The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1894-07-28
a General R~yi,aIin view.

Eanclat review, the cniel influence
acting upon Wall streets interests
has been the disorganization of bus
mess arising out Of the great west
ern strikes The remarkable fact
is that with so many thousands Of
the working classes in open hostility
not only TO capital but to the United
States government, and with the
threats Of labor leaders to carry
this disorder to The utmost extent
that the numbers of their followers
made possible,-the financial centre
of the country has remained calm
and values have been comparatively
unaffected. European holders of
our investments have shown some
uneasiness at this spectacle of or
ganized revolt against capital and
the laws that protect (which is
only what might be expected from
the distance separating the event
from the observers and there has
been some consequent selling by the
London market, though barely suffi-
Gent to visibly affect quotations
here
The cause of this confidence in
the financial markets has been the
conviction, entertained from the first
that the disturbance could be only
temporary,-so brief indeed as bare
ly to afford chance for making a
safe bear attack on the mark ct.
Wall Street has become so familiar
with labor disturbances as to know
pretty well how to value them. 1t
understands the intrinsic weakness
of the strike principle, when fairly
put to the test, and has learnt that
such contests are most apt to end
in some form of relief from the re-
straints or exaetions that have been
arbitrarily enforced by the unions.
The interruption of travel and
transportation has been regarded as
more temporary postponement of
railroad business than as SO much
permanent loss; and the destruction
of property has been viewed as a
charge upon the local governments
which have failed to prevent vio-
lence, rather than upon the corpora
tions that have been raided. More
over, whatever minor forms of actual
and uncompensated loss have fallen
upon the railroad interest, it is felt
to be small matter in comparison
with the Offset accruing from the
signal failure of the strike.
The firm attitude assumed by the
Government in, for the first time,
affirming that these violent methods
of strike are fundamentally opposed
not only to the rights of the citizens,
but also to the laws of the Uuited
States, is an invaluable contribution
towards confidence in the future
immunity of our railroads and other
large corporations as against the
lawless Interruptions.
Congress is now within a few days
of completing the enactment of the
new tariff, and so far nothing has
arisen in the conference of the two
Houses suggesting the possibility
of a disagreement. In business cir
Giles howver there is no disposition
to take anything for granted IN this
matter, and the effects of the adop-
ton of the bill therefore cannot be
measured until the agreement be-
tween the Senate and House has
been finally completed. At present,
the feeling is very common that
general revival of confidence and of
business will then set in, from which
a steady development may be expect
ed. Accounts from European centres
indicate that the enactment of the
tariff will be the signal for revival
of interest in American Investments.
Taking all the conditions and prob
abilities as they stand to day, we
should not be surprised that, within
the next one or two months, the sit
uation is construed as favoring the
setting-in of general process of
pronounced improvement in the in
dustrial, commercial and financial
interests of the nation.