The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1912-11-04

| NEW YORK, Nov. 4-The financial
! situation here has again been largely
dominated by developments abroad.
/ The Balkan war completely upset all
expectations. The Turks met with
series of surprising defeats, the re-
suits OF which are sure to lead to
important changes in the map of
Europe. There is now little doubt
but that Turkish rule will disappear
| forever in the Balkans, and that the
| Christian populations in that part OF
the world will no longer oe under Mo-
hammedan control. Eventually this
will work for more stable political
conditions in that part of Europe,
| which for generations has been a
! point of serious international compli-
cations. That sacred and indefinable
| thing, the balance of power in Eu-
rope" has been broken; and, while
the war promises an early termination
because of the serious defeats ad-
ministered to the Turks and because
! of the limited financial resources of
the Balkan states. the final readjust-
ment make require time and skillful
diplomacy. The most serious posi-
bility of friction lies between Russia
and Austria. Owing to the reasonable
attitude of the latter, however, latest
advices indicate the chances as be-
| ing in favor of an amicable under
standing. England is likely to play
an important part in the final adjust
ment. Should Russia and Austria get
into difficulties France would probab-
ly take sides with Russia. But Eng
land is very friendly with France, and
has to keep in view the peaceful con-
troll of millions of Mussulmans under
her dominion in India and elsewhere.
German interests also lie in the di-
rection of peace, for she can i'll afford
to provoke the hostility of either
France or Russia, being wholly pre-
occupied with profitable Industrial de-
velopment. At the moment, there
early termination of the war, and an
adjustment of disturbing issues on a
basis that will promote the peace of
Europe and at least partially remove
an element of serious international
friction.
Within a few days it will be def
| niteiy known who is to be our next
president. AS the time for decision
! approaches there is a welcome and
significant subsistence of political agi-
tation. At this writing indications
point to a quiet election, for the
reason that probably all voters have
made up their minds regarding the
candidates, while popular agitation
has exhausted itself and the people
generally are eager for period of
political rest. The quieting down of
radicalism is particularly significant.
Important changes are unquestionab-
ly coming in our political makeup,
! but they are likely to be gradual
changes and not revolutionary up
heavals. The tariff appears to be the
main issue, trusts and currency hav-
! ing been relegated to second and third
places. If Mr.. Taft is elected the
tariff will be readjusted on a moder-
ate scale downward. II Mr. Wilson
| is elected it is extremely improbable
that he will take the radical attitude
sometimes attributed to him. The
tariff is no longer one-party issue,
because the Democratic ranks now
include considerable protectionist
element. BY all fair-minded and in
telligent men of whatsoever political
| faith it is recognized that the pro-
tective system has been established
in this country for many years; that
| important industries are still meas
urably dependent upon it's support,
and that therefore a destructive pol
| icy can not be justified. No sane bus
mess man wishes to see the tariff
smashed. What the country needs
is a gradual downward revision in a
manner that will create the least pos
sible arrangement. No tariff legisla-
ton will be attempted during the
short session of Congress from De-
cember to March. 1t is believed that
| Mr.. Wilson, if elected, has no inten-