The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1903-12-02
Review and Outlook--A Political ReY.
Wall Street Journal.

Changes of immense import are
taking place IN the political situa-
ton. 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
lions 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 a 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 Republican 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 fl
nancial interests ran parallel with
the interests of the entire people, il
achieved great triumphs 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 power, against the gold
standard. 1t was essentially a
socialistic movement. 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 vas 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 a point where it ap-
peared to many as if 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
ton at Washington conceived it Il
be its duty to enforce the law il
order to check the tendency towarC
concentration of the business of til,
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 tn
Northern Securities Company as
violation of the Sherman anti trus
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 politica
leaders, who ira great measure con
troll its policy, into the attitude o
severe critics and active antagonist
of the administration.
Now to what does this situation
peints paints first TO- -sf effor
to defeat the nomination of Presi
dent Roosevelt by the national Re
publican convention. Undoubtedly
the financial interests alluded tt
would prefer to maintain their ole
association with the Republican
party, which stands for policie
which they have long cherished, i
being the party of sound money ant
OF the protective tariff. But, in tn,
event of the Republican party nom
iratlng President Roosevelt ant
endorsing his policies of publicity
OF moderate regulation of the cor
porations, and the enforcement o
the law against them, there are I'm
mistakable sigDsthat these financia
interests are ready to transfer thei
: allegiance to the Democratic part,
provided it will nominate Il candi
date and adopt a platform acceptabl
to them.
There are indications that tn
Democratic party is ready to d.
this. 1t has already to some exten
got rid of the incubus of Bryan
The overwhelming defeat of johnson
in the recent Ohio election was
Waterloo for the Bryan eleTent o
the Democratic party. The election
of Mcclellan in New York city ha
given encouragement and strength
to the eastern and conservative wing
OF the party. The return OF Nh
German to the u S. Senate and hi
leadership Of the Democratic forces
there, and part of the revolution
which has taken place in the con
troll of the policy OF the Democratic
party. 1t is within reason to believe
that, tempted by the prospect o
obtaioing the financial support o
powerful business interes 8, of secur
ing return OF gold Democrats who
voted FIR Mckinley in 1896 and 1906
and OF creating some division o
Republican votes for their candidate
the Democratic party ma enter The
nrnaidnnlial nnmnnipn with "A scnn