The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-09

Some such discovery very clearly under
lies last Tuesdays vote, and II is not 90 be
wondered at that on the returns securities
became very much stronger last week In
Wall Street In all the directions in which
they are now dealt In. These symptoms
that the capital markets were stirring
with new life IN response To the election
results were OF the most hopeful augury
for the eventual restoration OF American
prosperity. They showed that when the
readjustmcnt Of the financial and bust
ness organization To the conditions OF the
war are completed money will be forth
coming for the expansion OF American en-
terprise with a confidence that has not
been possible FOR years, because politics
did not make for Investment confidence,
but the contrary
Both in the rejection Of the third party
movement which resulted In the accident
OF the Wilson Administration and in IN"
lack OF a convincing Endorsement OF the
Admin strat TONS policies in the business
field the election Jus; held is precisely
such revelation OF the public mind as
thoughtful students OF American political
history have for some time been expect
ing Il is not supposed for one moment
that the election points to a backward
swing OF reaction to such political dis
regard q square dealing in business.
conspicuously In big business. as began 10
PROV Okc the rebellion OF popular discon-
tent about a decade or 80 ago. Neither is
| the encOura cement which the investment
community will draw from the election
involved In any suppositon that there will
{ he slackenins IN the public demand TO
have governmental safeguards thrown
around investments which will protect
. corporate capital from being exploited
nv the custodians OF II as though they
we've its exclusive owners instead OF trus-
tees.
,r'hc-e saerrs boUove- warrant for he
| leving that the public desires 70 seek the
political accompli shment OF social justice
through a practical regard for business
/ facts and IL not at all interested In per-
petuating a leadership which will go TO
any extreme OF vote coaNing radicalsm
! 20 attain the ends OF personal ambition
| Nor does the public seem TO he pleased
( overmuch by policies which make fish of
I one kind OF worklngman and flesh Of
/ another, as in the new antitrust laws .
/ which recklessly cut tariff protection
! from under established enterprise closely
/ % ssociated with the American wage scale !:
which seek to set up a preposterous some
! thing called a democracy Of credit" In
| contempt for the experience Of dealers in
q credit which single out special class
| OF citizens 10 bear the burdens OF add
| tional taxation. and IN the whole orbit OF
, lawmaking activities aim TO put restraints
| on ability and thrift on the hypothesis
opportunity for the incompetent and the
! wastfful.
No one who has been much in contAc,
with the investment markets OF late years
could have any doubt that politics was
| discouraglng new enterprise. Despite all
| the faults Of which American business
could be Justly accused it did not deserve
| 10 be made the object OF n political cru
| snde which was fairly and often enough
| described as "anti-business The feeling
| which last weeks election has already be-
gun TO spread through the financial and
| commercial community Is that politics OF
the anti-business kind has efrectually come
10 mn end. The sentiment thus engendered
Is first cousin TO the hearty confidence In
! tho prosperity OF the American future In
which the countrys periods Of economic
| expansion have always originated, and II
! last weeks elections are Trustworthy
guido TO political thought domestic In
husnces are In process OF generation which
will assist marveilously in overcoming the
tremendous business difficulties created by
| the European war.