Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-19
A SOLID PROSPERITY
Indicated by the Fact That a Cholera
Scare Doesn't Injure
TEE BUSINESS OF THE COUNTRY,
The Occasion Used BY Stock Brokers to
See-Saw the Market.
IRCCAN rrIOr- rna,r
A LESSON TO LEARN FROM STRIKES


lefhSiAls TELh9RAh TO THE DrsPAT RI
New YORK, Sept 18-"The Country's
Solid Prosperity" is the title of Matthew
Msrshalps article for to-morrow's San, which
reads as follows:
The announcement on Wednesday that a
few cases of Asiatic cholera had appeared
in the city itself was made the occasion of a
depression of prices on the stock exchange
similar to that which was produced q fort
night before, when the steamers from Ham
burg with cholera victims on board began
to arrive at Quarantine. How far the sellers
of stocks were really frightened, and how
far they only pretended to be so, it is, of
course, not possible to say, but surely five
or six cases of cholera among 1000 900
people should not cause profound alarm.
One case, indeed, was not discovered to be
of the Asiatic variety until more than q
week after it occurred, and then only by a
careful microscopic investigation. Nor, in
this case, had the disease spread from the
patient to healthy persons, alth ough, OF
course, no steps had been taken to prevent
1t from doing so.
Were New York like Hamburg, an old,
closely-built and ill-drained city, supplied
with contaminated water, there would be
some reason for expecting the epidemic,
once started, to rage here as it did in Ham
burg. That in the few instances thus far re-
ported it has died out on the spot, shows
that 1t has, as yet, found little food to feed
on.
Cholera Not Such a Rare Disease.
If the truth could be known. probably not
year passes without dozens of deaths TAX
ing place in the city from intestinal troubles
which, upon examination, would be proved
to possess the true cholera character. They
do not run into an epidemic because the
conditions do not favor il, and those now
coming to light will, there is evident reason
to believe, be equally harmless. Consider
ing that during the summer months the
deaths from cholera infantum and cholera
morbus frequently amount to several hun
dreds week. those now attributable to
Asiatic cholera seem hardly worth atten-
tion, and certainly ought not to create q
panic.
Still do not refuse to recognize the fact
that the advent of the cholera and the I'M
certainty winch, in the absence of expert
ence, prevails with most people as to its
future career have discouraged the buying
OF stocks and prevented the making of an
effective resistance to the downward course
OF prices. comprehend very well, too, the
dependency Eot only of persons who have
been compelled by the wiping out of their
margins to sell their stocks at a loss, but of
investment holders who have not sold and
are under no necessity of selling, but who
have to endure the sight of an apparent
shrinkage OF their capital. Their incomes
are nowise lessened nor likely to be lessened
tion of human nature that high quotations
for ones property are viewed with pleasure
and decline in them causes pain.
Shrewd Stock Operators Schemes.
shrewd stock operators are aware of
this fact and act accordingly. If by bold
and persistent sales they can produce n
nominal fall, a real fall is likely to follow it
and to give them back at profit what they
have sold. We have all seen the thing done
over and over again, and yet we continue TO
be Influenced by IL. Fortunately, the coun-
trys prosperity does not depend upon the
X,,lrC iel li+f1, Z
fected by its vagaries. 1t is too solid
in its nature, and rests upon too
broad foundation to be seriously
impaired even by the ravages of cholera in
the worst form that the timid expect it to
take. Nor are the expectation of gold, the
recent labor troubles and the alleged mis-
chiefs of the Mckinley tariff to be accepted
rs indications of a decline in it. The indus
ry of GoO00,C0O OF people, with millions of
ores OF fertile soil, vast and productive
lngenfons foTee esRSGiSa. snS aeeo%.
plishes results of too immense proportions
TO be thwarted by such petty agencies.
Why the cholera is not TO be feared as n
destroyer of values, and why the exporta-
tion OF gold, even ii it should result in put
ting the metal to premium, will not pro-
duce any serious mischief, l have already
explained on this and on previous occasions.
That the philanthropic and tender-hearted
people who see in the strikes at Homestead,
Buffalo and other places evidence of deep
seated wrong and of coming industrial disas-
ter as well as the political writers and
speakers who denounce the Mckinley tariff
the cause or q commercial depression az
ready great and sure to become greater, are
likewise in the wrong think can also be
made plain to any one who Will dispasSfon-
ately consider the facts.
Discomfort That Is Frequent
Undoubtedly, strikes such that at
Homestead against a reduction OF wages,
that at Buffalo for higher wages that of the
New England granite cutters against a
change in the date OF fixing wages. and that
of the building trades in this city against
the employment of non-union workmen
deal OF discomfort among the earn
ers o. their living by manual
labor. In this respect, however, they
not differ from the rest OF mankind, especi-
ally that portion of it which dwells in this
country. The United States would not be
what it is ii our forefathers had not been
discon tent with the rule of Great Britain,
and if every one of us, both native and
foreign born, were not disconteEted with his
lot in life ana striving to better it. Discon-
tent Degets enterprise, stimulates ingenuity,
and promotes industrial activity.
The men who work for wages, when they
endeavor to secure greater compensation,
shorter hours, or any other Improvement in
their relations with their employers. are ac-
tuated by the same motives as the builders
OF railroads, the founders of factories, the
openers of mines, and all the other varieties
of money seekers. Their strikes are
no more proof of misery than
are corners in stocks, the formation of trusts
or railroad rate wars. Besides, when hun
dreds and even thousands of men are able to
live without work for whole months at a
time, a. we see them doing when they are on
a strike, it shows that they are by no means
in state of utter destitution and starya-
rion. Labor troubles, as proofs of decaying
industry, may therefore lie treated what