The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-09-05

New York. Sept Sin August the
number of shares dealt in on the New
York Stock Exchange was only about
10, o0O. 900. compared with 100000 q
year ago. The sales Of bonds during
the same period were $3l 900. 900. as
against t1l3.00 900. In each case the
transactions were the smallest In any
August for about ten years. This was
rest with vengeance. Such inactiv-
be permanent; and now that the yaca-
ton season is drawing to close and
many of the uncertainties which pre-
viously checked business are disap-
pearing, 1t Ia reasonable to look for
increasing activity during the remain
der OF the year. Since January l the
number OF shares OF stock sold have
aggregated 100000, against 1867
100000 last year and zoe 100000 for
the record year of 1901. In bonds the
| sales for the eight months amounted
to $436, 100000, compared with $9a4.-
100000 in 1909. which was the banner
year. 1t certainly. will not be charged
that speculation in Wall street this
year has been reckless or excessive.
! These figures prove that operations
on the stock exchange for the last
eight months have been conducted
| upon strictly conservative basis.
, The political campaign which has
aroused no little concern is now fairly
under way, and the issues are clearly
! defined. During the next two months
We may look for q great deal OF heat
ed discussion; and through the smoke
of political battle 1t will not always be
easy to discern the final outcome.
Nevertheless. the recent declarations
of President Taft and Mr.. Roosevelt
have clarified the political horizon and
served to make the issues plain. The
tariff, the regulation of corporations
and the important question of railroad
rates are now the ruling issues and
their agitation must leave a certain
measure OF uncertainty still to be
reckoned with. Nevertheless, there Is
nothing alarming connected with any
OF these problems. 1t should not be
forgotten that action always runs on
more conservative lines than agitation.
We are now in the period OF disturb.
ing agitation. which is apt to excite
and mislead those who lose their bal
| ance. When II comes to positive &C
ton, conservatism will unquestionably
rule, and those who in a spirit oil
vengeance seek to destroy the tariff
or the trusts, or the railroads will not
prevail. It is easy to take an over
sensitive view regarding these prob
lens. Politics may overshadow the
outlook for some time to come. but the
probabilities are that justice. order
and good sense will rule in the lons
run.
Referring to President Taft's recent
tariff letter urging downward revision
through schedules considered separ
ately, the idea Is not a new one, al
Gated by me over two years ago In a
speech l made before the annual con
vention of the American bankers al
Providence, r. L.. July "a. 1908. In
which said: Il am one of those who
believe that the best interests of this
country demand that the tariff should
be simplified and gradually lowered
say one schedule at q time. with siz
months notice of any important
change in It, This would enable i'm
porters to protect themselves suffi
GENTLY to avoid loss on their previou,
importations. The reduction of Gus
toms duties on commodities and arti
cles of general consumption would oh
viously reduce the living expenses o.
the people, which are now SO great a.
to be the chief source of the discon
tent of Labor"
One of the most important uncer
tainties which lately threatened the
security market has become a matter
of history. There Is now little or ne
danger of any serious monetary crisis