The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-10-15
BRYANISM STOPS THE BOOM
BUSINESS INTERESTS TAKING Alarm
As THEY DID a YEAR AGO.
Serious Reaction In All business Over Fears
OF Henr, Georges success-The Feeling
DisturbInE Our Credit AbrOnd-seth Lows
Ambition n stumbIinE Block TO Prosperity.

IN "h
or Henry Georges success-The Feeling
Disturbing Our Credit Abroad-Seth Lows
Ambition n Stumbling Block TO PROSPERITY.
Every voter in Greater New York who wishes
to exercise his franchise intelligontly at the
impending election cannot do better than do
vote some of his time to informing him
self as to tho effect upon business OF tho
present local political situation. lilo VIII
find, IL he takes pains TO make inquiries
among the tradcspeople with whom he comes
in contact, tho employers OF labor and the
lenders Of money. whether upon n large or
small scale, that the possibility OF the success OF
n socialistic candidate for Mayor. which has
been increased by tho personal ambition Of Mr..
Low, and the other possibility OF the election of
n disguised Bryanite and free silver candi-
date, have caused a serious reaction in business
of every kind.
The victory OF sound money n yenr ago in
spired confidence throughout the country that
gave a tremendous impetus TO every industry.
The prices for commodities Of all kinds add
vanccd because there was a greater demand for
them, and that demand came chiefly from in
creased wages and tho employment OF a larger
number of people than for several years past.
Tho money market. which a year ngo was
stringent to n degree that caused disaster. has
since been easier. and no honest borrower.
Win pIopcI scthIils UT ROOu tItult, III pcth
unable TO secure at moderate rates whatever
accommodation he might desire TO conduct his
business or undertake new enterprises.
The prevailing belief throughout the country
was TINT Organism, Socialism and free silver,
which may properly be grouped under the head
of anarchy. had been cfrectuully scotChcd. The
old issue has unfortunately been revived in the
present municipal campaign, and the answers
that will be received to the inquiries suggested
| ,Ia,,n Inn1l "a p,;a M -, I,atrI Pal I
that 1t is not the spectre OF Socialism that is to
be feared, but its actual presence thinly dis
Guiscd under various local issues.
Not only are the eyes OF the entire country
upon New York, and its present unfortunate
p~rcdicamcnt, but the feeling of distrust and un-
certainty that George and Low and their respcc.
tive followings have created here has extended
to the European money markets. Evidence
upon this point may be found in a cable despatch
printed yesterday afternoon in Mr.. Lows per.
sonal organ.
The fear that the split in the party OF
honest money may enable either the Social
lists under the lead OF George or last years sup
porters of Bryan under the lead OF Van Wyck
to obtain control of the government OF Greater
New York, and, what is moro important, en-
courage those two elements throughout the
country. is constantly reflected In the market
for securities. That investors, both large and
sHudli, II iioIulnb hIpOl from lnaJ mnEkcl Is
shown bv the further decline in the prices OF all
kinds OF securities yesterday.
1t may be argued in some quarters that this
movement is purely speculative. That is not
the case. The great majority of the purchasers
OF stocks upon margin during the recent nd
vance in prices have been wooded out. They
have either lost their money or, saving what
they could, have temporarily. at least, quit
Wall street. Tho best judges Of the market
that thA lg-,,{l,,;-, - H.
accounts has about run its course. At the
same time. the reaction in prices has reached
a point that would ordinarily attract purchases
by substantial interests and by investors out
side of Wall street. Both, however. are OBJ
viously holding aloof from the market. and for
no other reason than that dangerous clements
that were outvotod II year ago have come 10 the
front again. and, under specious prctcxts and
with the stubborn cooperation OF n few intclli.
gent, yet unpatriotiC, citizens. may give BRYAN.
ism. Socialism. and Anarchy n new lease OF life.
As Wall street is tho nerve centre Of tho
financial system of the country. the course OF
its markets in an emergency like the present
should be seriously considered. Those markets
reflect the fears and hopes and the confidence OF
the entire country. Their course in turn affects
business sentiment generally. hence it may he
repeated that whoever will take the trouble
TO inquire will find that the possibilities
~ 49, '" NhS q
ent campaign. which are reflected in tho
market for securities. are having q chilling in.
fiucnce upon every branch OF trade and every
industry. That those markets are in n condition
to respond promptly to any favorable develop.
mcnt in the campaign is shown by the compare.
lively sharp rally in prices yesterday afternoon
on the circulation OF reports that the political
outlook during tho last twenty-four hours had
become moro propitious for the advocates of
sound money.
HARDIIEADED BUSINESS MEN DISTURBED.
From the NeIc York Nous Bureau.
But right here it must DO admitted that the
very hopeful temper which exists in the higher
circles OF finance links with it "A natural sensi-
tiveness to possibilities disturbing to the funda.
mental bases OF values. There certainly is an
important element in Wall street which fears the
result OF the municipal election in Greater New
YORK. The imperial importance of the enlarged
city appeals to the imagination OF even the hard
est-headed capitalists. This class of moneycd
men argues that tho very magnitude OF New
York. both in itself and in it's relations to the
rest of the country, gives significance within its
local sphere which could not DO possessed by n
municipal election In any other city OF the
United States. On this account these capital
lists cannot repress the feeling that material in
terests and the spirit OF confidence, bred
by last autumn's sound money victory,
would be seriously damaged by the
success Of any ticket which was openly advo-
cntory OF Populistic hcrcsies. or which even was
tainted with connection in that direction.
Whether or not the views entertained by the in
terests we refer to commend themselves to all
judgments. they must be reckonod with as a
vital factor by men either specializing for small
profits or who desire to commit themselves to q
permanent trend OF affairs.
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