The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-01-12
SCHUYLER coLFAx pnopuEsrEs
A Republican President and Depres.
sion of business IA the Near Future.

ST. LOUIS, January II -Ex-Vice Presi.
dent Colfax, speaking toa reporter today,
said: ~ suppose it will be hardly news to
you il tell you that the chances for tine
election OF u Republican President are not
so good as we might desire. We did not
carry SO many States at the last election as
the Democrats; still, do not look upon the
situation as desperate by any means"
"You think the Republican Party can
recover from the disasters Of last Fall?"
"These disasters were blessings in dis
guise. There was much bad blood Within
the party. They had to fight it out, and it
was well that the fight occurred in an off
year, when the evil results OF discord were
OF comparatively minor consequence. The
party now sees clearly that it cannot win
without harmony. 1t is generally under
stood now that the party cannot be sue
cessful with q candidate who has taken an
aggressive part i'll the iaCtional fight, and
the next nominee will have to be u man
who has not been actively engaged in the
Stalwarthalf.breed controversy.
"Where are you going to find such a can
didate"
"rhere are three men know OF who
would receive the support OF the whole
party-Ben Harrison, Of Indiana, who, you
know, was recently indorsed by Mr.. Blaine;
Robert Lincoln, OF Illinois, and Mr.. Win
dom, Of Minnesota. There are others, but
any one Of these could get the nomination
and | believe, be elected.
"But have they not been more or less
identified with the lactiOnal fight ?"
"Not agressively SO; not sufficiently to
lose the support OF the most ardent parts.
an OF either Republican faction"
is not the time rather short for the
party TO recover from its late disrupted
condition."
-:.'Ithlnk not. Movements in politics are
like those OF the pendulum; first it takes a
swing up one way and it has 10 come back
again"
"But the Democrats think the pendulum
has had twenty years swing in the Re-
publican direction, aud that last fall itset
in for another twenty years swing in the
Democratic direction. 1t has to swing
even, has it not?"
~ can't help thinking that they are mis-
taken. 1t is going 10 bea hard fight, and
the Democrats will have better chance
next year than for many years to elect Il
President. Still, believe that the Repub.
lican party will succeed"
"WhNt do you think OF the commercial
condition ofthe country?'
"a season Of stagnation is awaiting Us,
Next Fall will see the country suffering
from sLringency."
How do you account for this?"
"There are four leading reasons. The
change in the balance OF trade, which is
now against US; the low prices We are get
ting for our crops; the extravagance. OF the
people las: year, and the very extensive
building OF railroads. Money put in rail-
roads is not like money invested in manu-
facturers, which, il the investment does not
prove profitable, can be reinvestcd else.
where. Railroads once built have to re-
main, whether they prove profitable or not.
| would say in connection with my predic-
tion that there will be financial stringency
in the fall, that the reasons causing it are,
Of course, acting now, but this is dividend
paying season, and the money thus poured
into the country is giving temporary re-
lief, which will pass away in few months.