Omaha daily bee., 1898-11-16
BUSINESS BASIS MORE SOUND.
Financial stability Decrecd by the
voters of the Country.

Philadelphia Times Cnd. dem.)
The election OF Mckinley ana the over.
whelming defeat OF Bryan and free coinage
in 1896 halted all tendency to a business
panic, as IL was clear that during the four
years OF McKinley's term as president there
could be no free coinage legislation. The
election of 1896. however, left all positive
coinage and currency legislation in the
position Of Mahomets coffin. The senate
was still a free coinage body. and the house.
though strongly republican, could not pass
sound coinage or currency measure OF 1t
self. The concurrence OF the senate could
not be obtained, and In consequence nothing
In the way Of financial legislation was at
tempted by the house.
The election OF 1898 has completed the
political revolution begun by the election OF
Mckinley two years ago by making both
senate and house republican. 1t Is now
within the power Of the republicans to
enact into law any sound money legislation
that may be necessary TO restore compl, to
business confidence. and even II they shall
fail to do this the senate is republican in
any contingency for eight years to come.
thus rendering any free coinage legislation
impossible during that period, for 1t is not
conceivable that senator's elected squarely
on the issue Of maintaining the gold
| standard will, under the influence OF any
popular craze. vote for free coinage during
the term for which they have been elected.
The transfer OF the control Ct all branches
OF the government to the republican party
on the sound money issue has clothed the
next congress with the direct responsibility
Of placing our coinage and currency
system upon a basis so sound that it cannot
be disturbed for a generation TO come.
That this responsibility will be accepted can
scarcely be doubted. The existing congress
Is not likely to pass any financial legislation
during its closing session, which will begin
| next month and end March 4, as Its entire
time Is likely to be consumed In the pas
sage Of the necessary appropriation bills and
legislation growing out Of the recent war
with Spain. But with certainty that no
bad financial legislation can be passed the
| country can wait a year in the confidence
that the new congress will have both the
power and the disposition to pass a sound
| financial measure.
This promising condition should resolve
the last doubt in the minds Of those who
lead the business interests Of the country In
favor OF we'll planned. aggressive forward
movement for the expansion Of our trade,
both at home and abroad. The last reason
| for pursuing a hesitating hand to- mouth
business policy vanished with the counting
of the ballots on last Tuesday evening.
Merchants and manufacturers alike have an
open field before them In which to plan and
execute for years to come, with the full as
| surance th.t II they can make more goods
and sell them to more customers they will
find profit in so doing, and that they need
fear no business panic or cessation Of busi>
ness activity from any danger to the exist
ing standard of values. This is good time
| to plan for revival Of business that will
reach every business avenue with the conf
| dent assurance that all the necessary ccnSi-
tions exist to make the revival q permanent
one