The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-11-10
THE REVIVAL OF BUSINESS CON-
FIDENCE.


The telegraph wires which told the
story OF the magnificent triumph Of Nc
Kinley and sound money, also flashed
the good news Of the revival Of business
confidence. The telegraph keys that
ticked off the majorities that have been
registered for the defense Of the ma
tional credit also carried the message
Of reawakened commercial and indus
trial activity.
The time for campaign promises has
passed. Ante-election representations
have been wiped OFF the bulletin boards
to give place to market quotations. The
people have declared emphatieally
against dangerous experimentations
with the currency question. They have
repudia:ed the repudiaticnists. They
have signally rebuked the false econ
oElists who clamored for the debase-
ment of our measure OF values. Now
for business.
When 1t is remembered to what ex-
tent the business of the country de-
pends upon the confidence that exists
faith Of the people in the financial sta
bility Of the government, it will be
seen that the belief in an immediate
revival of business is based on natural
conditions and on rational conclusions.
The menace TO capital involved in a
threat TO change the standard of value
and the financial disturbance caused by
the free silver controversy could have
no other result upon business than a
general destruction Of public confidence,
] followed by diminished sales and pur-
chases in all lines Of mercantile activ-
ity and decreased production in all
manufacturing enterprises. Thousands
of merchants refused to give orders for
goods until the financial question was
definitely settled, while thousands gave
orders conditioned only upon McKin-
Iey's election.
The extent to which money has been
boarded, pending the final arbitrament
Of the currency question, would be a
startling revelation to the people If ex-
act conditions could be accurately tab
ulated for their information. The cleo
ton Of Mckinley will attract this mon
~ from its hiding places It will flow
into channels Of activity because Of the
fact that business men now have
solid basis upon which to plan the in
vestments that have been waiting. The
currncy and tariff policy Of the govern
ment is practically settled for the next
four years Merchants can buy with a
feeling Of certainty that existing values
will not be disturbed. Manufacturers
can invest in raw material with the as
surance that there is to be no upheaval
in the markets.
President Cleveland will protect the
gold reserve until Major Mckinley is
inaugurated four months hence, and If
necessary to take immdiate measures
to replenish the exchequer after his in
auguration President Mckinley will
call congress in special session to frame
a tariff law that will at once yield ade-
quate revenues to run the government. |
Millions Of dollars have been waiting
for Mckinley. The people have declar-
ed for him by overwhelming majorities. |
The restoration Of public confidence is |
complete. The business revival will not |
be spasmodic; it will be gradual, steady |
and permanent until the second or third
year Of McKinley's administration will |
find US once more at the high-water
mark Of national prosperity.