New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-21
THE POSSIBLE EFFECTS.

Speculation runs wild because traders are
confronted with the unknown. Just as there
is more gambling in Sugar stocks than in the
stocks of solid and prosperous railways whose
weekly earnings show how they are doing, be-
cause there is nothing known about Sugar to
prevent any frcakish speculation, so the sudden
arrival OF new and unknown conditions In the
stock and wheat markets opens the door for
the widest guesses and for unlimited specula-
ton. sober consideration Of the influence
upon American trade and markets or a war
between Greece and Turkey. if confined to those
Powers would make the sudden changes In the
markets appear almost senseless. The Grecian
feet other Powers not interfering. may possibly
be able to cut Turkish communications and sup
plies at Salonlca and thus render Turkish posi-
tons in Thessaly untenable. Or Turkish forces,
if not held In check about Larissa long enough,
may be able TO push so far into Grecan terri
tory as to compel prompt Intervention or Euro
pean Powers But in either case such n contest
would mean little to American business inter
ests. The larger possibility which lies behind,
unknown and yet obviously bordering on the
probable chiefly affects the prospect
If there should be general uprising Of Greeks
In Turkey, whether stimulated by an attack on
Salonica or not. the continuance of Turkish rule
anywhere in Europe would at once become high
ly improbable. Then the strife OF the great
Powers over division Of the territory and the
control Of the Bosporus and the Dardanelles
would render war between them scarcely avoid
able in their present state OF Intense jealousy
and ugliness Of feeling. But 1t has been the pre-
else object of the great Grecian secret society
to prepare for such an uprising, ana IL Is
scarcely conceivable that the King would have
defed the European Powers and the superior
forces Of Turkey unless strongly convinced that
such an uprising would neutralize all Turkish
advantages. If it comes, and the dismember-
ment of Turkey sets the great Powers at war,
then indeed the influence upon American trade
and finances would become important. Because
that contingency is not improbable. but Is serl-
ously expected by sagacious European states
men since the concert OF the Powers became
shameful farce, there Is room for wide range
of speculation as TO the future Of American In
terests.
Wheat stocks are low, and months must elapse
before the coming crops can be gathered. or
even approximately estimated. During the In
tervening months, with stocks running lower
and q great war possible at any time, Eastern
Europe would naturally hold back what wheat
il has remaining. and Western Europe would
have to pay higher prices for supplies. 1t is
this possibility which makes the climbing quo
tations In the wheat market not wholly unrea-
sonable The world has wheat enough accord
ing to the best information obtanabe, provided
nothing Interrupts It's distribution to points of
need before another harvest comes. Dorm
busch makes the worlds supply but little smaller
than usual. including an allowance for the
American yield which is VIGOROUSLY too low.
But If war checks the free distribution from
Russia and the regions about the Black Sea,
Western Europe will have to rely for some