The sun. [volume] (New York [N.Y.]) 1833-1916, 1904-10-28
Betting and Specializing on the
Election.


Tho bets on the election Of which there
is . daily record represent an utterly
insignificant part Of the money which
has been risked throughout the Union
on the election OF President ROOSEVELT.
They afford only trifling indication Of
the prevailing confidence in that result
as compared with that Of the stock
market and business and onterpr rise
generally.
Whatever other causes may have con-
tributed to give the upward impetus to
the stock market which has bsen 90 re-
markable recently, the prime and most
potent cause has been unquestionably
confidence in the election Of Mr.. RoosE-
WELT and the continuance Of the tried
and successful policy Of the party now
In control OF the Government. The
stock market may be described as pc
ouliarly an election market For the
moment the international complication
caused by the Russian outrage or
blunder or hysterical denomination Of
timidity in the North SEA- has thrown
something OF q cloud over the situation,
but 1t seems reasonable to assume that
all possible danger Of serious trouble
will soon DO removed by proper explana-
ton and apology on the part Of Russia.
That cloud dissipated, the hopefulness
which had risen in the financial and COM
mercial world will be restored.
This confidence, bred Of the prevail
ing confidence Of business and speoula-
ton in the continuance Of the Republican
party in power, recalls the state Of bust
ness sentiment as the election of 1900
was closely approached. 1t L. even
stronger, 80 far a. IL indicated by the
steady advance in prices on the Stock
Exchange during a very considerable
period since the opening Of the present
Presidential canvass, and more espe-
cially during the last few weeks.
That Ia. many millions have been
risked in Wall Street on tho election OF
Mr.. RoosEvRIT, and the Spectators who
have ventured their money because Of
that feeling OF assurance have been men
in every part Of the Union and in both
parties. Even the South, which will
vote solidly against Mr.. ROCKWELL,
has contributed considerably. II not
largely, TO . speculation which would
not exist II there was not such q feeling.
II there should arise any serious and
widespread doubt Of that result of the
election tho speculative current would
at once be reversed, with consequences
which would be calamitoua, at least
In the business world generally thsce
would be like setback II the theory Of
the continuance Of the Republican party
In power, now 90 strong, should Do
abandoned TO any wide extent. To say
that the policy in government which
the Republican party represents gives
o basis Of certainty to business, and that
the substitution for It Of the problemati-
cal policy Of the Democratic party would
Introduce q serious element OF uncer-
talnty into business, is not to express
partisan prejudice, but to record fact
which is recognized by every man OF
affairs. The election Of Mr.. PARKER would
put business all at sea. No definite
Of the results Of it could be
made, except that the doubt would be
injurious, II not oalamitous.
Mr.. HAT expressed the feeling when he
said on Wednesday night that If you
vote the Republican ticket you know,