The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-19

! InausnceA by tho Late Elections.
There are unmistakabls evidences on all
sides that the result Of the recent State cleo
tons has had the effect of greatly strength
ening the public credit by improving the
political prospect before the country. The
advance Of more than two per cent in i've
twenties last week Of itself affords almost
conclusive proof on this point, while the
upward impetus which has been impaired
to the border State bonds, as well as to
securities Of all kinds, goes to confirm this
view Of the case. 1t is clear that the people
look upon the election of General Grant as
guarantee Of peace and political tranquility
North and South; whereas If the fortunes
of Seymour and Blair had been in the ascend
ant they would have had grave misgivings
as to the future of the nation and feeling Of
depression would have crept over Wall street,
and especially the market for government
securities, while gold would have risen as
rapidly as it has recently fallen. The votes
of Pennsylvania, Ohio, Indiana and Nebraska
last Tuesday have therefore exerted powerful
influence for good upon the financial and COM
mercial interests of the country. The result
has inspired confidence where hesitation pre-
viously existed and its full effect has yet to be
witnessed. The quick response abroad to
the advance in the fve-twenties here shows
that the influence of the popular voice as heard
through the ballot box is not confined to our
own land, but is potent for good among the
nations of the Old World, where we are better
known and understood than we were before
the war developed our national strength and
manhood and the enduring strength of repub-
lican institutions.
The general trade Of the city and country is
moderately active for the season, but there is
a prudent desire manifested to avoid over
trading, and this conservative tendency is an
element Of safety AS we near the time for
the Presidential elections falling off in whole
sale business of all kinds is to be expected,
owing to the partial diversion Of large bodies
of men in the aggregate from their ordinary
pursuits to participate in the excitements Of
the campaign. But following its termination
renewed activity may be looked for, and there
has never of late years been time when busi-
ness men had less occasion to regard the
future with anxiety or alarm. The movement
of the grain crop in the West is just now
rather slow, owing to disposition among the
farmers to hold back for higher prices,
but the harvest has been abundant and the
supply of cereals yet unmarketed is very
large-a fact to which, together with the de-
cline in gold, the recent fall in prices is at
tributable. The cotton crop, too, promises
well, and the aggregate will probably not fall
far short of two millions and half of bales,
for our surplus of which there will always be
good foreign market, Notwithstanding the
increased supply Of the staple from India.
Trade, finance and politics are 50 intimately
in. interviewer, especially IN tbs country, that
what favorably affects the one cannot fail to
alphabetically influence the others, and hence
it is that while our financial prospects
have been improved by the recent republi-
can majorities in the States mentioned,
trade has also felt the effect by inspiring the
business community with confidence in the
stability of our financial system, and conse-
quently Of the entire superstructure, and this
will gradually develop itself in the growth of
enterprise and an enlarged prosperity. We
can see no breakers ahead at present, while
there is much to reassurc the timid but in
ordinate speculation, either in Wall street or
elsewhere, should be carefully guarded against
as one Of the dangers of the time.