New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-18

THE VOTERS IND THEIR INDUSTRIES.
Wall Street and Lombard Street make answer
to the recent elections, and not an encouraging
answer 1t has been said that these elections
in so far as they mean anything regarding the
future policy of the Government, indicate that
many farmers and labOring men are not con-
rented with measures thus far adopted for their
benefit. and think that land loans or Sub-Treas-
ury advances for farmers, free silver coinage
eight hour laws, exclusion OF immigrants more
severe antitrust laws, and in general lesls'
lation for the immediate advantage OF the pro-
Queer and against capitalists, money lenders
railroads and corporations, would be benenciai'
Undoubtedly such feelings influence many VINO
do not SEQ the interdependence OF different eie-
ments in modern society. fall in stocks as
trust of capital, and drop OF IL cents III tne'
nrice of wheat within two weeks, are some OF
the consequences.
For this interdependence is more absolute
than the dissatisfied voters imagine. when
great London banking house requires assistance
to the amount of $50, 900, 900 or more to pro-
tect its liabilities, and large firm OF brokers' al
New-York fails for $40, 600 or more, some
ignorant farmers and workingmen fancy that
thew are somehow benefited. But 1t was not
the failure of Jay Cooke which finished the
Northern Pacific and made the Dakotas, Mon
tana. Idaho and Washington possible. Neither
will the failure of firms interested in the North
ern Pacific or the Atchison or other great rail-
roads now contribute in the slightest degree TO
help farmers or workngmen. Let 1t be sup
posed for o moment that the logical conse-
ouences of recent votes should follow, unre-
strained Nv a well-grounded confidence IN the
sober thought of the American people; what
would be the effect?
Bankers and capitalists would not want to
buy stocks of new or even of old roads, ware
houses mines, or other corporations, IN the
States controlled by such sentiments. The ROADS
that now exist would go bankrupt, and, unable
to compete with success for larger traffic, would
he forced to charge shippers along their lines
enough to pay the running expenses, which
would mean q great advance in rates. Every
acre of farm land which depends upon distant
markets for its crops is made less valuable by
an increase in cost of transportation. II the IN
crease is five cents per buShel, on wheat land
Welding twelve bushels to the acre. good years
and bad. the difference is the yearly interest,"
ON $40 per acre. Most of the farms OF the
Northwest would be utterly impossible but fol
the uast investment Of capitalists in railroads
and would soon become Improbable wlthou'
continued investments. But in the face OF .
hostile Legislature who wants to invest? Wher
CAPITALISTS put no more money into railroads
| and mines and mills, in large secuon OF
country. the demand for iron and machner!
and for labor suddenly shrinks. The workers
| at the iron mills are invited to take lower wages
or else to work fewer days in the year. Ihou
sands are no longer needed, and when TN
mechanic or other laborer finds these thousands
irving to get work by Offering to take lowe
wages than he receives, he in turn has to share
the loss. The arrest of development means los
of W. rk and of wages to millions OF wage
| earners all over the land.
The voters who are said to have opposed th'
Republican policy because not satisfied with 1t
if they should reap exactly as they have sown
would find that they had voted not for better
but for worse times. They were not conten
with the blessings which protection and rapl'
industrial development were bestowlng upon tn
land. to he shared by all its citizens according
IN their capacity and merit. Hence they vote
IN cut off those blessings. The golden egg
wore not satisfactory, because some other peopl
obtained part of them. To remedy the matter
these voters attempted to kill the goose by whlc
the eggs wero laid