The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-08-09


Wall street is the center Of more in
formation probably than any one Of the
great New York daily newspapers. This
information covers politics, crop condi-
tions. trade movements. manufacturing
operations. traffic data, sgd even what
the world with reference to mineral and
other forms Of production.
Everything that may affect stocks
\ comes accurately and promptly to Wall
street Anything which may offer good
returns upon invested capital is usually
known there first Of all.
n Occasionally some Of the writer's en-
ployed in the street to provide informa-
ton to the outside world. represented in
the commission and correspondence
Houses Of brokers and bankers, take a
hand at politics or some other serious
subject which has only an incidental
lbearing upon stocks and bonds.
Broker Writes Politics.
Yesterday such a letter came to the
Office OF a. G. Plant & Co. from the
New York house which it represents,
containing a review Of the political situ-
alton. which contains all the elements Of
interesting reading The letter SAYS,
lin part:
1--WE are getting reports from one state
after another giving the results Of the
contest between the insurgents and the
Regulars Each side has number Of VIC
-ories on its score. and the Republican
party is evidently badly rent IL not torn
asunder.
THE battles thus FAR are led by the
followers. as neither Of the great leaders.
Taft and Roosevelt. has taken hand,
and both appear To be on a friendly foot
lng How long this can last with the
Bitterness and kissing going on at some
Of the conventions Is a question
AfOrd Hopeful signs.
IAN these conditions are hopeful signs
for people OF common sense in both par
ties and II the Democracy would now
take up sane. common sense issues. 1t
would nnd itself upheld by the great
army Of business people, who, after all.
do the thinking that accomphshes things.
and il could rely for support upon the
great army OF working men and railroad
employees. who do the work that counts
in the nations progress Both these
classes would join the party Of Common
Sense
The Democratic party is logically fitted
10 take up actively the great issues
which are waiting Tor intelligent adop-
ton and leadership. These are. first OF
all reform OF the currency.
THE Republican party is responsible
for the present anomalous and danger
Gus condition Of the currency. Nearly
fifty years ago II adopted the system
which has been in use ever since. and
which Is absolutely unsound and hetero-
reneous For nearly fifty years the Re
publican party has been flirting with re-
form OF the system. but has not. in all
that time. introduced one single sound
change i'm the currency itself The cOun-
Try was saved from swinging to silver
basis by that sound money Democrat,
| lCleveland. and by virtue Of his record the
Democratic party has a right and could
consistently take up currency reform as
the greatest need OF the country to-day.
Il Antitrust Act Needs Reform.
THE amendment of the sherman anti
i trust act is another CRYING need Of the
times. The Republican party is respon-
/ sTbIe for this act which threatens to-day
\ 20 disrupt the delicate organization OF
business. Two Republican President
have averred again and again that The
/ act must be amended or the business OF
Il the country would be overthrow, but
\ neither Taft nor Roosevelt has taken the
first step toward amendment
a sound Democratic party could vel
/ stand for amendment Of the act in the
\ Interest of the wage-earners Of the whole
country. dscarding the dangerous tea
lures and retaining provisions for honest
regulation Of monopoly.
Here. then, are the two greatest issues
before the country. neglected by the party
\ In power. which is conducting Kilkenn,
I cat campaign in its own ranks, ostensi
1 blv on the comparatively unimportaH
issue Of conservation Of forests and waite
1 powers. but really much Of the troubi'
has been fomented by the followers o
Roosevelt. who want their old Offices anI
the power that went with them.
H Drags In the Thrift.
"The tarin has been dragged into thu
arena by the Roosevelt followers, but Mr.
/ Roosevelt never did thing TO or for tn
!; tariff, except 10 let it gingerly alone
4 There are among the prOgressives. how
\ ever. honest believers in remaking tn
X tariff. But the Democratic party is tn
\ party OF tariff reform; the issue belong
X 10 IL and when the party awakes as
II appears now to be doing, from its hyp
motto sleep. during which for some year
II II has taken up all sorts Of decisions.
II should naturally stand for real reyisiol
II downward.
Il Events point now to possible Demo
II cratic House this fall. which would be
II grand thing for the country. as Legislation
II would be blocked and no country eve
II needed less legislation than this one.
while these things are going on, bust
ness is. OF course. more or less affecte
H and disturbed and only actually neeessar
III operations are undertaken"
III