Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1880-10-18
From the New York Mail Oath. }
The Wall Street Barometer.

The most notable and significant feature of
the grandest political parade ever, seen any
where-that of last Monday night, in this city
was the very large number of well-known
and prominent merchants, bankers and brok-
ers who were carrying torches or lanterns.
The extent of this demonstration astonished
even those who had charge of the prepare
tons for the parade. The number of those
to whom we have referred who enrolled them
selves during the few DAYS preceding the pro-
cession, and their business standing and in
fuence, was great as to prove a Tidal
wave of strong sentiment against "a change"
that could only be resisted by men of very
strong prejudices.
As the large corps Of bankers, brokers and
merchants marched with steady and even
step, ''to the music of the Union," along our
two fashionable avenues, their familiar faces
vera greeted with resounding cheers of en-
thusiastec recognition, and all republican
spectators were thrilled with the evidence
that at last Northern business men have
learned that the best way to avoid danger is
not to yield cravenly to those from whom,
danger is feared and by whom it is threat
ened, nor to shut their eyes to real perils and
ignore them.
This marks an epoch in our political his
tory. For ten years before the war our bust
ness men. as a class. were ready to yield their
convictions whenever the South got mad
about Northern objections and protests
against her schemes of aggrandizing her
power. They paid dreadful penalty for this
cowardice and wickedness-in repudiated
debts and burdens of war taxation, if in no
other that they would recognize.
All this has changed. There is. among
nearly all of our business men. a sentiment
that teaches far different, safer and wiser
policy. 1t is that the party and the people
who saved the Union from the deadly assaults
of the only section that ever threatened it,
must rule it, until, at least that section
ceases to make it ''solid" by fraud, terrorism
and violence and then to make that solidity
the basis of a desperate game for powor.
The effect of the business mems demon
stration of Monday night naturally was to
beget dawning confidence that the party
which demands ''change" and gives no
reason for it, would be beaten. 1t was felt
in the largely increased volume of transac-
tons at the Stock Exchange on Tuesday.
when the sales were 1874, lis, against only
l2O. 1Ss shares on Monday, and a little over
a hundred thousand shares on Saturday and
Friday preceding. Prices stiffened and the
whole tone of the market was better. The
total sales rose to the enormous figure Of
250,sl4 shares.
But still there were not many who antici-
pated the decisive republican victories in
Ohio and Indiana, in spite of the assertions
of the ten thousand ''I-told-you-so's" who
showed their unveracity yesterday. What
helped the market was the feeling that bust
ness and capital, at this centre of both. had
acquired a full sense of the situation and the
pluck to face it with aggressive determine
ton. The revelation Of that was full of
promise for November. to the friends of good
government. good money and good times.
Yesterday. however. when the full glory
and magnitude of the Western victories came
like burst of sunshine out of stormy clouds,
the Wall street barometer revealed the relief
that was felt by those who have property and
business at stake in the great struggle. A
healthy and stirring excitement warmed up
the Stock Exchange, and values came up as
naturally and swiftly as the Western corn
under June sun.