New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-08
FAITH IN THE PEOPLE.

The approach OF PRESIDENTIAL conventions pre-
pares people in the speculative markets for
all sorts of novelties. Even of the innocents a
large proportion has caught the idea already
that there may be more rapids and shoals and
perils in a Presidential year than in any other.
Men of large political experience likely to go
into the campaign this year with entire conf
dence as to the result and never to have that
confidence shaken TO the end. But the
current prices In speculative markets not
generally made by the activity Of the few expe-
rienced and competent political judges. On the
contrary, as Is we'll known, their activity is
trOlled great part of the time by the dOings of
small dealers, room traders, clerks and meSsen-
gers, who get into market but also get out of
it on the smallest provocatiOn, and not always
acting either way with much sound reason.
This year there are reasons for more attention
than usual TO this state of things by the solid
business men who take longer views. whose
operations when they do anything hardly admit
OF jumping in and out in day. and whose
plans generally connected with permanent
interests in great enterprises.
The cheap floaters of a speculative market
usually influenced by every change of rumor
or popular temper All remember how impor-
tant were such changes in current opinion four
years ago, and how light wasted betting varied
from strong confidence one day to grave appre-
henslon the next 1t was line opportunity for
men to realize handsome profits who were rea-
sonably able to the end from the beginning.
This year there will exist the same motive for
giving attention to the business and another of
higher grade. 1t will help all the industries
and trade of the country II the solid men of
finance during the fighty months of foolish
ness that are coming make 1t thoroughly under
stood from first to last that they have profound
confidence IN the people and in the financial
future. In serving the country In this way a
few men can add largely to their own reserves
at the same time, and can also help the cause of
sound finance and National wellbeing in the
political field. because senseless spasms of
apprehension in business are always apt TO
cause more or less political unsteadiness.
The occasion is one which invites men of all
parties alike. For all men who are fairly sane
know that the success of Bryan or of the Demo
! cratic combination with any ticket 1t can pos
sibly make this year would be great mis-
fortune for business interests. II may even be
doubted whether the evil consequences would
not be greater than they were in 1898 because
there has been extensive expansion of indus
tries within the last TWO years based upon belief
that healthy industrial conditions will continue
Now the men of all parties who realize that
Democratic success would involve incalcuable
disaster can do much 10 render such disaster
Impossible by making manifest from the start
to the, finish their conviction that the people are
not going to throw away such prosperity as they
have enjoyed.
Because such a course is one which the ablest
and strongest financial leaders would of neces-
sity find most profitable and most closely in
harmony with their plans for the future 1t
| might fairly be surmised that this steady infiu-
ence will be felt during the year through all
vicissitudes of political excitement Every time
the cheap dealers get up a small scare about
gains for silver in one State or for AguinaIdo's
friends in another or for the Ice Trust and it's
party anywhere, the sober thinking of substan-
tia business men is likely to turn to the stock
market rs a convenient means of Furnishing
foolshness and recalling American voters TO a
confidence in themselves After all 1t IS not by
such elements usually foremost in specu-
lation that the great decisions Of the American
people are made, but by many millions of indus
trious. sober and patriotic men who have a pro-
found regard for National honor and prosperity
The men who have risen to extensive command
over great business enterprises are those who
should know best the underlying good sense Of
the American majority.