The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-05-07
WORTH CONSIDERING
CAREFULLY.

OAREEO ILI.
The recent conditions in CONNER
cial life in the United States afford
conclusive evidence Of the i'll effects of
the insurgent movement now chiefly
located in the halls of Congress. When
there is direct responsibility on the
party in power. by reason of all select
ed representatives of the party stand
ing together, the people have conf
dence in practically knowing where
they are at, even though they may not
always like the way things go. Owing
to the insurgent movement, however,
and the uncertainty of the outcome,
there is a lack of such confidence. The
result is that the business situation is
becoming uneasy, and financial and in
dustrial stringency surely follows a
continuance of that condition. Already
we can see this first tangible effect of
insurgent politics.
The west is getting some specific
lessons in this particular direction For
illustration, a year or so ago an issue
Of per cent bonds from so large and
.
Lake City would have found eager pur-
chasers at par Now the highest fig
ure bid to date is 90 cents The school
board might be willing to let part of
the 100000 bonds go at 90 or 96 cents
for special reasons, but they cannot
find any buyers who viii get up even
to that figure while the insurgent
movement holds sway. Fortunately
the Salt Lake City school board. not
/ having launched on the building of the
new high school, or even selected the
/ site, is in a position to defer action in
/ the hope of a more favorable oppor-
tunity. In the meantime insurgency is
+ dealing the new Salt Lake high school
a sharp blow.
/ Nor is Salt Lake alone in thus being
/ hit by the movement. There is quite
a number of others. The city of Spo-
/ kane, Wash, for instance has voted a
bond issue of s25O.O00. at Az per cent.
the bonds running the usual twenty
years. Spokane's financial responsible
/ ity is first class, but in the bid for these
bonds there is not an offer to pay even
par for 4 Y per cent bonds, which a
year ago would have demanded a
handsome premium.
In this state, also, there are some
municipal bonds voted and carrying as
high as 6 per cent. The responsibility
is good, though not so gilt-edged as
Salt Lake; but the outside bond buy
ent at least.
Thus the disturbed political condi-
ton is injuriously affecting business.
and is blocking the progress of indus
try and education. The public. even
/ to the children, are paying a heavy
price for political insurgent tactics.
The business and industrial interests
! Of the country are not unmindful of
the experiences of 1892 and following
! years The insurgent movement
among so-called Republicans gives
some color to the Democratic claim of
heavy gains for that party: and the
nearer the country approaches Demo-
cratic domination the less confidence
there is in the business world. and the
more hastily do commercial and in
! dustrial enterprises seek cover from
impending disaster. If it should ever
come to really tangible prospect of
Democratic triumph, there will be a
repetition of the old rush, every man
for himself, and the devil take the
hindmost," with the Industrial work.
ers in the latter class.
Then these same insurgents will be
explaining that they never meant to