The Owosso times. (Owosso, Mich.) 1897-1926, 1904-04-15
An Eternal Law.


prosperity. They may preach dozen
theories to a people distracted by the
description of remedies for ills and re-
puted ills. But amid all the clamor
there remains living and potent this
truth, as a law eternal in the realm of
commerce, that nation cannot contin-
uously prosper unless the men who dis
burse and use its so-called capital have
confidence that their investments are
reasonably secure. Confidence is the
bedrock foundation stone of trade.
Earthquakes are violent destroyers of
foundations, and no foundation can
maintain its level when assailed by sub
terranean violence. Like unto houses
and temples, the great structure OF a
nations commerce may be shaken and
made unsafe by the disturbing of its
foundation or by the mere menace of
such harm.
In the United States thel e is one chief,
periodic season of commercial apprehen-
sion, which either quickly is over or else
merges into national disaster. This sea-
son is concurrent with each Presidential
campaign. When is apprehension fol-
lowed by disastrous realization? and
why does the fear usually vanish when
it is known who is to be President?
What need to ask this double question?
For does not the whole country know,
from experience, its dual answer The
business men of the nation so much
dread the election of Democratic Presi
dent that the likely possibility of such a
panic-producing event, even though it
amount not to so much as probability,
puts quick brake upon the movements
of capital and the trains of commerce.
And when, as has in late years seldom
occurred, the Democrats are victorious,
crash! crash! and down come the but
tresses of trade, and only the riven walls
remain, while whistles and wheels are
silent, ships idly lie in port, railroad
earnings dwindle, corporations and in
dividuals are bankrupted, banks close
their doors, and the workingman, wage
less, spends his days in helpless bitter
ness, either living upon his savings or
daily sinking into almost hopeless debt.
A Democratic victory is to the founda-
ton of commerce what the earthquake
is to brick and stone foundations; the
upsetting of the foundation is the de-
struction of that confidence which is the
eternal law of prosperous commerce.
The last part of the answer to our
double question is that the nation prop
erty-holders, upon whose operations
the welfare of all the people depends, do
not fear the Republican party. They
have never been menaced by it. They
have never been injured by it, They
have never been ruined by it. Conse-
quently they have unshakable confidence
in it, Hence, when the announcement
of the new presidents name appears,
and because that announcement tells O.
Republican triumph, fear vanishes like
mist in the. air.-American Economist.
Commerce has confidence in the re-
publican party, and confidence is the
eternal law of commerce. Upon COM
merce the prosperity of the whole coun-
try is dependent. Therefore, if that
immutable law is not to be violated and
entail commercial paralysis, and if the
United States is still to be the greatest
trading nation on the globe, the con-
gress and the President must in the in
definite future, as they are now, be re-
publican.