The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-12

result of the elections. The first effect
was a sharp squirt of activity and an ad-
vance OF about one point in prices Whicn,
however, was followed by a reaction TO
about the closing prices Of Monday. owing
TO realizings BY a class OF wearied holders
who have been waiting for an opportunity
TO get out. This. however. is not to be
regarded as expressing the real and Ill
innate result of the surprising change in
political sentiment. The party revolution
so far exceeded anything that had been
expected that everybody was taken by sur
on the instant, the great practical impor-
lance of the change To give effect to an
event of such magnitude some organiza-
ton and cooperation is needed, and the
more influential operators nave heretofore
deferred action until combination can be
organized.
set of conditions calculated TO clarity the
political situation and TO bespeak public
confidence. l. In the first place 1t affords
ent element in politics.; which Implies that
the more intelligent and conservative
eminent and are resolved to have political
questions treated more on their merits and
less from a partisan standpoint. .. The
of such corrupt double-dealing as 1.sgraced
the Senate in the late settlement Of the tar
IN question; and 1t similarly shows the In
dlgnation in the Nation at large at the
revelations OF unparalleled fraud In the pub
nc departments of this city. brought out by
wholesome resolution among the people at
large that politics shall be purged of the
now prevailing corruption-a symptom
which is UNNECESSARILY valuable as convey
ing an assurance of a higher standard of
morality in our future political administra-
ming OF a decline in popular sympathy with
the vagaries and unsettling projects or
an important class of Investments and be-
speaks a sounder basis of financial honor
in sections which have been exposed to seri-
Gus distrust. To the same extent, ii sug-
gests a hope OF the early elimination of this
perverting and corrupting element from
congressional legislation. 4. The result also
simplifes the future OF legislation. In place
OF utter uncertainty as to the disposition OF
Congress on certain Fundamental matters OF
the control of a party whose general policy
has been indicated by a long tenure OF
ferences of opinion on parts of that policy,
the whitening influence of uncertainty as to
the future of certain vital working arrange
large contribution toward the remedy Of the
now widely unsettled state of confidence.
the tariff question beyond the reach of
further agltation; for while it may be taken
for granted that Congress can do nothing
certain raw materials, il seems equally Ger
tam that the party returning to pow
to remain undisturbed until at least IT
has had a sufficient trial OF experience.
g. We take 1t also. that the change of gov
eminent means a serious effort to reform
our currency system. The overwhelming
majority will make the next Congress and
administration less independent upon con-
Chatting the clamor for free coinage of
silver and for fiat money; and as Republic
an ~leanings toward these heresies have
doubtless been due much more to motives
or factional accommodation than TO any
real disregard for sound money, the hope
for conservative legislation on the currency
question rs thus very greatly strengthened.
abroad, with the result of a material
STRENGTHENING OF the foreign confidence in
our Investments which has been so rudely
shaken by the aacertain attitude of Con-
gress upon mis- urgent issue. Z. In a word,
the chief gmilcanc of the political revo.
the Demo cracy to power suggested a long
secries of radical changes in matters affect
lation OF our trade and finances, yet the
urged in favor Of such a policy, the people
DO D. not take kindly to the prospect of q
this reforming involves: they are
more concerned with the present
than the future; they want the shortest
cut to a renewal of prosperity; they prefer
putting up with some things of which they
may not theoretically approve TO so much
proposes: and they therefore say to the late
discarded party: Take the reins again; we
have given you a few lessons, and If you
will take them to heart We are prepared To
trust to your future control rather than
throw everything into confusion by too much
experimenting" This, we take 1t, is about
The motive will commend itself to the sound
common sense of the country; and, when
supported by such an immense majority
of the people it becomes a very powerful
contribution TO future stability and conf
dence.
LAS we read current sentiment. this is
about the Interpretation Wall street puts
upon the great event of Tuesday. The eff
fects, from this time forward, on invest.
ments and on general confidence can hard
ly fail to be very Important; and We look
for a strengthening of values that will later
develop into a more active and rising mar
ket for stocks"