New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-10
VICTORIES THAT HELP BUSINESS.


were Democratic ; they sustained the calamity
walters 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 National 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 the industry of the country is often lnten-
tionally misrepleSented. 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 coln-
try vas at the highest point of business activity
vet attained, and produced immediate and severe
reaction The election of legislators which were
expected to make war upon railroads and other
investments could not render securities more at
tractve When railroads cannot sell securities
production in the iron manufacture and other IN
dustIies is sure to be checked. When investors
know not if they are to be robbed Of part of their
investments they are always more timid and
cautious about the rest, and so individual enter
prise is checked These results plainly and
swiftly followed the Democratic and Alliance
victory in Western States last fall.
Equally sure are the consequences of tri-
umph of the Democratic National policy. That
party has voted stubbornly for free coinage OF
silver and Free Trade. All over the world its
victory last year was interpreted as foreshadow-
ing change of the National policy in these re-
spects A host of manufacturers drew back from
IN icb fhoy IN N
| vest and waited An unusual number of for
eign manufacturers and investors were in this
country at the time, contemplating removals OF
works or purchases. Most of them went back
to do nothing, convinced that the new tariff
would not last year. "A great part OF the
| benefits which should have been realized within
a single year was thrown away by senseless
voting last fall. But this year the people have
so magnifcently sustained Mckinley in Ohio,
and have made such splendid Republican gains
in other Western States and in Pennsylvania,
that even foreign organs admit that 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 enterprise. 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
| Presidential election. nor can it then if Presi-
dent Harrison should be reelected, or if Mr..
Cleveland should stick to his past dec aration.
The more money fanaticism has again been met
| by the Republican party, and as the Ohio vic
| tory in 1875 was the precursor of victory in
1876, so the triumph in the same State this
year probably heIads another triumph for the
cause of honest money in 1892.
These changes ought to 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 Nation, is immeasurably better than it
was year ago, and that change alone ought to
be worth countless millions to the business OF
| the country.