New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-23
rIEuENTS OF CONFIDENCE.

Fxnerience during the last few days has
aelped 10 enlighten some spectators in regard
TO the stability Of American finances. Having
been educated by four Democratic years 10 the
idea that this country must run TO the arms OF
Mother England at every sign of financial
trouble in the world, and depend entirely upon
her ability TO defend and upft and soothe. they
are somewhat surprised TO find their own wild
alarms about European affairs bluntly rebuked
by the steadness of London markets and the
buying of stocks by London spectators. After
time il may dawn upon them that. since the
election put an end 10 Democratic National
policy this country has not been shipping gOld
by the cargo to pay debts. nor borrowing money
by the hundred millions for Government eX-
penses and that all Europe is aware OF the aDil-
fly of This Nation TO take care of itself under
Republican government
There was offered in Wall Street one eXplana-
ton of this absence Of scare al London, that the
great Powers privately knew just how far they
would let Greece and Turkey so in their fight
Ing and when they would interfere and that
foreign fnanciers of course, held the secret
The suggestion is of the class properly called
.lmportant. If true" Since everything tends 10
prove that the great Powers would very much
Ike 10 know at this moment what they can do
unitedly. if anything, and how far either OF
them will support any other, the story may be
reckOned rather apocryphal The obvious truth
is that Great Britain herself does not know how
far Great Britain will let the war go on without
Interfering and presumably France does not
know any better what France will do, nor can
Italy predict her own future action. The money
markets are governed by keen sense Of the
fact that European concert how depends upon
yublic opinion, and not upon the will of sundry
despots
At the bottom of the financial problem is the
fact that uncertainty abroad means a greater
demand for American wheat and corn, meats,
oil and materials Of war. and at the same time
a stronger investment demand for American
bonds and securities and for paying property
here. This country is out Of the mGss. and suffi-
GENTLY powerful with respect to interests deemed
vital by European nations to feel reasonably
confident that her rights and interests will in
any event be so far respected by cOmbatants
that we shall not be drawn into any trouble.
Indeed. the fact that Europe is dreaming Of
great war every night places this Nation in
stronger position than it would hold If peace
abroad We're assured Capital runs from all
parts Of The world 10 seek safety with profit.
This country will reap the harvest no matter
whether Crescent or Cross obtains the support
OF Christian Powers. Ii is part Of their penalty
for toeratng the Crescent in Europe that the
rich regions about the Black Sea do not make
the Christian nations Independent; as to food.
The progress toward a new tariff has ts in
fuence also Practical men in Europe and in
this country are perfectly aware that strong
Republican tariff will now place this country in
q position Of greater industrial independence
than II has ever enjoyed before. The great de
velopment Of industry prior to and In some
branches even since the adoption Of the Demo
cratic tariff Of denominations" the growth Of
Nation which not even four Democratic years
.aD stop advancing. have prepared intelligent
business men everywhere to expect this country
20 exercise in the markets and the finances Of
the world far greater influence under wise
Republican policy than IT has ever yet pos
'essed. The practical men. who do not shut
their eyes 10 fact because 1t fails TO fit Free
Trade theories, are watching the steady progress
OF work al Washington with deeper interest than
~t any former time, and with a conviction that