New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-01
THE PANAMA SCANDALS.
THEIR EFFECT SEEN IN A SHARP DECLINE
OF PRICES on THE BoURsE.
UNREASONABLE CRITICISM OF THE GOVERN
MENT-ATTITUDE OF THE MINISTRY
TOWARD THE REvoLUTIoNISTs.
fBY ClsE TO THE TRIBuNE.)


TOWARD THE REvoLUT1oNIsTs
(BY CAsLE TO TIE TRIBuSE)
Copvyfcht 1888 Bv The Tribune Assoctation
Paris, Dec 31.-The financial public has ex-
pressed its opinion Of the present situation by
steadily selling and to some extent sacrificing It's
securities French three per cents closed last
Saturday at 1892. opened on Monday at aS, and
closed yesterday at 9575. Other French securi-
ties have shared though generally TO a less OK
tent. in this decline; while foreign securities
remain for the most part unaffected. 1t is IN
these circumstances the investing public which has
lost. Spectators have both lost and won But
IL is poor consolation for those interested in maln-
tanning French credit to know that the bears
have had on the whole good week. The attacks
on the Republic have cost France a great sum of
money.
Rumors are the basis of innumerable operations
on every stock exchange in the world. and OF
more in France than anywhere else. In no
country is there more timidity or more credulity
among investors. In none do slight events create
greater panic. The events of three weeks have
not, it is true been slight and the fall in French
rentes does not vet amount to a panic; but there
has been and still is great uncertainty about the
immediate political future, and the apprehension
of what might happen has. as usual, discounted
tho future. There il, always on the French
Bourse a strong party who are bulls, not lacking
in resources or in resolution II they have not
succeeded in preventing heavy fall. it is because
small outsiders have rushed in to sell. Losers of
course blame the Government.
"Why is the Bourse left at the mercy of every
rumor?" asks one of the discontented. The
Panama scandals either true or not. II they
are only calumnies, they ought long since to have
been denounced as such, and exposed. 1t Is 1or
the interest Of everybody except agitators ana
speculators that the truth should be known. III
they are true why are the guilty neither reiho'eo
from office nor punished?'
These summarize the questions have seen ana
heard asked. They are fair sample OF INC
nationality which guides men who consider their
own interests first of all Nobody taxes inc
trouble 70 explain what the Government ouSht "
have done. or could have DONE beyond what
:. hos done II il not fortnight since it was
accused of attempting too much, of competing win
.he Rrisson committee, of starting criminal
,rosacutions for political ends and OF othcr ike
c,in,es The arrest of NJ. Charles de Lesseps
and bis codirectors was fercely criticised Inc
Same critics are clamoring to-day against '"c
delay in prosecution the accused knowing very
we'll nevertheless that the affair is wholly III 'i,e
hards of the examining magistrate, and that NJ.
Frannueyille Is a man who will not DC uic'aw'' az
% Ia ;s not slow, but he is thorough i"e
Ministry have no control over him. lhe eNan'i''"-
ton follows its course.
Still, less have they any control over NJ BITS
son or his committee. They are IN an!asohi'u'
omen or veiled, with both. NJ brissohs ".
upon them in the early hours OF theil cAis..n.e
was only defeated by their own voteA iheir
n,a;oritv Of six in the Chamber was one less than
Tho number of Ministers who voted 1t Is pre-
nos+erous to attempt to hold them responsipie ior
acts of their declared opponents
The most that the Ministers could do az 'he
,noment to calm the public mind was TO aolourh
Parliament for the holidays. That they oiu' ~
was matter of course that there shoulu pe "a
adjournment over New Years: but IL PROMISED
at least respite from purely poi'ic' oii'i''
Tic promise has been vain, so lar d. hhance 40
concerned 1t is during this week Oh pol'cai
tranquility that the heaviest fall in rentes has
occurred the natural sequc to the previous fort
night of scandalous and perfectly reckless on
slaughts. not upon Ministers or Presidents
merely. but upon the institutions in which the
whole political lie of France is now bound up
The notion that the e.i;tcnce OF the Republic
itself was challenged m,de its way slowly among
the multitude. among the mass on the populacc
cutside Of Paris, among tie peasantry, among inc
lesser traders and manufacturers Of the provinces
among the small investors who are dotted
1t has eaten into the sluggish minds OF these re-
motcr casses and the record OF it is to be found
in the Bourse quotations of this week. How was
the Government to stop that!
am far floln saving that the conduct OF the
nst Ministry, Of this Ministry, has been wltl
respcct TO Panama distinguished for prudence oi
foresight VI. Ioubets mistakes were many, ana
IL his successor is not relieved from all RESPONSE
tiity for them. it is because the two Ministries
are composed Of nearly the same men. bh'
they are now attacked for errors they dlo ho
commit, and for not ooing what no M'nstry couiu
have done. Thcy are attacked also for mol
DEALING suu,.nary with the new Anarchist ane
Socialist acitaiicn.
Well. in tho first place, nobody knows "na'
measures have been adopted for dealing "''
tho attack on society. In the second place, II
is nrobab,e that the Committee OF Public oaleS
has thus far kept within the law.*elhc mee'ih:
81 tbc Maiscn du Peuple, from which TINS com
mittee spran2 has had "a much grea'er p""iici'
than its authors expected, or than can "c aslee'
'hlc to them ii they mean business Inc W.
eminent is forcwarncd, the police are On 'h'
alert II is said that the Ministers, or so"e "
them. are disposed to regard the mchace' u 0"'
S,,c;al;s,s and Anarchists, and Revolutlonist'
o.re-allv. as 20 much empty buster. lha'
not. l think, the view of the Ministry OF 'he ii
tnror which Is directly responsible, OF OF .n'
Prefecture of Police, which is still more airec,s
responsible One proof of it is that '"esc an''a
bic regencrators Of society have not Se' suc1e' M
in pIacar6ing in ihc streets Oh faris sins'o .n
or their 1naniiestocs They are lndep'eu W w, ra'
60 tor the publication Of these documents. i"'
,,.s. "a oui;e right to publish them No'hi'i'
4. an lil,ey 10 inform the pubic hihu' VI
create a useful public spirit, as the perusai .
this incendiary literature. 1t grows IN SOiu,u' ~
Sav by day-manifestoe oes, interviews speeches. IL
>'"S - ,oJ much cla