Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1903-11-28
Review and Outlook Political ReY-
oiutiou.
Wall Street Journal.

taking place IN the political situa-
tion. The two great parties may
enter the presidential campaign of
next year with their positions some
what reversed, the Democratic party
possibly representing the financial
interests back OF the great corpora
tions and trusts and the Republi-
can party, deprived of that support
and entering the campaign as the
advocate OF governmental regulation
Of the railroads and the industrial
companies.
This, indeed, would be strange
metamorphosis Yet, such sudden
changes in the positions of opposing
parties are by no means unpreced
ented. The opposing parties in
England, while retaining their old
names, have more than once reversed
their policies. The Democratic par
ty in this .country of opposition is
necessarily required to take stand
in any political contest on the other
side of every issue to that assumed
by the Rcpu blican party as the par
ty IN power. In the last two presi-
dental campaigns the Republican
party represented the financial inter
ests Of the country, and as their f.
nancial interests ran parallel aith
the interests of the entire people, it
achieved great triumpns at the polls.
The Democratic party, on the other
hand, in these two campaigns repre-
sented the populistic element as led
by William j. Bryan. Its assault
was against corporations, against
the money nower, against the gold
standard. 1t was essentially a
socialistie movem ent. 1t met with
severe reversals at the polls.
But now the situation has chang.
de. In the great prosperity which
this country enjoyed after the cam
paign of the gold standard, the
principle of combination and organi.
cation of business was carried to
the extreme. Enormous consolida-
tons of rival interests took place,
upon continental scale, and the con-
centration of the control of wealth
was carried to point where it APP
peared to many as it the liberties OF
the people were threatened. Some
of these combinations were effected
in violation of law without in the
least sharing in the populistic sentl-
ments which have actuated the Bry
an movement, and in no spirit of
antagonism to capital or of hatred
wealth, the republican administra-
tion at Washington conceived it to
be its duty to enforce the law in
order to check the tendency toward
concentration of the business of the
country into a comparatively few
hands. The result was the begin
ming of the suit by the attorney gen.
eral of the United States against the
Northern Securities Company as a
violation of the Sherman anti.tru
law. The effect of that unexpected
and courageous act OF the. admins
tration has been to turn large finan-
cial interests, hitherto strong sup
porters of the Republican party
large contributors to its campaign
fund, and intimate with the political
leaders, who in great measure con-
troll its policy, into the attitude oil
severe critics and active antagonists
of the administration.
Now to what does this situation
point? 1t points first to an effort
to defeat the nomination of Presi,
dent Roosevelt by the national Re.
publican convention. Undoubtedlv
the financial interests alluded TO
would prefer to maintain their old
association with the Republican
party, which stands for policies
which they have long cherished, il
being the party of sound money and
of the protective tariff But, in the
went of the Republican party nom
mating President Roosevelt and
endorsing his pniiciea Of publicity
OF moderate reaa atlo4 1T the cor
porations, and the enforcement o
the law against them, there are un
nistak able signs that these financia
interests are ready TO transfer theil
al cgiance to the Democratic part,
provided 1t will nominate candi
date and adopt platform acceptable,
t. them.
lhar. are Indications that th.