The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-09-07
Conditions in wall street.

While there is a broad contrast be
by the attempt upon the Presidents
life ma the cold spirit Of commerce.
ism which prevails in Wall Street il is.
nevertheless, eminently proper that due
precautions should be taken To guard
against a panic in that money centre.
In a business sense Wall Street is a
finder box Many of its largest trans
actions are Of a purely speculative ma
ture and every circumstance calculated
10 influence the market either favor
ably or UnfavoTably is seized upon by
anxious operators and turned to the
fullest account.
There is no substantial reason why
there should be panic at this time.
either as a result Of the attempted as
sassinatiOn, or from any other cause
But panics often come without sub
sIanual reasons, more frequently than
elsewhere they originate in the stock
exchanges, and they may be produced
BY sentimental oarri5a-atiOuS as we'll
as by causes Of a solid business nature
When they do come. if not quickly
checked, they are serious blows at the
general prosperity of the country. for
it is impossible wholly to segregate the
speculative ventures Of the stock ex-
changes from the great industrial and
commercial enterprises upon which the
hopes and the fortunes Of so many mil
lions rest
It is reassuring to know that general
business conditions are much better
now than they were at the time OF the
assassination Of President Garfield.
Then we were in the enjoyment Of a
slight revival after a long period Of Sc
we're depression. The depression had
been almost worldwide and still exist
ed abroad. Everywhere the financial
situation was delicate and strained.
The speculative boom in Wall Street
at that time was out OF harmony with
general conditions and il took very
little TO cause a serious break in the
stock market. The break came, II ex-
tended to the more legitimate business
Of the country, and another long period
Of depression followed
Now. everything is changed. We
have passed through the boom Of an
extraordinary business revival which
has been general on both sides Of the
Atlantic. and while the excitement has
died away. and a moderate reaction set
in. the business Of the country is still
on a firm and heaIthfUl basis. A furry
in Wall STREET could scarcely have the
effect now which followed the panic Of
1881. At the same time il might be Sc
rious. and il is well that every precau-
ton should be taken 10 prevent any
trouble whatever. The report is that
the associated banks will take united
action with that end in view. and such
action should be potent for good.
\ panic at this time could only come
from a senseless scare There is moth
ing in the shooting of the President to
give substantial cause for business
alarm. The indications are that he will
recover, and even If unhappily he
should not, there would be no material
change in the policy Of the Admins
tration 1t is 10 be hoped that the con
servative intelligence Of Wall Street
will be fully able 10 control the situa-
ton. and that there will not be a rip
pie Of unwonted disturbance upon the
surface OF our business affairs as a re-
suit Of the deeply deplored attempt
upon the lie Of the nations Chief Mag
istrate