Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 41, no. 1041: February 25, 1888

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February 3&, 1888 The Record and Guide. ^33 ^ ESTABUSHED-^N\hRpH2l'-!^1868. De/oTEO ;0 KeaL EsTAJE . SuiLDI^G AflChflTECTUKE ,KOUSEHOID DEflOR^TlOtJ. Bi/5it/ESS ab Themes of Ge^eraI Ij^t£I\esx PlilCE, PER YEAK IN ADVANCE, SIX DOLLARS. Published every Saturday. TELEPHONE, - - - JOHN 370, Communications should be addressed to C. W. SWEET, 191 Broadway J. T. LTNDSEY, Business Manager. Vol, XLI. FEBRUARY 25, 1838. No. 1,041 Congress keeps on'chattering and doing nothing. The business of the country halts because no sign cornea from Washington as to what will be done with the finaaceg. The surplus keeps on ■accumulating and hereafter must remain in the Treasury, for the banks cannot loan it out with advantage. Apart from the uncertainty no great harm haa been done, because money bas beeu easy. Capital ia fearing to embark in new enter¬ prise or extend business. But March and April ought to see a greater demand for money to help spring trade movements, and then we may see serious trouble because of the locking up of the currency in the government vaults. As we have all along pointed out, the fatal mistake of the administration was in precipitating a tariff debate before providing means by which the surplus could have been used to help the business of the coun¬ try. So the orators are at work chattering, the session is slipping away, and the businesa of the country is seriously interfered with. It will be the old, old story: Time wasted in unnecessary talk; then confused, hasty and corrupt legislation at the close of the session, vetoes by the President, finances left in disorder, and each party trying to throw the blame on the other. " Go forth, my son," said the sage, " and see with bow little wisdom the world is governed." ----------«---------- Public meetings ought to be held in every city in the country calling upon Congress to expeTJite legislation. Three months have passed and not a thing has been done. Wall street very fairly represents the attitude of the trade of the country. The operators do not know what to do, hence there are few sales of stocks and business is at a standstill. We have no press to represent the real feelings of our business public. The Exchanges would do well to origitiate these mass-meetings we speak of, so as to give Congress to understand that Its non-action is disapproved by the country. Let the surplus first be disposed of. It is then time enough to talk of so rearranging our tariff and tax laws as to prevent the accumu¬ lation of another surplus. --------^-t--------__ A speech made by Chauncey M. Depew at the Chicago Union League Club on Washington's Birthday gives internal evidence that the President of the NewYork Central Railroad would net object to being President of the United States, and would thank¬ fully accept the Republican nomination for that position. The speech is wise and witty, but evasive. It has not the boldness and suggeativeness it would have had were not the Presidential bee buzzing in the orator's bonnet, Mr, Depew might as well have spoken out manfully as he is wont to do, for he has no more chance of of the Presidency than he has of beiug struck by light¬ ning. Mr. Depew has made his reputation by the frankness, eloquence and point of his public addresses, and he does himself injustice in imitating Orator Faff, who had two tones in his voice, With the exception of Abraham Lincoln we have never had a really eloquent President, True, Buchanan was a trained speaker, but he was s^ cold-blooded a poliiician that he never committed himself ou any subject outside of strict party lines. What a pity we can¬ not have so able a man as Depew in the White Houae! What splendid messages he would write, and what wise and witty speeches he would make to delegations that waited upon him. -----------a----------- AU the advices from Washington agree that nothing is-ill be done this season to nationalize our telegraph system. The Western Union Company will retain its monopoly and Jay (Jould will have the quoting of prices from all the markets of the world. It is his employes who will have the first intimation of any change in the quotations of grain, cotton, provisions^e very thing, in short, that enters into international trade. A.U business and family secrets are to he intrusted toJayGould's servants. What tbe nation ought to do is to purchase the telegraph system for a fair price. All that Congresa is likely to do will be to put it under the oversight of the Interstate Commerce Commission, which already has ten times the work it can properly attend to. ----------•---------- According to the Commercial BitlletMs Washington corre¬ spondent there is not the slightest poasibility that Congress will do anything to rehabilitate our merchant steam marine, nor will tbere be any auxiliary navy called into life ; hence we muat drag along another year without any hope of seeing our flag on distant seas, or having vessels of our own that could become " commerce destroyers" in event of a war with