The times. [volume] (Richmond, Va.) 1890-1903, 1900-11-20
Ma I ION S TRIAL
HER Y'llN,DIC.A ton
Financial Question in the United.
States Settled.
THEORY VERSUS PRACTICE.
Bank President Tilf'rd Declares That
McIlinIcy's He-elcction Was
!, Great Event in
History.
THEORY VERSUS PRACTICE
lSnecial to The Tins

NEW YORK, Nov. 19.-President Nc
Kirley's reelection is one Of the great
events of American history. 1t makes
an epoch in our national life, as the
triumphant close Of the war for the
Union marked another one five and
thirty years ago. AT the first blush this
assertion may seem extravaganza; but to
any man Of ordinary common sense. who
co!dIy and dispassionatciy considers the
oriuSiples aEi! policies that were involved
II TIL. { cnlest. il cannot fail 10 ap;1ear as
far within the line OF simple statement
of q stupendous fact. AS yet we are too
close to this monentous achievement to
see it in all its magnificent proportions.
Time is required to furnish the right per-
spective; and not only time, but the mar
velous industrial and financial progress
that, confidently predict, the near future
and the years stretching far into the new
century are certain to produce
TO look at the splsndid results from the
financial point Of view alone, what is
the situation, present and prospective?
First of all, it has become an axiom that
the best money attainabls is absolutely
essential to the highest material progress
and development Of a great agricultural,
commercial and manufacturing nation.
Theorists there are that dispute the sound
ness of this fundamental proposition, but
the experience of the practical men of
affairs who originate or iInpel the vast
industrial enterprises of the world is all
against these speculative closet fnanciers.
During the last quarter Of a century this
question has been in irritating debate
among US. Political parties have again
and again lodged, straddled and fooled
with it. Eminent public men, recognized
leaders OH ore side or the other, have
wohbled and shifted ground with respect
n il 4 aSt ic
confer came on November 9Th. Then the
Overwhelming judgment of saventy-six
millions; of people decided that there shall
be one and only one standard of values in
this country, and the whole disturbing and
pestlferous controversy was laid away
for all time in the political garnet of eX-
rloded, repudiated, spent an5ig worn cut
issues It is as dead as the Alien and
Sedition laws agitation during the Presi-
Cency Of the elder Adams
THE NATIONS TRIAL.
AS a nation on this issue we were on
trial before all the world. Republican
government was on trial, or to put it in
another way, the capability Of man for
honest. wise self-governn2ent was to be
passed upon by the peope themselves.
And nobly has that capabilty been vim
dicated in the most transcendent electoral
contest the world has ever baheld. Thus
lar institutions stand forth Refrigerated,
panoDlicd in new and impenetrable armor-
the magnificent declaration through ths
ballot box that Republicans and Demo-
Gratis alike have the wisdom to safeguard
their governmental structi:-e, preserve its
financial honor and advance it to the loft
lest position ever held by a people.
It is true that we have been doing bust
ness on q gold basis, that commercial con-
tr.o+ Of aJ-c ~ .;,,tf
gold stipulation respecting principle and
interest. but until the people spoke in the
campaign just closed and made their Will
definitely known on the subject. an ele-
ment of uncertainty pervaded the tinan-
cjal and industrial world that had g, most
pernic;ous influence. It alarmed the
timd II made the prudent infinitely more
cautious, so that the soundest and safest
investments were regarded with more or
less disrustThe effect of all this was to
restrict and tranlinel enterprise. to lock
up vast boards OF capital. and consee-
quenty, to prevent the natural increase
that flows from its active employment il
the channels Of trade. The settlement Of
the question cannot. therefore, fail TO
make money mora abundant and to in
spire a confidence such as we have not
known during a period of far more than
a generation. Not to ourselves alone VIII
ttle confidence be limited. It is world
wide in its scope, so that foreign as well
as domestic capital will be eager 10 seek
investment in our securities and, thereby,
share in the prosperous conditions that are
assuredly before the country with It's al
most Iimitlessa resources and opportunities
for development.
THE CCJNTRY'S DANGER
If the decision at the polls this month
had gone against the sound money forces
tho effect beyOrd :l1 oIlpsfi0n would