The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-08
BUSINESS AFFAIRS.
Henry clews on New York and
Other Election Results.
MIGHT HAVE JARED WORSE.
The Mayor Of the Greatest American city
Pretty well Hsmmsd la by the Charter
ProvlsionE-NvhAt the People Want
Now ia SAFE and Conservative LsRlSla-
ton by Congress on Monetary Matters.
More Life IN the Wool Market


| NEW 1OhhI Nof' AHiS "SNN
Wall street has been occupied mainly
with the results Of elections. So far as
respects the local election, the outcome
as TO choice of candidates has been in
the preponderatlng opinion of the imam
claI world, not the best that could have
been desired. 1t AFFORDS the minimum
of guarantee as to an economical man
agement Of the large interests of the
new metropolis; and that ID OF course a
misfortune, as much for what II indi-
rectly implies as for what 1t directly IN
wolves 1t 10 not to be forgotten that
The charter of the Greater City was
framed by commission composed OF
Gen. Tracy, Seth Low and Others, ana
that by It the mayor Is pretty thorough
ly hemmed In. He cannot, under the
circumstances, do much harm, even II
he desired to do so, know the mayor
elect and have good opinion of him
personally. He certainly Is good
faced man and that Is an important In
dex to his character For one, there
fore l am willing to believe that Van
| Wyck will turn out pretty we'll as mayor
of New York. The city might easily
have had as It's chief worse man. And
| as much may be hoped for from the
comptroller-elec The vote can hardly
be regarded as disappointment, for
the betting barometer had, in anticipa-
| ton Of the poll, plainly eyinced that, In
| Wall street at least, this outcome had
been expected. And having been eX-
pected, the effect was discounted In
part In advance, and was expressed In
the declines of last week. There was,
however, a considerable minority who
had hoped that the control of the city
would fall into other hands, and to
| those the result has been an unmitiga-
ted disappointment, which has found
expression in speculative realizings and
| u further fall in prices.
The results of the elections In other
states are so varied and have been so
much influenced by purely local Issues
| that they can hardly be regarded as
warrantlng any general conclusions as
| to their national significance. In one
| aspect, however, they are distinctly as
surfing. They afford plain evidence OF
| the decline Of popular interest In the sil-
| yer question and distinctly reveal the
beginning of Its decadence as a leading
| issue In federal politics-a fact which is
of inestimable value for the hope 1t sug-
gests as to the prospects of the sound
| money policy.
Taking as a whole the symptoms
brought out by the elections, they indi-
cate considerable ferment in public
opinion and disposition to forsake old
ideals; and 1t may be hoped that these
tendencies will hereafter develop into
better methods OF government and into
politics more in harmony with an or
Derby public sentiment; but, in any case,
1t can be said that the drifts of opinion
thus exhibited afford no symptoms OF
dangerous tendencies and no new vital
lty in the wild policies advocated In the
passionate party platforms OF 1896. On
the contrary, a disposition to abandon
Impossible policies seems to be coming
over the country, and traces are mani
fest of n public advance toward meas
ures that will more completely harmon
lie sectional differences. Setting aside
all party prejudices on one side or the
other, the elections must be construed as
Indicating the ascendency OF more
moderate and reasonable spirit In ma
tfonai politics. This election IL the FIRST
since our escape from the sufferlngs OF
four years depression created by the
silver and lingo crazes, and 1t Is there
fore natural that 1t should show this
welcome exemption frcm the spirit oil
political pesslmlsm. Viewed dispas-
sionately | am unable 10 see anything
in the state elections that can be re-
parded as casting any doubt upon the
continuance Of the public prosperity
that has returned and developed to such
n. remarkable extent within the last few
months Now that business has uni
yersally revived, the people at large
value the boom too highly to sacrifice
IL by rash policies or needless sectional
Disbursements. What they want is safe
and conservative business legislation,
and foreign policy that IL pacific rath-
or than belllgerent They want sound
but not needlessly revolutionary re-
vision of our monetary system, such as
will save us from the possible recur-
renco of evils like those that have I'm
perIlled the gold basis within the last
four years. In 1879. It was the resump-
ton OF epecle payments that produced
the remarkably exhilaratinR effects
upon the business situation then expert
enccd. Now. eighteen years later, we
are witnessing n great commercial re-
ylVal, stimulated by the hope that meas
ures will be enacted for making the
maintenance Of making gold payments
secure and lasting Efforts have been
made to produce the impression that the
President and Congress have become in
different about currency legislation; but
these representations may be safely re-
gnrdcd ms mere party inventions.
venture, not without knowledge. to af-
firm that both tho Presidents message
and the report OF the secretary OF tho
treasury will make strong and unmis-
taxable representations 20 Congress In
behalf Of measures for effectlng this re-
form upon n broad and practicable bus
incss-llke basis. have also reason TO
believe that Speaker Reed, instead OF
proving lukewarm on this question as
has been predicted of him, will DO found
earnestly committed to making this the
leading issue OF the session.
Thus, whatever Congress may or may
or may not do wo may safely look for
wnrd to its devotlnE earnest attention
TO the question upon which business
opinion has fixed ita hope M afrordlng
moro thorough and lasting relief to the
credit OF the government and the trade
OF tho nation than any other that could
come under its consideration. Instead
of,--ns has too often been the caRc,--
having to anticipate the opening Of
Congress with the prospect Of disturb
ing legislation we may look forward to
II with hopes for n great measure Of
public relief In Wow Of these fRclp Il
IN reasonable TO expect that the present
grouly temper Of the market has about
reached lts limit and that instead OF
dcfcrflng operations until December m
anmn nnnm llannnnh. Ihorn viii hn fnlinh