Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1913-02-25
Mexican Troubles Have H.
duCed More or Less Hes.
fancy 10 Markets
Outlook for Stock Market IS
still PerpIexing but Secuf'
tiles are Selling
BY Henry CIews.

other week OF hesitation. Nothing trans
pircd Of an encouraging nature. On tlt
contrary, current news generally was o.
an unsatisfactory, though not necessarily
disturbing character. The Mexican dit
ticuItics, although at no time seriously
Threatening the United States, inevitably
induced more or less %hesitancy. Thu
threatening railroad strike alsa had IA
%unfavOrablc inuenee. and while this has
been happily a%vcrted. the fact that 1t is
at the expense Of the railroads was not
cheering news in investment circles. 1t
Is quite, probable that concession will be
made to the frcmcn. and that these VIII
be followed by similar demands from
other branches Of labor In the railroad
industry. The illness OF Mr.. Morgan, II
by no means serious as at first reported,
naturally had an unscttling effect. Mr.
Morgan's affairs are beyond doubt In ex-
cclIcnt shape and should sudden death
happen him their control will be in the
hands OF exceptionally able men, so no
serious consequences should follow.
These three factors, however, should
be regarded rs temporary or superficial
Influences. Back Of them stand considcra-
lions Of a more permanent anu wide
reaching effect. Far beyond Wall Street
and throughout the business community
Of the whole United States there is much
concern over the incoming Adminlstra-
ton There IL no little anxiety concern
Ing both the policy and the personnel Of
Mr.. Wilson'S cabinet. Mr.. Wilson's
theories are generally understood. They
contain much that is admirable and
necessary to the restoration Of political
and Industrial peace In the United States
1t Is one thing. however, to diagnose Il
case properly and quito another to ap-
ply effective and judicious remedies. Mr.:
Wilson must recognize that he Is now to
deal with conditions and facts-not thco-
RIGS. lie has had no practical experience
in national affairs, though 1t Is to his
credit that he has made a capable, CT
hcIcnt and high minded Governor Of the
State Of New Jersey. Mr.. Wilson has
very decided and progressive theories
upon tho most vital economic questions
of the day. All sound and disintcrcstcd
thinkers will agree with him upon the
necessity OF arrestlns monopoly and get
ting back to reasonable and equitable
competition. If We wish to avert q politi-
cal and social crisis OF the most danger
Gus character. Such economic move
ments, however, as have been at work
in the last fifteen or twenty years can
not be arrested suddenly or violently,
any more than the Twentieth Century
Limited" could be stopped within the
length Of IL city block without disastrous
results. The brakes will have to be ap-
piled iudiciously. Mr.. Taft has been
highly efficient in arresting the trust
mania, and under his administration CT
fcctivc restraint has been steadily ap-
piled. Thus far no serious results have
followed, ana the dire consequences pre-
dictcd over the dissolution Of our great
corporations have not matcrialized. ald
are further from sight than ever. Should
Mr.. Wilson carry out the policy Of his
predecessors in q moderate brit persist
cnt manner, he will avoid business de-
mornliatiOn. Should he. however. start
in too vigorously to break up the present
industrial system he may provoke serious
consequences; not alone to himself and
his party, but also to the prosperity OF
the country rs n whole. The Sherman
"" ~ "N''c '"'htA' "SAA SAAhN' y
pretcd by the Supreme Court Of tho
United States. which Is building up step
by step an effective barrier against mon
opoly. 1t is to be hoped that Mr.. Wilson
will recognize the delicacies as well us
the difficulties of the problem which he
proposes to solve. and will be satisfied by !
progressing one step ut a time. Mr.. VIII
sons book on the New Freedom" just
off the press. reflects his particular theo-
rics. and they will probably be extensive
ly Incorporated into his inaugural ad-
dress. Needless to say. n sudden appli-
cation Of these theories would be rcvo.
lutIonary and highly demoralizing.
General business showed q Stacking
tendency: not more 50 however. than Is
usual at this period Of the year. In fact
bank clcarings last week were about s
per cent larger than a year ago, and in
the week previous the increase was -
per cent. ltallroaud earnings in the
fourth week OF January were about 10
per cent ahead OF Il year ago. Our for.
elgn commerce continues upon q heavy
scale. Merchants in the west are antici-
patlfg Il normal season. Shelves gcner-
ally are bare Of merchandise in nearly
all parts Of the country; merchants ana
manufacturers alike having pursued u
hand to mouth policy for months past.
Tariff uncertainties have had much to
do with this tendency, and It Is safe to
say that any probable tariff reductions
have been thoroughly discounted. Bust
hess. however, is not likely to resume
It's customary activity until that all.
important Issue Is scttlcd-a consumatiol
which It Is to be feared is at lcnst two
n three mouths distant. 1t was hoped
hat the extra session would be limited
% the tariff issue. II a fairly satisfactory
bill can be passed, 1t might BIO
desirable to take action on that subject
llso during the special session. Tho pro-
'osal. however, to bring up the antt-trust
question at that time Ia undesirable. The
country badly needs q rest from leglsla.
1--we changes. and the anti.trust ques.
lion might safely be, left alone for ! rev
months TO be dealt with at the regular !,
Of Congress-, beginning Decem.
bers Aext. IN the merchandise natkets
IN tendency has bSsn soa,eWhat toward
prices. IN many cases the necAssar.
LED Of life sfa ~constdershry cheaper THAN
q year ag0. Lately We have had irppor-