
ceiver for the bankrupt speculative
house Of Murreis & Co. ends long
agony among capitalists and is long
step towards the inal liquidation OF
England's latest financial folly. The
Continental crisis which has long
been pending seems to be at hand.
The failure Of leading banking
house at st. Petersburg few days
ago, the suspension Of Paris bank
TO- day, more intense financial dis.rust
in Spain and Portugal, and the polit-
icsl complications At Berlin, all point
Enthusiastically to q climax OF the
wre,ched condition Of financial and
political affairs that has existed upon
the Continent for years.
Y Il il not to be wondered at that the
American market, no matter how
sound and healthy il may be, should
stand still Ia the face Of these events,
and Others Of which they are the
precursors.
London, having relieved itself OF a
surfeit OF securities by extensive sales
OF its holdings Of Americans, and by
so doing having filed her bank
vaults with American gold, is in q
position to take care Of its holdings Of
Argentine securities, for which there
Is practically no market at present.
English bankers, brokers and in
yesto-s certainly will not touch Con-
tinental securities unless they should
fall in value TO such figures as might
tempt bargain hunters, for all OF these
securities have been tabooed in the
London market, and will continue to
be until capitalists Determine whether
or not to bring on general war be-
tween European nations. It's rea-
sonable to assume, therefore, that the
minor and local financial troubles OF
the Continent will be limited to those
who are locally responsible for them
that is, as far as the misfortunes OF
any nation can be confined within its
own territory.
Out OF this disorder better and
.ounder condition of affairs will be
developed by the imperialism OF cap
ital, but the process Of reaching that
basis will inevitably be slow, tedious
and costly.
We must proceed with caution and
guard we'll every movement made,
Tor the lower orders of the people are
already showing signs OF restless COM
motion.
Prudence will, therefore, dictate a
policy of apparent yielding to the
popular will--until all our plans are
30 consummated that we can declare
our designs without fear OF any or
ranixed resistance.
The Farmers Alliance and Knights
of Labor organizations in the United
States should be carefully watched
bv our trusted men, and we must take
immediate steps to either control the
ORGANIZATIONS in our interests, or to
disrupt them.
At the coming Omaha convention,
to be held July 4, 1892, our men must
attend and direct its movements, or
else there will be set on foot such an
taronism to our designs as may re-
uuire force to overcome.
This, at the present time, would be
premature, as we arc not yet ready
for such q crisis. Capital must pro-
tee. itself in every possible manner,
through combination and legislation.
The courts must be called to our aid,
debts must be collected, bonds and
mortgages foreclosed as rapidly as
possible.
When, through process OF law, the
common people have lost their homes,
they will be more tractable, and east
ly governed--through the influence
OF the strong arm of the government,
applied by central power OF imperi'
al wealth under the control of lead
ing 6nanciers.
A people without homes will not
quarrel with their rulers. History re-
peats itself in regular circles. This
truth is we'll known among our prin-
cipal men now engaged nforming an
imperialism of capital to govern the
world. While they are doing this the
people must be- kept in condition of
political antagonism. The question
!