Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1872-08-14
Mr.. Greeley and our Business Pros

. ptclSs
Mr.. Greeley is now before the coun-
try as candidate for president in op-
" position to Gen. Grant. The party
line. are drawn. The records of the
l. two representative men are before the
country. The principles which each
uphOlds and defends are spread on
: those party pages, which open to
I every voter.
The parties which support the candi-
dates and present them for popular
acceptance are actively in the field.
Al this early stage, before the
passion and heat of strife shall have
clouded the popular mind, it is emil
,, nently proper that we should review
the effects of the election of either of
the two candidates upon the business
: prospects and interests of the country.
1t will not be denied that the great
mass of the intelligent business men
J OF the nation are supporters of the
Republican party, of its principles
and policies, and of the president.
! 1t is natural that they should look
with alarm upon any violent change
in our financial policy. This country
is not now in the condition in which
1t stood before the war. Our nation
al treasury is at present so intimately
connected with every business inter
est that the person who controls its
movements has an almost autocratic
power in his hands. Mr.. Guthrie,
secretary OF the treasury previous to
the rebellion, was i'll the habit of re-
ferring to the fact that q million of
dollars in specie, more or less, in the
treasury vaults, effected every finan-
cial and commercial interest in the
land, favOrably or otherwise. How
much more potent for good or evil
the movements of this important de-
partment of the government at the pre-
ent time! By stroke of the pen,
the secratary has now power to do an
incalculable amount of harm, or con-
fer an incalculable amount of benefit, !
upon every industrial and CONNER
eial interest.
But the public, especially the busi-
ness portion of it, at present knows |
what to expect from the administra- |
ton as respects its action relative to |
our business interests. It's policy has |
been sharply defined. Its practice is |
known to all men. From day to day /
the merchant, the banker, the manu-
facturer, or the agrieulturist knows |
what the financial movements of the /
government, on which those Of all /
other interests hinge, will be. He is
accordinly prepared to conduct his
operations intelligently, and without 1
lear of any violent politico-hnaneial
movements. He neither breads con-
traction of business on one hand, nor
is lead into wild speculatiOns by too
great an exspansion on the other.
The policy of the Republican party
has been to gradually reduce the pub
lie debt, without too greatly burden
ing industryi;''to reduce taxation as
fast as the necessities of the case will
admit. to keep the volume of currency
at a standard level, neither increasing
nor diminishing it so rapidly rs to
readily shock the business of the
country to reduce the tariff as rapid
ly as possible, in eonsonance with the
industrial and commercial Interests
generally, but not so low as to place
Americans at the mercy of foreign :
factors: 10 gradually appIoach specie
basis, but not one hour before the bus
iness interests Of the country and
the state of the domestic and foreign
exchanges will permit. j..
Under these wise rules, and by an {
intelligent and efficient practice of
them, the United States has been {
highly prosperous. The people know 4
where they stand, and where the adj '
ministratiOn stands on those questions '
most vital to our prosperity and to '
the stability of business. They are {
assuI ed as respects the past and pres {
ent. All that can trouble them is I
that which relates exclusively /
to the future. IF General Grant is 8
elected, the country will move on I
steadily and prOsperously as before.
That much is certain. If Mr. a
Greeley and his motley, pIebald fol- S
lowers should come into power, as re- L
spects our business prospects chaos, for ?
aught we know, may come again. Z
And this is exactly how the case a
stands,
b tits useless to say that Mr.. Greeley b
will not run counter to the will of n
the people. If he does not, It will be Il
for the first time in a long life. He b
IS known to hold some of the wild I
est and most contradictory theories ii
IS respects the management of the C.
In one and the same breath b
be recommends a return to specie al
payments and deDlentiOn of all the il
surplus gold in the treasury depOsito. n
lies. This would be as If a banker bl
who expected a run for gold should Il
ell all the stock he had on hand, and gi
depend on the generous confidence of is
he public for safety W
Mr.. MeCulloch said the way to pl
,ring about specie payments was by of
contraction. He had the power to m
orce his policy upon Congress. 1t dc
vas only abandoned after some of the =
most important industries of the ma bi
ion were imperiled, Nj. Greeley is a
more positive man than Mr.. McCul-
och. More than this, heis politician, Gl
nd knows how to use the adventitious fr,
id of government patronage and its DE-
ewards and terrors in order to carry in
lis point. .. on
The country cannot now afford any ev
rifiing with its material interests no
nth its thousand industries on land fh.
nd sea; its railroads, its manufactu- STR
Is, its great mercantile marts, by 90
rying the experiment of placing q wi
and sophistical theOrist eol
t the head of an administration esl
-hich can lock or unlock the gate nal
nat leads to national pro, perity at an
ny moment Such trif1ing would be tri
madness" indeed. an,