The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1920-11-26

fore some of our captious friends of
what is presently to be the opposi-
ton, seeking solace for their election
smarts, exploit these things to the nth
degree, and demand to know if we
regard them as satisfactory results
of the Republican victory, and it, in
case they had followed Democratic
victory, we would not have charged
them to that party's account; to which
we cheeringly answer, both yes and
no. But in the late campaign and
election there was no dominant aeon
omic issue, and therefore we do not
consider all the changes which are
now occurring or likely to occur as
due in any way to the result on No
vember 2.
In one respect, indeed, they may
be thus attributed, namely, the fall
in prices. That which is surely not
to be considered an unwelcome or
undesirable change, may be in meas
ure and perhaps in large measure
due to the Republican victory That
is because the coming of that party
into complete control of the govern
ment is recognized to mean a change
in fiscal policy which will make an
end of the processes of initiation
which have unwisely prevailed under
the present administration. and which
will lead directly to liquidation and
to return to normal conditions. An
ticipating that, no doubt many bust
ness concerns are making haste to
get in on the ground floor" by be-
ing among the foremost to get back
to rational standards. To that ex-
tent we are quite willing to regard
the slump" as a satisfactory result
of the election.
Beyond that, however, thoughtful
men must realize that the present
processes in business have little or
nothing to do with the election, but
are part of the natural and inevitable
progress Of events following the cata-
clysm of the Great war. There must
be reaction from the initiation and
it is unpleasant to add, the profligacy
of war time The reaction will doubt
less be marked with a fall of prices,
with lower wages and with decreased
demand for some forms of labor, and
with an apparent decline of prosperity
chiefly of the profiteering type. 1t
would have come, soon or late, just
the same if the Democrats had won
and if Mr. Cox had continued Mr.
Wilson's policy. We have only to re-
call what happened at the close OF
the Civil war. There was great in
flation, with high prices and pros
perity, for few years. In 1872 Grant
was reelected and a continuation OF
his policy was assured. Yet there
followed one of the worst financial
crises and business depressions in all
our history. That was not because
of his reelection, but in spite of it,
and because of other influences.
So it IS at the present time; though
we have no idea that the slump" is
going to be anything like as serious
as some are predicting. The decline
is chiefly seen in quarters where in
flation was most marked. Many en-
ployes are being thrown out in some
quarters, but there is an ample de-
mand for them in others. There is
business depression in some cases,
but on the whole there is and will
continue to be prosperity, which will
be all the more wholesome and sub
stantial because we shall have got
rid of the specious and spurious pros
perity of wartime profiteering and
i,f l,t;op Haruau'c WaaL1,,