The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-11-12
RELATIVE IALt Is.

RELATIVE VAIL LS.
Following the result of the election, stocks
declined seriously on the New York exchange
For weeks before November s. ex-fresldent Roose-
welt had been procamng 10 the country at Large
The interest of Vail street in his defeat Nor
ably Pigment of brain over ready for discoy.
cry, it be denied that Wall Street thrilled
with pleasure at the going down of the Colo
mel. 1t had scores to settle and tomahaWk
In its hand. Yet. when revenge complete.
when what IL professed to tear ayerted.
stocks declined radically The market. that
ought to have been SO strong. palpably
weak Judged by the ticker the results Of
Tuesday constituted financial reverse.
Had Roosevelt and the Republican ticket gen
orally been successful. the decline would have
possibly been sharper than it has been The
Street had been living ON its hopes. AS the
star OF Roosevelt declined, purchases took an
upward swing. BY the time the hopes for the
present were fully realized, they had ben dis
counted up to the throat latch. The good news
out In the rush to cash in on profits
tenders exceeded offers. So it was that the
country has had the spectacle OF Wall Street
securities suffering IN value because of the fall.
ing in of the contingency which was to be their
strength. The science OF stock gambling being
the science of knowing it first, the actual has
little effect except occasionally cause reverse
Of the course of prices brought about by its pos
s.sta4
ones. cautiously waiting for chances to become
facts have gone logically" into the market
only to see the market itself apparently stuitify
everything for which it had hoped.
Typical of stock market conditions as this
instance is, it ought to give to the country a
lesson in sanity in calculating tie industrial and
commercial Importance OF political campaigns.
Only before they resolve themselves do the for
tuhes OF this politician and that one have ma.
teriat effect on prices business. TO Wall
Street the election which so excited it is mat
ter already of almost ancient history, Indus
triously it is hunting for new potentialities Al
ready it is seeing in the rainbow OF It's hopes
the pale color OF its fears. Already ii wages
mimic warfare over minors impossible of yeri.
fication Like the seismoeraph. it trembles
nightly with earthquakes far hidden in the
seas of probabilities. 10 the life-the real life
OF business around it It's fluctuations bear no
material relation The world wags on and the
stock exchange wags with il. according to its
whims and its own specious philosophy.
Relieved OF the excitement of the great biennial
game, The men OF business and commerce anu
manufacturing everywhere are again taking up
the routiiie Of effort What may or may not
happen when. more than year after the event
the new Congress shall convene Is now OF the
most utter triyiaiity. The book is closed The
page that thrilled the country has been turned
down and forgotten Like all those chapters in
the individual life that in the reading held the
limit OF tragedy, the election always pales in
the eye of the future into the gray mist OF an
all but forgotten crisis. 1t is only with dis
lance and perspective that. in the dwindng in
significance of things that once doomed so large
we can hope to catch the relative dimension of
their Importance