The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1912-02-15
Henry Clews' Letter

70. -,, oih' FEB. 15.-The political
log still hangs heavy over the stool,
market, market so that uncertainty not onlv
aei peNe' cohvalescence but is quite
ap' 10 sustain distrust until at least
~ uesfee Of certainty is felt as to
nv ' nominations. How long will the
BUSINESS interests of the country natl.
"'iS submit to this unsettling politi.
odi agitation and investigation mania .
capital is not the only interest that
10 suffering from this sort of politica,
Ue'"en'ia' Enterprise has already
'eeh seriously checked, and now Ia.
oor Is being thrown out of emnlov
ie"' IN increasing numbers by the
very agitation which politicians pre.
Jena IS for the benefit of labor II
'he investigation probe could onlv he
applled to some of our political aei.
'ators' the disclosures as to motives
would doubtless prove very interest.
ms III some cases these motives are
qui'e as open to criticism as those of
the Money Trust,and even more harm.
iuI' Apparently the country will have
u endure this phase of agitation until
'he close of Congress, which will prob
aoly not be before the national con-
Fentlons in June and July. We are
Ho" 10 be entertained with an investi-
sd'loh OF the so-called Money Trust.
fortunately its original purpose has
oeeh modified and will be carried out
on more prudent lines than at one
time intended. Very possibly some
mucn needed reforms can be effected
upon the methods of conducting large
Hotauons, syndicates, etc If the in.
NesllSatlon is conducted by men of
prudence and experience, instead of
ny professional agitators seeking
cheap political advertising. beneficial
results may follow. Nevertheless,
such an investigation will prolong the
period Of hestancy and uncertainty in
the financial district: for men of bust
ness are not only depressed and haras.
sed by such maneuvering, but their at
tention is diverted from more legiti-
mate opcuno+ione
Outside Of politics the general stu
alton is not bad In fact, there is
quite as much of good as of evil in
the general business makeup. If IT
be admitted that We are still in the
period of readjustment following the
panic of 1907 a better understanding
of the present position of affairs can
be attained, After boom of ten OF
twelve years, which eliminated in
1907, it is quite natural to expect a
period Of several years to elapse be-
fore We get back to normal condi
lions The return to normal has been
made more difficult by the persistence
with which prices remain near the
high level Even now index figures
are only slightly below the high rec,
ord, aud there is little prospect of i'm
mediate relief. Allowing that cheap
ching Of the cost of gold has had a
general effect upon prices the world
over the fact remains that as a rule
supply and demand chiefly govern
prices, and population in all parts OF
the world has gained upon the soil
In nearly all directions relative search
~ prevails downward reaction in
prices. In one sense this is satisfac
tory. It means that to meet demands
not vet satisfied there is plenty of op
pormity ahead for larger production
which will call for larger employment
for both capital and labor. There is