The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-06-10
THE BUSINESS REVIVAL.

The commercial and financial press
of the East is n unit on the great fact
that genuine revival Of business
has set in. Dun's Review. for in.
stance of jung 9Th. says, every test by
which trade conditions arc determined
records Improvement, - and il goes on TO
recapitulate and specify. Other papers
speak in the same vein. and there is
unanimous expression that bettered con.
ditions have come and are likely to
stay.
AT the same time, the sentiment is
that the change of National administTa
ton. with the reversal Of policies which
this change brings with il, is the chief
factor in the better business conditions
Thus the Commercial and Financial
Chronicle, in its review OF 1.-The Finan
ial Condition under date Of juno 9TH.
puts the case strongly i'll these straight
forward words
What is the reason for the rejuvena-
tom The ready reply Will be that sen
tment has changed. But why has Senti-
controlled by fears and there was Just
ground for those fears. Now those fears
have vanished. The causes were largely.
II not entirely. political. And no one can
deny that the political aspect. at least
as far as national affairs are concerned.
has been wholly altered. The transfor-
nation In that respect has been no less
striking than the transformation IN the
trade situation. When business men pro-
ceeded so cautiously in January and Feb
ruaTy OF the present year, II was in the
main. with the view TO awaiting and see
ing what would be the policy and plans OF
the new Administration coming into pow
er on the ith OF March. II is hardly
needful to remind the reader OF the de-
pressing influence eNerted by the late Ad-
miniStratlon or to recall the ebullitions
of wrath the denunciations OF the courts
the assaults upon corporations and
wealth. the attacks upon the railroads.
and the crude propositions for recons true
ting the industrial and economic fabric
which We're hurled al suffering public
with such painful frequency under that
Administration.
Would the new Administration follow a
similar course? II so, then IL were In vain
To hope for return OF normal trade ac-
tiyity. Anxiety on that score was quickly
allayed. The test came almost at the
moment that the Administration took Of
fee: and Mr.. Taft lost no time in making
his position understood. On retrial OF
the celebrated action against the Stan
dard OIL company, in which a fine OF
100000 had been imposed, the trial
judge was obliged 10 order an acqulttal.
since the prosecution had no case, We
all know what bitter words President
Roosevelt used last August when the
United States Circuit Court Of Appeals
reversed Judge Laudis and how his every
utterance breathed defiance Of the courts.
The new Administration treated the fail
ure OF its suit in totally different way.
IT acted with dignity and composure.
Through AttorneyGeneral Wickcrsham IL
announced that It would be guided en-
IirelY by the rules laid down by the
courts. There would be no litigation for
sensational effect Cases similar to the
one that failed would be abandoned. and
the legal department of the government
would hereafter make sure that the law
had actually been violated before II at |
tempted prosecution.
Since then the Government has been |
acting in similar sensible and dignihed /
way. showing that its policy would be not /
10 disturb but to assure the mercantile |
and financial world-that nothing would |
be done To threaten the security and sta
bIlity OF legitimate business interests. !
This Is ali that the public had been wait |
ing for and all tllat anyone could ask for. |
Here. then. we have the reason why bust
ness mon have been taking new hope !
and trade. activity has been spreading in
all directions. Moreover. the fact that |
trade has quickened SO decidedly. with |
assurance on that point. indicates what |
actually occasioned the panic of 1907 and |
the trade revulsion and convulsion that
followed In 1908. No doubt n large part |
of our population never fully appreciated |
what hlighting influence upon trade the
OlN ppnlNaI. lnllOrnrcS ana lDelDp0S naU |
eXcrted. But the lesson. and the evidence
OF II. Is now before them. 1t Is IN the |
highest degree gratifying that the old
conditions arc now behind Further
moro, in the chnnGc which has occurred |
to new and better conditions, we mani /
feStly have a sure foundation for cndur-
Ing trade revival and for the glowing l
prospects Of the future which are now
being so generally entertained.
All Of which Is not only rcassuring
for the present but Notwithstanding
for the future. Unless all signs fail.
the black cloud Of the Roosevelt panic
Is passing under the horizon, never. we
trust, 10 reappcaT