The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1894-11-12
Henry clows's Weekly Letter on
the Business Outlook
TIE RESULTS OF THE ELECTIONS.
Uncertainty Removed From the Bust
ness World. Because the People
Know That Legislation is In tho
Hands OF n Party in Whose General
Policy They Bavo Confidence.
Seeial Correspondence ofMs Ea.1IG9aer.

| past week, has been tho result Oh tue
elections. The frat effect was sharp
squirt Of activity and an advance Of
about one point in prices. which, how
ever, was followed by reaction to
about the closing prices Of Monday.
owing to realizings by class Of wearied
holdera who have been waiting for an
opportunity to get out This, however,
is not to be regarded as expressing the
real aud ultimate result Of the surpfls-
ing change in political sentiments. The
party revolt ton so iarexceeded anything
that had been expected that everybody
was taken by surprise and none were
prepared TO discount, on the instant,
the great practical Importance OF the
change. 10 give effect to an event OF
such magnitude some organization and
cooperation is needed, and the moro
influential operators have therefore de-
ferred action until combination can be
organized.
The election prepares the way for
new set OF conditions calculated to clar-
ify the political situation aud 10 bespeak
public confidence.
~ In the first place it affords evil
dence OF the vast increase Of the indie
pendent element in politics; which i'm
plies that the moro Intelligent and con-
sentative classes are taking deeper In
terest in government and are resolved
TO have political questions treated more
on their merits and less from partisan
standpoint.
(2) The verdict equally expresses
public intolerance OF such corrupt
double-dealing as disgraced the senate
| in tho late settlement Of tho-tarif Ques-
ton; and it similarly shows the indiG-
| nation in the nation at large at the rev.
citations OF unparalleled fraud in tho
public departments OF this city, brought
out by the Lexow committee. Those
arc signs OF a whol esome resolution
among the people at large that politics
shall be purged OF the now prevailing
cotrupti0n-a symptom which is i'm
measurably valuable as conveying an
assurance OF higher standard OF NOR
atty in our future political administra'
ton.
~ The vote also expresses the be.
ginning OF a decline in popular sym
patty with the vagaries and unsettling
projects OF populism; which has di.
rect bearing upon m important class OF
| Investments and bespeaks sounder
basis Of financial honor in sections
which have been exposed to serious dis
trust. To the same extent, 1t suggests
a hone OF the early elimination of this
pervorting and corrupting element from
congressional legislation.
t4) The result also BimpliGes the fu-
ture OF legislation. In place OF utter
uncertainty as to the disposition OF
Congrcss on fundamental matters OF
legislation, It brings the country back
to the control OF q party whose general
policy has been indicated by long
tenure OF power; and though there may
be differences OF opinion on parts OF
that policy, the whitening influence OF
uncertainty as to the future OF certain
vital working arrangements IS very
largely removed. This is large contri-
button towards the remedy OF the now
widely unsettled state OF confidence.
(5) The election also rueans the re-
moyal OF tho tariff question beyond the
roach of further agitation; for while it
may be taken for granted that Congress
can do nothing more in respect to the
sugar duties and to certain raw materi-
ais, it seems equally certain that the
party returning to power will allow the
now tariff to remain undisturbed until
Mt least it has had sufficient trial OF
experience.
10y We take 1t also, that the change
OF government means serious effort to
reform our currency system. The over
whelmiag majority will make the next
Congress and administration less de
pendent upon concliating the clamor
! for Tree coinage OF silver and for fiat
money; and as Republican leanings
towards those hereaies have doubtless
| been due much more to motives OF fnc-
| tionnl accommodation than to any real
disregard for sound money, the hope
for conservative legislation on the cur
rency question is thus very greatly
strengthened. 1t Is probable that this
view will be taken abroad, with the
result Of a material strengthening OF
tho foreign confidence in our invest
ments which has been so rudely shaken
by the uncertain attitude OF Congress
upon this urgent issue.
"a In q word, the chief significance
Of the political revolution lies here:-
that, while the advent OF Democracy to
power suggested long series OF radical
changes in matters affecting the nature
Of tho laws and tho regulation OF
our trade finances, yet the truth is that,
whatever may have boon urged in favor
Of such policy, the people do not take
kindly 10 tho prospect OF so much
change and uncertainty as all the RE-
forming" involves; they arc moro con-
cerncd with tho present than tho fu-
ture; they want the shortest cut TO q
renewal OF prosperity; they prefer put
ting IN with some things OF which
.lley may not theoretically approve to
20 much rcconalructiug Us the party
now in power propososi and they,
therefore, say TO tho late discarded par
ty; "Take tho roins again; VIC have
given you o few lessons: II you will
| take them to heart, wo are prepared to
trust to your future control rather
than throw everything into confusion
by too much experimenting" This, we
take II. ia about the meaning OF the
business mans vote. The motive will
commend itself to tho sound common
sense OF tho country; and. when sup
ported by such an immense majority Of
tho people, it becomes very powerful
contribution to future stability and
confidence.
As wo road current sentiment this is
about the Interpretation Wall street
puts upon tho great oVont OF Tuesday.
Tho effects, from this time forward, on
Investments and on general confidence
can hardly fail to DO very important;