New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-26
THE THING TO BE DONE.

THE TING TO BE DONE.
II SURPRISES some thai The growing confidence
that Governor Mckinley will be- elected. WHICH
50 nearly approaches feeling of certainty 'la'
some per>ohs are seeking in vain WAgcrs al al
most unprcccdontcd odds. does not yet produce
q general revival of business. But the real
cai,yc of the trouble * not the fear OF some
Thing. is il plcasc~ some Democratic frIendS
TO say. There has been no ground FOR Tear
that such Il Democrat rs Bryan, on Such "
PLATFORM could overcome tremendous kop""
lcan maiofiticS last year. But the cause Is Inc
actual existence al conditions Wnich 'dIl'l"'
b, removed 10y the mere election or nhaugui"
ton o. Il President hut only by til" rGh' eN'i-
Else OF the power which. il is TO be hoped the
ucoplc viii imirust to II Republican PRESIDENT
and Congress. business men may indeed De-
yin 10 discount fhc future rs soon as the elec-
ton has 80 resulted. exactly as they began l"
cui down operations. shut down works az"
Withdraw from risks as far as possible after
tl,o clortiou of a Democratic President ana 'Oh-
cross fcur years ago. But as many acted then
because they had reason TO believe change
would come. So they would act now III tue
hope of "A future change in administration ana
LEGISLATION. The source OF trouble remains
until the Government has been provided III
adequate revenue. and the Industries OF the
country have been provided adequate defence
There are many who say that business could
revive and flourish even now, with laws JUST
as they are. if only confidence were restored
Bnt they take il for granted that confidence
can be fully restored with the laws stlll Ill
force which have impaired ii. AT present OUT
going farm products create a balance in favor
of The country. and gold comes nither But
season will come when exports Will be NATURAL!
reduced and if imports then rise again as hlgh
as i'm the fiscal year 1890, the adverse balance
will again take gold out Of the country, de-
nloto tho Treasury reserve and cause new APP
prchcnsion Something must be done to insure
the Government an adequate revenue. ana
something 10 restrict the excess of imports at
n time when more active business invites them.
before any recovery Of confidence can he last
ing or complete
1t is frequently said that the great industries
are even now able TO export iron ana other
products and therefore stand in no need OF
duties higher than those in force. Men In
nractical business know better. They are per-
fectlv aware that the products they now export
because business here Is Stagnant do not rep
resent profits, nor healthy condition OF in
dustrv Before business can revive in any
satisfactory way. there must be better profits
for manufacturers and better wages for work
crs than are now possible This Is of neces-
sity true. because in a time Of serious depres-
sion such as this it is only the concerns most
favored by location. control Of materials or
of markets. exceptional skill or circumstances
which can keep in operation, and general pros
pcrity is not possible while only the exception
ally fortunate concerns can work. Continued
production is possible now for many con-
Germs only because wages are much reduced,
but with reduced wages the millions cannot
buy freely. and general prosperity cannot come
10 stay until better wages can be paid. With
better wages and better profits. however,
prices must advance so far that the force of for
eign competition under present laws will again
be felt as severely as ever, and then each in
dustry will have to fight for existence again,
between Wagc-carncrS who want better wages
and foreign competitors who are enabled TO
undcrsell it.
What the people want is not another false
start TO be followed by another reaction. The
loss incurred 10y the temporary but haf-unrcal
revival of last year has not yet been calculated
\ heavier aggregate Of failures than had APP
pcarcd since the worst months of 1893 bears
witness that those losses were large What
business men want. what manufacturers want,
what wage-earners above all require, IS a sure
and lasting recovery, not again arrested within
a month or two by overpowerlng foreign COM
petition. or by drain Of gold from the coun-
try TO pay for imports or by exhaustion Of
Treasury reserves and alarm about the cur
rcncy. That revival for which the whole Ma
ton longs cannot be expected until II Is at
least certain that full power has been intrustcd
10 President and Congress who will not de-
lay or hesitate IN applying Republican princ-
pies for the relief Of the country.