The Calumet news., 1912-11-11
clEWs ON DEMOCRATIC
SUCCESS AND PROBABLE
REVISION OF TARIFF


important element of uncertainty dis
appears. says Henry Clews. the New
York tanker. The overwhelming
victory Of Mr.. Wilson, due largely TO
division of his opponents, emphasizes
the coming of new era and the en-
try into business affairs OF important
which, If wisely handled, will largely
solve present discomfort That any
radical departures are impending
seems highly improbable. Mr.. Wit
son is an evolutionist not revolu-
zionist. His party is likely to be
conservative camps. with an infuen-
tial Republican minority capable OF
throwing its weight on either side. so
that extreme action will be difficult.
The great issues for first treatment
are the tariff and the trusts; the for
The emphatic character of Demo-
cratic successes may hasten tariff
legislation and precipitate a special
session. though Mr.. Wilson is believ-
ed to prefer postponement of action
until the regular assembly of the new
he may have opportunity TO properly
familiarize himself with his new du-
ties. Hasty action Is, or course, un-
desirable, yet II may have to be fac
ed; and the steel. cotton and woolen
schedules will be the, chief objects OF
ocratic tariff leaders are to be car
ried out. as seems possible at this
writing. After all has been said and
done. 1t is not likely that any serious
inroad will be made In. the tariff be-
yond moderating the extreme sched-
ules. The tariff is 10 longer a strictly
party issue, and the Democratic par
ty now includes an influential pro-
tectionist element which would join
the Republicans in opposing extreme
measures. Mr.. Wilson, though a low
tariff advocate, is opposed TO radical
changes. recognizing the unwisdom
OF a violent disturbance to establish
ed industry. and having already ad-
voted gradual revision. Revenue
necessities will also limit downward
cuts IN rates. Nevertheless, the fact
that tariff changes are impending will
be unsettling TO certain industries.
and no relief can be expected until de-
cision is reached.
Outside of the few industries vital
ly dependent on the tariff. the fact
that the election Is over is most en-
couraging. Political agitation will
now largely subsde and must run on
more rational lines. The incentive to
win votes by sensational methods Is
gone. Radicalism has received a pro-
nounced check, and once more at the
critical moment the people of the
! United States have shown that they
| cannot be induced to follow extrem-
lists, no matter how fascinating and
plausible their theories. Apart from
the tariff question. there is much In
| the election that should strengthen the
| confidence of business men. The pres
| ident- elect is man of high charac-
\ ter, great ability, firm purpose and
| temperate action. There Is nothing
| IN his election that is likely to inter-
| fere with business activity That Is
more dependent upon the stimulating
| effects of the magnificent harvests
than upon any political activity oi
| policy. although the present forward
| movement In business will unques-
| tionably run its course more freely
and more smoothly now that the elec.
ton is matter of history. All indi'
cations point to a period of excep-
tional business activity which sooner
OF later must be reflected In higher
security markets, Monetary condi'
tions are improving. and the iron ant
steel industry continues on Its record
breaking course. The business boom!
in England and Germany show no si'
ens of cessation and since our presen
Industrial activity is partly dependen
upon world wide development there
Is the greater reason for its Longer
continuance. The foreign trade o
both England and Germany Is grow
ing by leaps and bounds and 1t il
highly satisfactory to note that tn
United States Is winning its share
our exports of steel products havin,
grown tremendously the last few
months and yielding good profits II
1 spite of competition with foreigl
makers.