The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1897-09-11
THE POPULAR CONCLUSION.
Better Times Resulting from Wise
Republican Policy.


Republican Policy.
Events could hardly have suited re-
publican interests more perfectly than
they have during the last four years.
1t is only n month since the new repub-
iican tariff was passed and signed by
the president. All free traders will of
course assert that the rapid change In
the condition of business has had moth
Ing 10 do with the tariff. So they like
wise assert that the beginning of COM
mercial disaster within two weeks after
the election i'm 1892 was in no way caused
or FASTENED by the result of the election.
The world does not readily ascribe
several snch coincidents TO accident.
The plain people note the beginning of
bad times in November, 1892, within
fortnight of Mr.. Cleyeland's election,
and the era of good times in August,
1897, within fortnight after the en-
actment OF a republican tariff, and 40
years OF agonized special pleading wiz
not alter the conclusion which most
men form.
II is obvious that the partial failure
of European crops has much TO do with
American industrial prosperity. So
the banking panic in Europe late in 1890
was not result OF democratic votes.
How serious the influence of foreign
disasters would have been in this coun-
try had no revolution in national poll
tics been foreshadowed may not be
definitely stated. But everybody can
understand that the effects in this coun-
try would have been much less serious
IL there had not been such n state of
things produced here in 1S02-'93 as 70
promote heavy sales of American Sc
curities on foreign account and large
exports OF gold from this country. No
doubt the large crops and the foreign
demand have helped the country this
year and will yet help II, but no such
effects as are now seen could have been
produced il there had not been steady
preparation for months in every branch
OF industry for the revival expected
after the enactment of n new tariff.
Without ignoring the contributing i'm
fluence of foreign disasters in 1892 or
OF foreign demand in 1897, IL may be
claimed with reason that the rough pub
lie judgment is not in error. Great dis
asters came In 1s02'03, and IL is not
probable that such disasters would have
appeared had not n revolution in the
policy OF the government been threat
ened. Great improvement comes in
1897, but such improvement, publicly.
would not have come If a return TO the
wise republican policy had not favored
il TO the utmost.
IL is the habit OF political opponents
Il. a tut,
The tariff enacted in July they say,
could not have caused the large crops
in this country or the short crops
abroad. But the suggestion Is essential
ly deceptive. If government reports
are of any value, we had larger crop
of wheat in 1892 than may be expected
this year. 1t Is not at all certain as yet
that the country viii have larger for
eign demand for wheat than IL had FIVE
years ago, when exports were not far
from 200,OO0,00O bushels. The course OF
the stock market must not be over
looked. Europe has been trying TO
cover it's grain requirements by selling
securities for some weeks past, but
American confidence in the future has
been so strong that prices have steadily
advanced in spite OF European selling,
and the net result has been large buy
ing by new investors In England and
Germany. The situation was quite diff
ferent five years ago. The selling then
met no defeating confidence in the fu-
ture OF American stocks
The key Of the whole business is the
strong and prevailing faith Of foreign
ers in the recuperation OF this country.
We know they are right now, az we
knew they were right when they looked
for bad setback five years ago. twas
not dream or n guess at that time, and
to-day the country is rapidly rising 10
the level OF business done in 1902, after
tagging for five years from 20 TO 40 per
cent. behind the level. II every voter
in the country draws from such facts
the conclusion that the republican
policy means national prosperity he
will not be seriously In error.-N. Y.
Tribune.