The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-07-09
THEEFFECT OF The GREAT STRIKE
On Wall strect-AIBollef that It's Re.
suits VIII DO Booencial-rs VIII
Provo 40 Invaluable ProteotiOa
Against Faturo DiSputcsaud Result
In tho Passage of a National AsbI.
trntiOn Law.
speesal carx,pnse.es efr.s l.l.rlrsaeg.

road strike has had much less oGect
than might havo been expectad from
It's extraordinary magnitude. AZ the
opening of tho week, thore was como
selling from that cause; but ii isa sig.
nilcant symptom that the "bears," In.
stead Of making 1t an occasion Tor sell
ing, became buyers TO cover their
Shorts" aud tho fall In prices was con-
sequOntly but lag pOr cent aud Of btlet
duration.
Tho view very generally taken Of tho
wild action OF tho strikers is, tIat its
own excuses must bring speedy
remedy. Wall street takea little stock
In tho schemes Of more agltators; and
in tho blatant professions Of Debs 1t
Beos damaging blow 10 tho domagog.
iam that porvades a certain class Of
unions, though fortunately by no
means all OF them. Tho present strike,
in spite OF its magnitude and jts dis
play OF threats and force, has brought
out an ASSURANCE which not only goes
far towards allaying tho preaent trou-
bio, but will also prove an invaluable
protection against future disputes Boz
tween tho railroads and their employees.
Tho government has reached tho con-
Clusion that It Is legally concerned not
only in preventing violent interiOTonces
with the transportation Of the mails,
but aiso with the interruption OF tho
carriage OF passengers and freight as
| between state and state ThiB, upon
full consideration by the highest legal
authoritics, tho administration accepts
as tEuo construction OF the inter.
state commerce laws; and the troops
have accordingly boon set in motion to
quell tho present disturbances III tho
west; which means that, il the strikers
60 not speedily return to their places,
tho roads will DO unabied 10 GIL theft
positions with new and uon'nnion
hands. This action not only provides
a short cut to tho end Of tho present
rtotous proceedings; but II puts before
railroad employees the certain prospect
OF their having to deal with the armed
power Of tho United States In any
future attempts to enforce their strikes
by violence. This Is not only OF i'm.
mense value TO the railroads, US reliev.
| ing them Of q constant menace OF their
property and operations; 1t will be
equally welcomed by the public at large,
who have suffered great INCONVENIENCE
and loss from those Interruptions OF
travel and Transportation. Beyond this,
the action OF the government carries n
great moral assurance to the country a.
large. The lawless proceedings oil labor
organizations have so long been quietly
tolerated as to produce n growing feel.
| ing OF dlstrust Us to the efficiency Of
the laws tot the preservation OF
order; and this specticle OF the
impunity Of violence has boon
direct encouragement TO the disregard
! Of the civil rights OF tho citizen. Il Is
/ therefore q most refreshing assurance
TO SEQ tho highest authority OF the ma
| ton thus boldly declare TINT the rights
OF property, and liberty for its unob-
s:ructed use, must and shall DO rc-
spec.cd. And yet this action, itro'
| spectiye OF the Interstate commerce
laws, 10 nothing moro than should DO
expected from the government Tho
| railroads are tho highways OF the
| nation; and II 1t Ia conceded to BIO
necessary to keep them open for the
carriage OF the mails, 1t must bGallowed
10 be even still more necessary, IN tho
interest OF the people OF large. that thoy
/ shall be kept unobstrncled for the
transportation Of products and persons.
Il Is plain dictate Of public policy TINT
this important services should DO por'
formed by the national government;
and 1t Is simply marvellous that this
duty should never have hitherto been
| openly recognized.
| During the latter half OF tho wook the
| market for securitiea showed tho bono
fetal effects OF those assurances. Evcn
London responded by orders TO buy.
Indeed, tho English market is leconing
Il much more important element Of sup
mort TO Now York than 1t has been for
many months past, II not since tho pas
suss OF tho Sherman silver act ihis
seems to DO in largo measure due to
tho expectation that, when tho tariff
bill is out OF tho why, there will be
revival OF business in this country and
moro sottled condition oil politics.
And there arc reasons for hoping that
this expectation may prove to DO well
founded, There Is certainly an i'm
proved tone In most branches OF trade.
| buyers lEVlll blG iAlhSllSA ANpSs -
poct for about nn average fall trade;
and, what is more important, they seem
to agree that prices have touched bot
tom. It is truo there is no very
marked improvement In tho amount Of
purchases: nor is it expected TINT the
business OF tho second half OF tho year
will show o really brisk aspect for buy
ors arc likely to cling TO tho hnbit, ac-
quircd last year, Of spreading thoir pur-
chasos over tho season, instoad OF sup.
plying their wants by largo transactions
at the beginning. Which may mpart to
trade the appearance OF continued con.
servatism. In this sense no immediate
excessive activity in trade 10 expected;
| It Is very generally expected, however,,
that next spring will certainly bring
"boom," which hope has sustaining
effect upon confidence.
Tho intervention of the banks 10 sup
ply tho gold wanted for export has had
the anticipated eiTec. Of stopping tho
outflow, tho shipments of this week
having been almost nominal. This met
shows strikingly tho difference between
tho banks aud tho treasury in their
respective ability to control tho move
monts OF gold, and honco tho unwisdom
Of making tho government tho chief
custodian OF tho precious metals.
EIESW CLgws