Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1886-10-16

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Republican origin and support and
their enactment YVES opposed by the
Democrats at every step. The threat
whichdemocratic success carried with
it, that the theories and policies of
that party would be enforced, and
the basis to which all business had
been adjusted would be disturbed,
and operated to incline capital from
the active channels of trade and
enterprise. 1t was natural that this
should be so. Capital is sensitive.
It wants to know upon what it has
to build before it embarks in indus
trial undertakings, and when the
fact was presented that the party
which had opposed the legislation
and the policy which have built up
our industrial system, restored the
credit of the government, and puri-
fed and solidified on! financial poll.
| cy, had been advanced to power, the
question came up legitimately what
does this meant Is it the purpose
of the party topractically enforce its
theories rs to finance, currency. tar
iff duties and the like interests,
which reach to the foundation of our
whole commercial and industrial
fabric, and to chagge the basis to
which the business of the country
has been adiusteds The President
was known to lean to the policy OF
tariff for revenue only. He was in
sympathy with the importing inter
ests of New York. His chosen Sec
rotary Of the Treasury was upon
record as revenue reformer,"
which simply means a direct road to
free trade. His Secretary OF State
entertains similar views. The choice
of the Democratic party for Speaker
of the House of Representatives was
shown to be for free trade in theory.
The important committees of the
House were organized to give en-
phasis to that sentiment. The whole
tend of the influences put in motion
uuder the new administration, point
ed to a radical modification of our
custom laws and a ruinous change in
the policy of the government relating
to our industrial interests. These
considerations were not overlooked
by capital. 1t felt it was time to
hesitate-to wait until some tangi-
BILE evidences were adduced to show
whether their fears were background.
ed. All public enterprises realized
that there was uncertainty and dolbt
as to what would come next. Then
followed the Morrison tariff bill,
which recognized the principle of
free trade and was as near % decla-
ration of that policy as it was safe
to announce in the presence of the
trembling disturbed relations ofcap.
ital and industry. These influences
operated upon investments. Money
felt safer in the banks. 1t retired
from the active channels of trade,
and thus stagnation and paralysis
followed. Not until the test was
made in Congress as to the policy
thus forshadowed, was there relief
felt. When 1t was found that the
Democratic party, even with the en-
enlargement given by the President
and his administration, could not con.
troll legislation-that few Demo-
Gratis in the House united with the
Republicans, and Republican Sen
ate we're strong enough TO arrest the
purpose and defeat the policy OF the
truly representative element of that
party, then, and not until then, was
there q partial return OF confidence.
But the harmful effects OF the tears
entertained could not be removed.
They have been felt in the country.
They have reached every avenue OF
industry, and to-day there is more
idle labor, more ANXIOUS inquiry as to
what the winter will bring to hum
BILE homes, and more anxiety for the
present than has been felt for years
past. These are some Of the reasons
which have caused the people to
think and to ask themselves whether
they are in duty bound to follow tho
lead OF partizan managers regardless
of consequences-to endorse and
support that which they know must
bring injury upon themselves and
their children and operate to stag.
nate the business interests Of the
country. They want to hear these
matters discussed calmly and ration.
ally, for they relate to the present
and future, and are anxious to learn
which of the two parties is right in
its policies, rs they effect the homes
and pockets Of the great masses Of
the people.
For these reasons there is less Of
Ipartizan feeling, less of inflamnIa-
tory excitement. less Of insane sen.