Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-06-17
4 "Pertect1y Safe" Candidate
From, Wall Streets VieaO

"" wall 0tI0ot ICSdIuo tAO 1HOPuOAA
~ can nomination for the Presidency is
\ i indicated by the quiet yet significant
comment of that careful observer, Stewart
P. West. Writing from the center of New
Perks financial district, he points out, that
whatever stimulating efec1 the choice OF
conservative" at Chicago was likely to have,
was being anticipated in pc,vious advance IN
stocks, SO that there was no immediate re-
action to the announcement of Senator
Harding's nomination. But it was none the
less obvious to a practiced glance that the
news was keenly gratifying to those special
interests which hope for no favors from
Democratic Administration. There was not
more published opinion because, as Mr..
West explains, ''there was no desire to ad-
vertise the fact that Harding was just the
right sort of candidate from the point Of
view Of big Business" But
II there had been any doubt on this
subject it would have been dispelled
by the way the nomination was brought
about. Actually, whatever was said in
few houses to the effect that by no
means the strongest man had been put
ND. there was in secret practically una,
nimity that the Republicans had chosen
candidate who, in the opinion OF large
business and financial interests, would
be classed as perfectly 'safe."
Now, nobody with his wits about him will
deny that an important qualification for
President or for any other In n1gn autnofity
ia that he shall recognize all r1ghtfui IN
Aterests of business, big and little ALIKE
shall have mind to encourage enterprise
and Initiative to protect lawful investment,
and to keep the springs OF our natlonai
prosperity secure. But there is world OF
difference between this sort OF conserve
tism which is only another name for COM
md
near-sighted, knee-crooking, dollar-adorlng
conservatism which spends all its pains up
on a single class and single region 10
the neglect if not positive injury OF the
; country's rank and file. 1t Is just THIS sort
of conservatism" that gives the radical
fuel for his fire and breeds all manner OF
economic distempers, from wild speculation
to ruinous panics Had the United states
Government continued under the control OF
those Wall Street powers whose test or
candidate is whether or not he is perfect
ly safe'' for their particular interests,
America could never have withstood as
sturdily as she did the financial shock or
the World War; could never have mustered
her resources as efficiently as she did for
hr victory bringing blow in the struggle;
could never have reached her present stage
of readjustment without serious or even
ca1amitous financial reaction. For it is a
matter of common and vivid recollection
that the very forces now rejoicing in the
Republican nomination of a "perfectly
SAFE candidate, opposed to their utmost the
Democratic program of banking and cur
rency reform and. virtually all the other
constructive measures which stood, and still
stand, a saving bulwark against the might
lest tides that ever beat against the naion's
financial strength. 1t was Democratic WIS.,
ion, Democratic initiative and business sense
that saved the wise acres of Wall Street
from the folly of their own conceits.
We do not mean to identify Senator
Harding himself with any sinister interests.
But the significant fast already juts out
that his nomination by the Old Guard of
Republican reactionaries brings altogether
complacent smiles to clique which once
could rule or ruin the countrys business,
but which for these last seven years has
had to obey instead of dictate the laws.
Few Americans, we take it, upon sober Sec
ond thought will wish to rush a return of
that oigarchy to power-least of all those
Americans who Value economic security and
freedom.