New-York tribune., 1900-04-17
TO SECURE PROSPERITY.

1t depends much upon the business men or
this country to determine for themselves
whether the rest of the year shall he prosperous
OF not Rarely have they us much power aS
they seem likely to have this year, at least until
after the Presidential election. Then, as most
of them realize, Il Republican success would
stimulate all trade and industry by establishing
confidence, while Il Democratic victory would
threaten changes of unknowable magnitude and
importance. But the result of the election Will
itself depend much upon the course Of business
men before It comes. They can WELD great
influence directly rs citizens upon whose knowl-
edge and trained judgment many habitunlly
rely but they can Influence events far more by
their conduct of business during the months
that precede the election If they produce gen
eral disaster, extensive losses among producers,
restricted employment and reduced wages
among the workers. vanishing of confidence and
disposition to defer new ventures among capi-
talists, they may influence the political results
much more than they expect or desire.
1t seems we'll TO turn attention TO this state OF
facts thus early, because some men OF worth
and honorable purpose are taking exactly the
course which is most likely not to promote gen
eral prosperity. The worst thing that can hap
pen all will realize, would be n sudden and seri-
ous setback In the fall after crops have begun
to move. To lower range of prices coming
early business could soon adjust itself, and
its influence would only be gradual because
many of the works have already insured them
selves profitable employment by contracts
renchiny far into the fall which would make
the wear by 10 means unsatisfactory in general
result if sufficient contracts for the rest of il
should be accepted at lower figures. But if
there should be "A stubborn holding of prices at
or near the highest points reached in last years
IL l,g,,,.
tEan possibility of serious ana sudden decline
in the fall when expiration of large contracts
viii bring many more works into the market to
seek business and when confidence regarding
the future may at times he shaken by the shift
ing currents of popular feeling respecting pOliti-
cal affairs.
1t seems the part Of prudence to permit and
even TO invite before midsummer whatever
yielding i'll prices may be found needful TO
cure Il free and active distribution Of products
and full employment OF works through the year.
Until such an adjustment has come. the general
belief that il Is inevitable must hinder business
In many lines. The iron manufacture feels the
effect of this hndrance already in nearly all its
branches. and there Is the same restriction in
the boot ana shoe and rrx tile manufactures In
part il is because speculation in wool and cot
ton and hides clings to the hope OF higher prices
In part it is because powerful combinations III
some branches of the iron and steel manufact
ure. in leather. copper, and cotton and wOolen
goods, are disposed 10 hold prices AS long rs
they can in the hope that tit of reaction in the
fall may somehow he avoided. But the danger
for a is that sudden fall in spite of resistance
may bring evil consequences which could now
be easily avoided
During the coming campaign there Will be
few hundred speeches every day about trusts
and mOnopolies and the prices by which the
people are plundered. There has been no DIM
Guilty Ia making people understand that prices
of materials were extraordinarily advanced las!
year. not In this country only, but by forces
affecting the whole industrial world, and that
the rise in finished products was almost without
exception compelled by and reasonably proper
toned to this increase In cost of materials. But