Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1868-09-16
Politics and Business.

Under this significant heading the
Philadelphia Daily Ledger, a paper
which has always had a strong lean
ing towards the Democratic party,
although protesting neutrality in pol
itics, published the subiOined very
important reflections on the present
position of parties, and the probable
consequences that will result to the
country from the election of Seymour
and Blair; and also the influence up
on the foreign and domestic credit of
the nation; uponh home industry, public
confidence, and private enterprise,
| ofthe election of Grant and COlfaX:
Politics AND BUsINEss-Never in the his
/ tory of the United States, not even when We
were struggling against the armed power OF
] the rebellion, was the prosperity OF our coun-
try more dependent than now upon the re-
suits of an election. IL Is not alone the
{ great principles of our government ana the
political results of the wal that are AT stake,
but the private interests of every INDUSTRY
Gus man, Of every laborer, every mercnaht,
and of every capitalist.
Imagine. for n moment, the effect of a
Democratic triumph. Pledged by the letter
Of General Blair to "diSpeTSe" with the pay
! onet the existing government OF the south
1 ern States and TO coerce the Senate INTO SUD
mission, nearly one half of the country IS 10
be thrown into anarchy and confusion, de-
prfNing that section OF the ablllty 10 CON
/ sumo our product or to pay the DEBTS which
it already owes. Tn loss 10 our community
from this single cause s"ouiu NC wei hiSh
Tbe election of m and Blair would,
moreover, he hailed as the triumph OF Free
Trade. The friends of protection would eve
rywhere be discouraged, and the enemies OF
our domestic industries would be melted TO
new efforts. Already, the clamors for a re-
duction of the tariff are menacing; with n
Democratic House of Representatives the
efforts now making, with n falr prospect OF
success, for an increase OF duties would pc
perforce abandoned, and our manufactures
would be Frustrated by depriVing them OF
the measure Of protection which they now
enjoy. Enlarged importations and conse-
auent outflow Of gold would combine IN In
VolVing us in ruin.
The financial disasters, inseperable from
Democratic success, would be even more po-
tent instruments of evil. Even before the
inauguration of a Democratic policy, we
should be involved in themoSt serious troub-
lie. The immense masses of our securities
held in Europe are a constant source OF dan
ger 10 us. Already holders there are giving
signs of u-neasiness at the Democratic boasts
Of expected victory. Should these boasts be
r~ealiZed-Shoul the American people en-
dorSe at the polls the New York platform,
and the Pendletonian schemes OF sgulSe
repudiation-a panic will naturally set IN
among all holders of American bonds. 1ney
will be returned upon us in vast blocks, TO
be paid for, of course, in gold. h sudden
and forced liquidation, involving a ruinous
rise of exchange and export of specie, Will
fatally derange our system, and
spread bankruptcy and failure everywhere.
Thus. even before the Democracy can COM
mence their assault upon the ~bondnoldefs,
the drain OF precious metals, and our shat
tered credit, Will bring business
interests.
AS for the bondholders themselves-the
special objects of the Democratic attack-it
is to be presumed that they already know
how to defend themselves. Their interests,
however, cannot be separated from those OF
the and blows aimed at them
strike equally the mechanic, the manufactu-
rer and the merchant. Our whole business
system repOses on government creolt, ana
when that is aSSailed we are all alike threat
ened with ruin.
on the other hand, should Grant and Col
fax be elected, the triumph OF the Ghlcago
platform at once strengthens our credit GU
bonds rise in priceand become a more faVor-
lite investment abroad than ever. Exchange
rules in our favor, and our gold Is kept az
home to accumulate until resumption OF
specie payments becomes possible. Business
reviveS on a sure foundation of prosperity;
while the prospects of stable protection TO
manufactures encourage new industrial en-
terpriSes, and set the wheels of trade moving
again. The coal and metal interests are re-
suscitated, and the millions OF new capltaI
now lying virtually u~nproductlVe again
WELD their due increase. The South, perma-
nently pacihed, turns its energies from pont-
ical agitation to productive industry Decohl-
ing once hlOIeh Sdilt anu pl1ltdblC
In place of endleA feverish excitement, the
nation reioices in Iiet and harmony. IL
readjusts its shatteres industries and starts
on a new career Of prosperity. Its nhahclal
burdens, so oppressive in a period OF stagna-
ton, become easily borne when every citizen
is proitably employed, and melt mperceptl-
Div away under taxation daily becoming
lighter to the increasing wealth of the COM
munity.
Throwing aside for the ONE all higher
considerations of political principles and
patriotism, such are the material interests
involved in the election. They appeal TO the
common sense of every bushes man, and
he must be short-sighted, indeed, who VIII
moi give. not merely his vote, but also his ac-
tive aid and sympathy in the good cause.