Please note: this text may be incomplete. For more information about this OCR, view About OCR text.
AprU 4, 1885
The Record and Guide.
THE RECORD AND GUIDE,
J^tbli.'shed every Saturday.
191 Broadway, IST. "!r.
ONE YEAR, in advance, SIX DOLLARS.
Communications should be addressed to
C. W. SWEET, 191 Broadway.
J. T. LINDSEY, Busmess Manager.
APRIL 4, 1885.
NEW VORK CITY.
Sales of the Week.
Assignments of Mortgages.
Satisfied Mechanics' Liens.
Alterations of Buildings.
All General News about Real Estate and
Proceedings of Board of Aldermen and
Board of Assessors Affecting Real
Building Material Maricet and QuotaÂ¬
Westchester Co. Convej'ances.
Assignments of Mortgages.
Satisfied Mechanics' Liens.
Alterations of Buildings.
Lis Pendens. -
All General News about Real Estate
Essex and Hudson Co.
The liusiiiess outlook is not particularly promising. Tlie price of
iron and steel is again lower, stocks are depressed, the gi'eat railway
systems are at war, and the price of our national products which
we sell to Europe was never lower. There is Uttle it any profit in
business. The only exception seems to be real estate. There is a
fair amount of building going on, and our auctioneers had never so
much to do. But then, land and labor are always the last to go up
in value as well as the last to recede. The time for real estate to
show a falling off may not come this year or next, and should
business revive in the meantime it may not come at all.
The troubles in Central America show the measureless folly of the
American people in not keeping up its navy to a reasonably efficient
standard. One modern ironclad could blow our whole fleet out of
the water. We have, it is true, some few old wooden hulks ofif the
coast of Central America, but owing to the parsimony of Congress
there are only sufficient seaman available to man the vessels. The
commander of the Galena was powerless to protect American propÂ¬
erty as he hadn't a marine to spare. There is reason to believe that
the troubles were fomented by British and Frencli agents to give
an excuse for the occupancy of the Isthmus by the military and
naval forces of these two governments. Once in control there will
be no dislodging them, for they could laugh at our remonstrance in
view of our contemptible weakness as a naval power. Our ill-timed
parsimony and want of national spirit in the past is destined to cost
us hundreds of millions of dollars as well as submit us to unspeakÂ¬
able national humiliation.
The following press dispatch from Rome was suppressed in most
of the papers yesterday, but was allowed to appear in an obscure
place in two of the daily journals. Yet the news it communicates
is of the utmost importance to the business world. We quote :
" The Italia, in an article on the monetary conference, says that Signer
Depretis, the Prime Mmister, and Siguor Magliani, the Minister of Foreign
Affairs, have decided in favor ot bi-metallism. The acceptance of this
principle, it adds, depends upon neither France nor Italy, even though
Belgium aud Switzerland consent. The solution ot the problem depends
upon Germany, whose acceptance is hoped for under pressure from France
Italy, it will be remembered, resumed on a gold basis some three
years ago. This step produced great financial distress and a heavy
emigration of poor people from Italy, many of whom came to our
own shores, and with the exception of the Chinese were the most
poverty stricken and miserable of all the strangers that landed upon
our coasts. The experience of what gold resumption meant was
not lost upon the Italian statesmen, and they are now trying to
re-establish bi-metallisiu. Should France, Germany andthe United
States combine in agreeing upon a ratio between the two metals,
and permitting the unlimited coinage of both, the business situaÂ¬
tion in every country would change as if by magic. With silver
restored to its own place as a measurer of values jointly with gold
there would be a rise in prices at once, and an assurance of a
further advance which would stimulate every industry. Nothing
naore would be heard of overproduction, for consumption would
quickly "catch on" as soon as labor was employed at remunerative
But wUl Germany consent to rehabilitate silver? Everythiug
depends upon Bismarck, who thus, by a strange chance, has the
business future of the whole world in his hands. He personally
acknowledged to Congressman William D. KeUy that the demonÂ¬
etization of silver by Germany in 1873 was a sad mistake, into
which act he was betrayed by the doctrinaire political economists.
