The Providence news. (Providence [R.I.]) 1891-1906, 1901-05-11
Uhaf Others
fire Saying.


"1'he point we wish 10 make IA that
the slump IN stocks Yesterday had no
relation 20 the Intrinsic value of the
securities affected or OF any financial
condition. hut was solely the result OF
two great interests lighting over n
principle and not because anything
had happened In national or local mat
ters To Indicate the slightest dimlnu-
tion In that general prosperity which
is at the base OF all values There
have been losses IN the stock market
but most OF them have either been
paper losses or else the loss OF that
money which has recently been made
in speculation by overconndent bulls"
Philadelphia Inquirer.
...o..
"Other states would do we'll u copy
the New York law relating 10 savings
banks but no statute can guard the
depositors against thieving officials.
Frequent Inspection is, however. "A
great preventive OF bank-wrecking -
Buffalo Courier
"No less than thirty-eight Mormon
missionaries sailed from Boston 10
Europe on a single day last week,
and as a result We may expect 20 have
several hundred Mormon converts
sailing from Europe 10 this country on
single ship. MormOnism may be un-
American ia many Respects. but it has
no lack OF American vigor. r."-San
Francisco Call
Something was needed 10 check the
stock iobbing mania, which was fast
possessing itself OF the entire COM
munity. and n is quite as well. per-
haps, that the check should be adj
ministercd by open evidence that
many prevailing values were ncu-
tious. and that Stock Exchange sharp
practice was a powerful factor in the
boom. Even a so-called stock market
panic will, sooner or later, be arrest
ed, I'm such days as these, by the
mere fact that prudent investors and
capitalists have parted with their own
holdings many DAYS ago, and are now
I'm the position where, when normal
prices are again approached, they can
re-invest their funds. But they will
do SO. Wall street may rest assured,
on better grounds than belief that Mr.
Morgan and Mr. Hin and Mr.. Gould
and Mr.. Rockefeller are eager TO buy
everything I'm sight at the top prices
OF the market. New York Eevening
Post.
"The acquisition by Americans OF
foreign steamship lines does not build
up an American merchant marine.
Those vessels will be just
as much foreign hereafter AS
heretofore. They will run under
the British flag and will be comman1-
ed by British officers and run by Brit
ish crews. They will be subject 10 the
orders OF the British government ia
case of war."-Philadelphia Press.
" THE little state of Connecticut is
agitated from top 90 bottom is the
way an Eastern newspaper interview
reads. This is the first intimation that
Connecticut IL big enough 10 have a
top and bottom. LOS Angeles
Herald.
'Steel plants are not sprouting as
numerously this spring as last. bat
those of the previous year are grow
ing strong and thrifty"
Dispatch.
Trade follows the flag. says one
authority. Trade follows commerce.
says another. Trade follows the
price, says a third May IL not be
true that trade advances of its own
force. and pushes ahead OF IL which
ever OF these agencies IL find5 occa-
sion TO use?"-Philadelphia Ledger.
.s.o.s.
''It IL not fair now 10 dwell contln
ually upon Boxer outrages They, of
course were indefensible. but history
is long and the Chinese have suffered
far more from the whites than they
have caused the whites 10 suffer.
They have been robbed of territory
upon, every border. have had their
sovereignty scorned within their own
country. ave had an abhorrent and
demoralizing trade thrust upon lem,
and finally during the last year they
have been subjected TO more cruel
atrocities than they have inflicted.
and have probably given up scores OF
lives for every one they have taken"