The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-23
THE OUTLOOK.
Business Must Wait Upon Intelligent
Tariff Reform Despite Encouraging
OutlOok

| inTui Nciorm Despte encouraging
Outlook. s
Colonel David NJ. Thompson, presi-
dent of the Corlisg Steam Engine Com
pany, in the Telegram.
"Ir reply 10 your request for my views
the as to present condition Of business and
the prospects for the future / beg to
say:
"Ibe general business conditions have
greatly improved since the Presidential
election. IL Is manifest In all directions.
The very atmosphere seems n ore invigo-
rating and there appears the promise of
n future which makes life worth living.
Business men are relieved of the oppres-
sion and fear of some terrible calamity
which has for months enveloped their
lives. Confidence is restored and the
large majority OF people of all classes and
conditions of life are cheerful, happy and
profoundly grateful for the magnificent
vim iication of the nations honor and
integrity.
SIT is yet too early 10 forecast the Inn
mediate results OF business, either in
volume or value, OF the product OF labor.
We may. however, safely count upon sus-
tanning the recently increased activities
and We have also a reasonable hope. of a
moderate extension of trade to meet the
absolute requirements Of repairs and re-
newals for the next few months. Orders
are being placed more freely. but 1t will
be a considerable time before prices can
be adjusted upon profita BILE basis.
Nearly all departments Of trade and com
merce, so far as / can learn, have felt the
impetus of the forward movement. IL
the business depression during the past
four years was due-as some believe--to y
al sarranged financial condition, and the
threatened free coinage OF silver, then
should feel confident that we are no upon
the threshold OF immediate prosperity,
but such, however, IL not the fact. Tns
country has been prostratsd by a change
In its tariff laws which has destroyed con-
tdence, rem dered the en- mployment OF Ia bor
I'm many important industries sbso-
lutsly impossible except at a serious loss
to capital or q sweeping reduction in the
wages OF operatives and all American
labor.
"The policies Of political parties are
questions which demand the first con-
sideration of every American citizen. l
make no charge as to the integrity of
party organization, which has wrought
ruin and financial disaster wherever it
has been given the power, Dut challenge
Its principles and the wisdom OF it's
policy - modern political econ omists
tn hn potxr n afox, Afs,av
"Science IL founded upon reason, the
deductions OF practical experiences; theor-
les can be esta blished and demonstrated
only through agencies which recognize the
presence and relative value of all the of
elements contained In the material orsub-
iect submitted for analysis.
1.-The country has recently and for the
fourth time in its brief history been sue
jected to a policy which proves the fall
lacy of free trade and low tariff. II has
just barely escaped a disaster, which is
the Legitimate offspring of misfortune,
misery and discontent among the people,
extending over q period OF nearly four
years, involving conditions of mental
and physical suffering, which beggar all
attempts at description. This experiences
has involved price which the people
can i'll afford. There have been losses,
which can never be recouped. The only
com pensation is in the education OF the
people and their recognition of the prin-
ciple OF protection for their own labor
and captsl-a factor in American poll
tics, which is fundament tel and akin to
patriotism.
ELECTION ENSURES SAFETY.
"The election of the Repu blican cam
didstes insures safety and constitutes the
sole anchor Of our hope for the future.
Much, however, remains to be accom-
plished, Recovery is slow. Reorganiza-
tion and rebuilding requires time. No
effective work can be done for several
months, except in well organized preps-
ration for the important legislation OF
the tfty-fifth Congress.
"It Is futils TO expect the enactment
of any tariff measure during the present
bri session. The Dingley bill for pur-
poses of revenue and it's limited relief of
industry, was fitted for the time OF It's pre-
sentation; 1t Is inadequate under the
Drebeut ClrCumbbdUCeS. oIeht respODklDl-
lities will confront the Incoming admin
'istration upon the 4th of March. 1t is
hoped that the first official act of Presi.
dent Mckinley will be a call for the new
congress to convene In special session to
consider and determine upon suitable
messu res OF relief. A neutral or negative
policy in the matter of tariff Will prove
public calsmity. The business interest
OF the country and the welfare OF all lite
people demand q revision OF the present
unfortunate tariff law, at the earliest
possible date. not reinactment Of the
Mckinley bill, out such legislation as the
past and our present experience viii
readily indicate as just and fair to all
American interests.
"The vast aggregate iD the Deficiencies
OF revenue to meet the current expenses
OF tho government during this long |
refiod Of depression undera Democratic |