foreign nations. Our seaport cities will also continue to be absolutely at the mercy of any foe. The creation of a fleet of steamships would be a great thing for tbis port, but our city presi very generally objects to the expendi¬ ture of government money for that purpose. Ifc will, however, be seriously proposed before the session is over, and then they can show their public virtue by shouting "job," "pork." Some day we will bitterly repent that we have not ships, harbor defences, guns, and a steam marine that would be a menace to foreign naval powers in event of war. The insane policy ot those who govern us is to leave us naked to our enemies. The Fisheries Treaty seems to be designed to postpone final action on some very grave points. We will always be in trouble with our northern neighbors while ifc remains a dependency of the British crown. There can be no real peace until we have absolute reciprocity in trade. Then, our railroad situation is constantly menaced by the rivalry of the Grand Trunk and Canadian Pacific systems. These are not amenable to the operations of our Inter¬ state Commerce law, and hence endless confusion in rates, with the prospect of irritating disputes over very vital matters. Indeed, the only real solution of our difficulties with Canada would be its annexation to the United States. That gordian knot, however, will probably never be cut except with the sword. A certain Mugwump city paper, which is very much opposed to James G. Blaine as a possible President, thinks that some provision should be made whereby able men, one of whom he certainty is, should be made Senators for life. Statesmen of his ability and knowledge of public affairs should be utilized for the service of the nation. This is worth thinking about, for in our present govern¬ ment our ablest men are excluded from the service of the nation. Mr. Blaine.-however, did not shine as a Senator; the arena for dis¬ playing his remarkable powers was in the House—there he waa without a rival. No one had any chance in a debate with him, and by his energy and eloquence he could confound and successfully antagonize any opposing party, however numerous. We have always thought that at least a hundred of our representatives should be chosen on a general ticket, under some minority representation scheme that would insure the return of the ablest men in both parties. If one-third of the House represented the best men of the country, instead of each man a district, there would be less com¬ plaint of log-rolling and the legislation would be for the country and not for the locality. The French people have very greatly improved the composition of their Chamber of Deputies by electing them on general tickets iu the departments rather than from single disiricts as in the old way. Our experience in this country is that the smaller the district the more disreputable its representative. Compare our Mayors, for instance, who are generally able and honest business men, with our Aldermen, who are nearly always quite the reverse. ^—.—«---------- The Philadelphia Times, in a leading editorial, tells of the forma¬ tion of a Manufacturers' Club, which it claims will he a very important organization, with branches in all parts of the country wherever there are large manufacturing interests. The objects of the club are thus described : Theobject of tbe Manufacturers'Club is two-fold. First, it proposes to make battle for its ideas of a true protective policy and to command unity of interest and effort in imprfsnng the presumed necessities of our manu¬ facturers upon Congress. Sicond, it proposes to make labor strikes prac- lienlly impossible by a cohesion of interests that will induce ail to espouae the cau-e of fellow manufacturers who are suffering from strikes, by a general lock-cii"; that will deprive striking labor from receiving support from others ia the same calling. Tliese are the chief aims of the Manufact¬ urers' Club. These are very desirable objects, from a purely selfish point of view, and undoubtedly if the manufacturers work together they will be successful. We have no idea that Congress wiil this year do anything to reduce the tariff so as to affect home industries. Then this will be a bad year for labor strikes, especially in those trades where the employers are organized. Even in good times "bosses "can hold their own againat striking workingmen when they pull together. The one advantage the workmen have had over them was in their unions, against which the employers worked each " on his own hook." Hence we think that this year the united manufacturers will be victorious, not only against the tariff reformers, but in getting the better of the trades unions, The Eeading corporation has won against the striking coal miners, and we do not see any prospect of a great strike being successful this year, because of the check given to railroad and house building, the depression of our iron industries and the general dullness in trade, due to a Presidential year, and the doubts about our finances, -------------a------------ But some victories often prove more disastrous than defeats, If