The step once taken, however, it may be difficult for him to change
front, for of course the powerful banking interests of Germany, in
other words, the owners of capital and lenders of money, are in
favor of a scarce and dear currencyâof a standard of value, in
short, which will greatly and steadily augment the purchasing
power of the money in their possession. It is this powerful class
who, to-day, as in all ages, are the enemies of all engaged in proÂ¬
ductive enterprises or who live by the work of their hands.
How incomprehensible is the attitude of the city press toward
Mr. John Roach, the great shipbuilder. His work is of a character
of which his countrjTnen should take a just pride, for the steamÂ¬
ships he turns out under great disadvantages are of the highest
credit to the country. Having recently completed an armed vessel
for the navy he presented his bill. Secretary Whitney, new in his
office, naturally wanted some little time to look over the items, but
the comments of the press gave the impression somehow that Mn
Roach was a burglar, and that he had come with a "jimmy" to
pry open the Treasui-J doors. Of course when he does work f^-^-.i-;^
government or any one ei?e ^le "" , make a profit J)
probably looks out to get as IL"^ enough^^'d for his skill a^enced td
prise as other investors do in the various fields of businef"'^^ "^UJ'.
Should we have war, Mr. Roach's experience and dockyai^.^ ould
be worth untold money to the country. But instead of being enÂ¬
couraged in the task of supplying noble ships to his country every
miserable cur on the press is yelping at his heels.
Mr. Cleveland has been much commended for his nominations to
office; partially, perhaps, because he selects men who are comÂ¬
paratively unknown, and of whom, therefore, little of evil can be
said. While one-half the country is bound by the dictates of party
loyalty to praise, and the other half really knows nothing to conÂ¬
demn, he must remain secure of either ostentatious approval or the
silence which gives consent. But, diplomatically considered, one of
the appointments of Mr. Cleveland must be regarded as a mistake.
He has appointed a German-American citizen to be Consul-General to
Berlin. This seems like a very proper thing to have done ; and had
we only enough of the foreign contingent to go around he might
have sent an Englishman to London, a Frenchman to Paris, a Turk
to Constantinople, and so on thiough the different capitals of
Europe. But Prince Bismarck hates a Gei-man-American as a
deserter from the imperial army and cause ; and to send a German
with an American affix to his nationality and an American flag in
his pocket as Consul-General to Berlin is a direct challenge to the
patriotic Chancellor. Ten chances to one he wiU regard Mr. Fred.
Reines as a sort of emigration agent in disguise, a lay figure to disÂ¬
play the garb of distinction which all German-American citizens
are enabled to wear. This appointment, together with that of Mr.
Edmund Jussen to be Consul-General at Vienna, should be good for
one hundred thousand newly imported German voters when Mr.
Cleveland is again called upon to solicit the suffrages of his counti-y-
men. But this is a political consideration which Bismf jk will
President Cleveland's theory of his duty in making appointments
is a curious one. In the first place the candidate must be a lawyer.
This is a rule from which he has not departed except in a very few
instances, and then in no case must the appointee be an active or
prominent Democrat, one who has sacrificed his money or his time
for the good of the party. If this policy is continued it is easy to
see that it will result at the next Federal election in giving the
House as well as the Senate to the opposition. Politicians %vill not
make personal sacrifices without any hope of reward. It must
be that Mr. Cleveland has given up all hope or care for a
second term, and that he is determined to give the country good
officers who are not active politicians. The latter he must regard
as a bad lot from the way he is treating them. He probalily has
made up his mind to do what he regards his duty as the Chief
Executive, and if the people of the United States do not like it they
can go their way and he will go his. He commenced by antagonizÂ¬
ing the majority of his own party on the silver coinage question,