The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-05-17
DdriOuS DeDeL0p=
ments of Recent
Date Exerted q
Good Influence

II is plain that we are Witnessing a
gradual return of confidence in the
stability of our large corporations,
and hence in the investment value of
securities. II was the loss of con-
fidence that caused much of our
trouble during the past six months.
and 1t is certain that as confidence in
ereases, the business of the country
will follow. The first manifestation
of the withdraw of investment sup
mort was seen in a drastic liquidat-
ing movement in the security mar
ket, and il is natural that the first in
dictation of return of that support
should be seen in the same direction.
IL should not he discouragIn.s there
fore. to note that the general tusi-
ness of the country has not as vet
shown the revival of interest which
has been going on in the stock ex,
changes. II may be safely assumed,
that prosperitv will follow the
resent season of rest and adjustment
when large reserves of idle funds
have been accumulated. for such
recovery is certain, as that panic,
liquidation and depression will al.
WAYS follow condition Of ever eN-
tended credit, says the Boston Ffnan-
cial News.
Ii was undoubtedly the socialistie
tendency of legislation and political
agitation, that pricked the bubble
which had become inflated from
several years of prosperous business
and continually extending lines of
credit. II seems that now the true
character of these movements have
become pretty well understood. and
that the American people as whole
are not in sympathy with them.
This fact is being expressed in many
ways, such as the more reasonable
attitude of state railway commissions
in the west and south, and the APP
proval of the recent decisions of the
United States supreme court. These
decisions declared the most radical OF
the laws passed TO be nnconsti-
tutional. but nowhere has there ap-
peared any demand whatever for
revision of the constitution. The
most radical of all the leaders has so
far not dared suggest to the people
that they change this written form of
government. and il may be assumed
ITOIl THIS tiidt SUI II q thtft AAtN
be popular. With all the assertion of
superior knowledge and experience
there has not come one word. adj
vocating change in the constitution.
The knowledge that our higher
court will decide questions in ae-
cordance with the law of the land,
and that tile people are not in any
mood TO agitate change. is causing
the gradual return of confidence. now
witnessed in the large demand for
bonds and soon TO be manifested in
greater volume of general business
throughout the country. II is
fortunate also that the outlook for
crops of which We have any knowl-
edge now. is favorable. and If this
condition continues it will aid
materially in restoring normal state
of affairs. II is the opinion now that
this period of panic and depression
will not be as prolonged as some that
we have had. for first of all the in
fegrity of our currency is not in
doubt. and neither have the large
corporations shown. as a whole. the
same degree of weakness. 1t is a
fact Notwithstanding the clamor of
the past few months that corporate
management has been of a much
higher character, the only evidence of
dishonest mismana cement having APP
peared in some of the banking
scandals There have been few rail-
way receiverships and those unim-
portant. comparatively
The political situation is one of the
factors to be reekoned with. 1T has
been one of the unfortunate features
of the past month that the president
ial campaign was started long before
il is usually. and for this reason ii
has been a disturbing element at a
time when ii would have been re-
garded as merely something in the
future. The nominating conventions
are still weeks ahead of us. and much
may happen in that time TO change
the aspect of things. Ii is encourag-
ing to note now, that the rift Is
toward fairly conservative candidates
in both parties, and that radicalism
appears TO he steadily losing ground
The business interests of the country
are demanding a rest from agitation,
and labor realizes thar II is to its
best interests that nothing be done
to prevent a restoration of industrial
activity The reformer has his
place in the world. and perhaps even
a deluded reformer serves a useful
pupose as a check. but the reformer
now is unable TO do anything to re-
store business activity, and will do
most good by giving way to men who
construct.