The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-11-23
BUSINESS AND AN EXTRA SESSION.

BUSINESS AND AN EXTRA SESSION.
The Cleveland party is divided on the
subject of an extra session Of congress to
be called in March next. The ablest free
trade organs, like the New York Egenfng
Post and the Boston Herald, argue earn
estly in favor of an extra session. They
say fairly that ''if We were sincere in our
campaign argument that the Mckinley
law is robbing the farmer and the work
ingman, why force the farmer and the
workingman to endure two years more Of
such extortion?" The ablest Republican
papers favor an extra session, on the sound
ground that uncertainty as to the Demo-
cratic policy concerning the tariff is sure
70 produce timidity in business circles;
that capital will refuse to extend its VEN
lures until it knows exactly what the
Democratic Fifty-third congress means to
do with the tariff and with finance.
On the other hand the regular Demo-
cratic organs support Cleveland IN his
present determination to call no extra ses-
sion of congress. This division of opinion
points TO domestic struggle within the
Democratic lines when congress meets in
December, 1893. If congress does not meet
until December, 1893, a new tariff repre-
senting Democratic views, and new
Democratic financial treatment Of the sil-
yer question will not go into operation be-
fore December, 1894, SO that by the policy
of Democratic evasion and procrastination
the country will have at least two years
longer of the Republican policy in tariff
and finance.
"Mr. Cleveland is too sagacious to call
an extra session to deal with the tariff
We are told. He prefers, We suppose. &C.
cording to the argument of the Demo
cratic campaign, to let the Republican
Mckinley tariff rob the farmer another
two years. The business of the country is
already beginning to feel the injurious
effects of suspense. Merchants will not
buy heavily when a reduction of duties
may lower the value of their stock.
Manufacturers will not make goods at
high wages 10 be sold at rates that may
be reduced through European cheap labor
competition. Wool buyers are already
| grown timid; so are glove manufacturers;
manufacturers of knit goods. During
| the year to come it is certain that no
| investment in manufacturing will be made
| that can be avoided. New machinery will
| not be purchased nor business extensions
made. Business will not decline by sud-
| den shock, but by slow eob As business
| men gradually take in sail to meet what is
| at least threatening weather. The sound
| est commercial organs of both New York
| and Boston call upon 1.-The president-elect
| TO summon congress in special session at
| the earliest possible moment that there
| may be some definite basis to business"
| At present it is impossible TO tell what
| the Democratic congress will DO with the
tariff, but the Cleveland organs of the East
seem to believe that the promise of free
raw materials to the manufacturers will be
| kept; that wool. coal and ores will be at
| once placed on the free list. but until con-
| gress shall take up the question, business
| will be III a state of doubt and speculation.
| In tie regular routine the Fitty-third con-
gress will not meet until year from next
I
for work before January, 1894. From
| three to six months will be taken to frame
! and pass such tariff legislation as NAV he
| agreed upon, and it would not be until far
into the summer of 1894 that business men
would know the economic policy to whose
| conditions they would have to conform.
Thus there would be n period of uncer-
4 g. 81 3,-,-, -. L
| business would run from hand to mouth.
and trade and industry would languish.
This situation can only be avoided hy
| calling an extra session Of congress. The
sound business men of both the great
parties will surely unite in urging upon
! President-elect Cleveland that to prolong
;his situation of business uncertainty an
! hour longer than necessary is an injustice
and an injury 10 the commercial interests
| Of the whole country, for until the new
| congress decisively shows its hand on the
| tariff buyers will only purchase for inn
mediate necessities: nobody sill buy full
stocks. and everybody would take counsel
Of prudence and wait.
The effect of this uncertainty has al
ready begun to show itself Recently il
was stated in the Albany, \. Y, Eyeaiuq
.I0urnn! that the Lee Manufacturing Com
panv. of New York. had leased g building
al Amsterdam, \. V, aud would soon en-
| gage in the manufacture of knitted goods
The building has been put in order. but
since the election Of the advocates Of free
trade. Cleveland and Stevenson. the firm
has decided not to commence business.
one ofthe firm says: Il lost $500 when
Cleveland was president by his agitatine
the tariff question, and don't propose to
lose any more"
Such action is perfectly natural follow
ing the election OF a president whose party
! in is latest national platform claimed tina;
| there should be no tariff for protection,
no tariff except for revenue. The rising
signs Of depression are the result OF the
general distrust " hich the record OF the
| Democracy excites. Furthermore, since
tie election Henry Wa!!erson, the leaie,