The Chanute times. [volume] (Chanute, Kan.) 1897-1913, 1904-04-29
An Eternal Law.


distracted by the description of
remedies for ills and reputed ills.
But amid all the clamor there re
mains living and potent this truth,
as law eternal in the realm of
commerce, that nation cannot
continuously prosper unless the men
who d isburse and use its so-called
capital have confidence that their
investments are reasonably secure.
Confidence is the bedrock founda-
ton stone of trade.
Earthquakes are violent destroy
ers of foundations, and no founda
ton can maintain its level when
assailed by subterranean violence.
Like unto houses and temples, the
great structure of nations com
merce may be shaken and made un-
safe by the disturbing of its founda-
tion or by the mere menace of such
harm.
In the United States there is one
chief, periodic season of commercial
apprehension, which either quickly
is over or else merges In national
disaster. This season is concurrent
with each Presidential campaign.
When is apprehension followed by
disastrous realization? and why does
the fear usually vanish when 1t is
known who is to be President?
What need to ask this double ques
ton? For does not the whole
country know, from experience, its
dual answer? The business men of
the nation so much dread the elect
ion of a Democratic President that
the likely possibility of such a
panic-producing event, even though
it amount not to so much as prob
ability, 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 buttresses
r of trade, and only the riven walls
, remain, while whistles and wheels are
silent, ships idly lie in polt, railroad
earnings dwindle, corporations and
individuals are bankrupted, banks
close their doors, and the working
i; man, wageless, spends his days in
: helpless bitterness, either living
upon his savings or daily sinking
into almost hopeless debt. A Dem
,, ocratic victory is to the foundation
of commerce what the earthquake
is to brick and stone foundations
!, the upsetting of the foundation is
!. the destruction of that confidence
which is the eternal law of a pros
) porous commerce. The last part oi
T. the answer to our double question
!. is that the nations property-holders,
upon whose operations the welfare
. of all the people depends, do moi
fear the Republican party. They
have never been menaced by it.
They have never been injured by it.
e They have never been ruined by it.
Consequently they have unshakable
T confidence in it. Hence, when the
announcement of the new Presi-
}, dents name appears, and because
7 usually that announcement tells q
e Republican triumph, fear vanishe:
like mist in the air.
I: Commerce has confidence in the
|. Republican party, and confidence is
the eternal law of commerce. Upon
t commerce the prosperity of the
(; whole country is depence 1t. There
!; fore, if that immutable law is not to
be violated and entail commercial
: paralysis. and if the United State:
: is still to be the greatest trading
I nation on the globe, the Congress
. and the President must in the in
) definite future, as they are now, bs
e Republican.-American Economist