The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-20
WE ARE GAMERS.

WE AXE OAINEHS.
Laying aside the moral aspects of
the war begun between Greece and
Turkey and the regret that right minds
feel for the awful suffering that fol-
lows it, and looking only at the bust
ness and commercial side, the people
Of the United States will be gamers
by the disturbance. This is a narrow
and selfish view, but human affairs are
conducted to so large an extent by mar
row and selfish rules that they are not
to be omitted from practical estimates
Of life. The money advantage to be
reaped by this country from a Euro
pean war depends upon the extent and
continuance Of 1ostilfties. Were the
great nations to be drawn into the
vortex, it would have for us a very
grave and permanent meaning. All of
these are mighty food consumers, and
some of them enormous food producers.
Their demand would not be 1essened,
while their capacity to add to supply
would be cut off in proportion to the
fields of agriculture and drafted into
the army, and to the extent of the
territory that might be laid waste or
made impossible to cultivate during
actual hostilities. In addition to this
thousands of hands must be set at
work upon the manufacture of NUM-
lions of war, and these too, are drawn
from the general ranks Of industry
War is immensely destructive of
wealth, and for that reason, by limit
ing supply in one direction and ere
ating demand for labor in another, it's
temporary benefits fall to the non-com-
batants.
We see the effect of this already in
the increase in wheat and other prices
from the instant that war is declared
The unfavorable effect upon certain
classes of securities is really due to
one Of the silly traditions of the stock
market, rather than to reason. For
there will always be a large amount Of
capital and that reasonably constant,
waiting for investment. It is shut out
now from Turkish bonds and from
the securities Of large classes of en-
terprises, not only in the territory of
the parties to this war, but in that Of
those others who might possibly be
drawn into it. This capital hunting
for the safest field, will seek the Unit
ed States, and the reaction will bring
an ADVANCE all along our list Of stocks
| and bonds. The increased demand for
food products and for other commodi-
ties, in case the struggle should be
serious or long-continued, will make
an appreciate difference to the Amer
lean laborer
We do not apprehend a general
European war. The great powers
which have sacrificed everything that
men and nations are wont to hold dear
in order to keep the peace, are not
likely to change their policies because
Greece and Turkey are at each others
throats. They will look on until the
I moment for interference comes and
| stop the fight, probably, in time to
| prevent. one party or the other from
determination. Therefore, the disturb
ance Of the field of industry will not be
as large or as prolonged as many peo-
| pie expect. To the extent to which it
| spreads, however, and while it lasts,
it will give fresh impulse and new ac-
tivity to American industry, and do
| much to advance the return Of that
prosperity for which we are all looking
so anxiousiy and expectantIy.