Image from page 147 of "Review of reviews and world's work" (1890)

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When: 01 January 1890

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Identifier: reviewofreviewsw06newy
Title: Review of reviews and world's work
Year: 1890 (1890s)
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Publisher: New York Review of Reviews Corp
Contributing Library: Robarts - University of Toronto
Digitizing Sponsor: University of Toronto


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calamity. But we must continue to witnessthese local wars until the State faces existing indus-trial conditions with courage and intelligence, andprovides peaceful remedies for the grievances thatnow lead to violence. Riots must be suppressed atany cost, and the supremacy of the State must bemaintained. But eventually the State must turnfrom the outward symptoms to a treatment of thedeeper causes. j^^ It is all very well to talk of individual Anti-Option rights, of the freedom of contract, of the■ value of competition, and of other ele-mentary principles. But it is not so well to ignorethe revolutionized conditions under which such prin-ciples have to work. New problems may requirenew solutions. As we reasoned last month, federatedcapital and federated labor make possible a sort ofconflict that can only be averted by some such newremedy as official arbitration. In like manner, mayit not be possible that the huge excrescence on legiti-mate trade, know^n as short-selling or dealing in

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HON. WILLIAM D. W^ASHBURN, United States Senator from Minnesota. THE PROGRESS OF THE IVORUX l.ir, futures and options, may justly and wisely ])o.subject to official remedy? Selling limitless (juanti-ties of wheat or cotton that the seller does not posstissand that the buyer does not expect to receive, is acomparatively new thing under the sun. It subjec;tsthe market for staples to the most capricious fluctua-tions, and envelops that most fundanunital and con-servative of avocations, agriculture, in a new and inju-rious atmosphere of chance. The farmer has come toregard the moves of the plungers on the Board ofTrade as of more concern to him than either carefulhusbandry or favoring skies. Knowing when thecomer is going to break, and therefore knowingwhen to sell, has come to be the chief thing in the artof agriculture in many a farmers mind. We weretold some months ago, and credibly, how pervasiveand ruinous was that form of gambling that theLouisiana lottery had propagated broadcast t


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bookidreviewofreviewsw06newy bookyear1890 bookdecade1890 bookcentury1800 bookpublishernewyorkreviewofreviewscorp bookcontributorrobartsuniversityoftoronto booksponsoruniversityoftoronto bookleafnumber147 bookcollectionrobarts bookcollectiontoronto

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