Huntsville gazette., 1891-12-05
THE BUSINESS OUTLOOK.
Republican Triumphs Herald National
Prosperity.

Prosperity.
A year ago the political results and
the crops were democratic; they sus-.
tanned the calamity-wailers and helped
those who bank on public disaster
This year the crops and the elections
back up the republican party, which
believes in national prosperity and
seeks success only by promoting ma
tional prosperity. If good fruit comes
from good soil the outlook for business
and industry ought to be vastly
brighter than it was year ago.
The influence of political results on
the trade and industry of the country
is often Intentionally misrepresented.
But in this case there is not much room
for honest dispute about it Last
years triumph of the free traders, the
calamity walters, the property -haters
and the more-money fanatics, came
just when the country was at the
highest point of business activity yet
attained, and produced immediate and
severe reaction. The election of legis-
lators which were expected to make
war upon railroads and other invest
ments could not render securities more
attractive. When railroads cannot
sell securities production in the iron
manufacture and other industries is
sure to be checked. When investors
know not if they are to be robbed of
part of their investments they are al
ways more timid and cautious about
the rest, and so individual enterprise
is checked These results plainly and
swiftly followed the democratic and
alliance victory i'll western states last
fall.
Equally sure are the consequences of
a triumph of the democratic national
policy. That party has voted stubborn
ly for free coinage of silver and free
trade. All over the world its victory
last year was interpreted as foreshad
owing a change of the national policy
in these respects. A host of manufac-
turers drew back from the new works
in which they were about to invest and
waited. An unusual number of foreign
manufacturers and investors were in
this country at the time, contemplating
removals of works or purchases. Most
of them went back to do nothing, con-
vinced that the new tariff would not
last year. A great part of the benefits
which should have been realized with
in single year was thrown away by
senselcss voting last fall. But this year
the people have so magnifiGently sus
tanned Mckinley in Ohio and have made
such splendid republican gains in other
western states and in Pennsylvania
hot nd hot
the reversal of protection is no longer
sure and will in any case be delayed
The fact is that the Ohio election means
a solid western vote for the republican
party on national issues.
The fear of unlimited silver coinage
has hung over the land all the last year,
hindering all business and all enter
prise. No man can say how far it has
contributed to cause the hesitation or
depression that has been seen. But
this year the decision of Ohio and the
collapse of the alliance in western
states make it plain that free coinage
cannot be carried until after the pres-
Dental election, nor can it then if
President Harrison should be reelected,
or if Mr.. Cleveland should stick to his
past declaration. The more money
fanaticism has again been met by the
republican party, and as the Ohio vic
tory in 1875 was the precursor of vic
tory in 1876, so the triumph in the same
state this year probably heralds an
other triumph for the cause of honest
money in 1892.
These changes ought t1 be realized
in business circles and by capitalists
The conditions have greatly altered
within the last year. Things they had
most reason to dread have been swept
from the field of possibilities, at least
for some years to come. The prospect
for maintenance of honest and wise
laws, both in the states and by the ma
ton, is imme asurably better than it
was a year ago, and that change alone
ought to be worth countless millions to
the business of the country.-N. Y.
Tribune