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A Republican Bugaboo

A Republican Bugaboo image
Parent Issue
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The Republican papers are, wo observe, trying to make. poliücal capital out of the f:ct that stocks and bunds have declined slightly since Maine disappointed Blaine. 'i'hev urge that vliis flecline is an evidenee of the fear which capitalista feel in regard to a Deinocratip Aiimini-aration of National affaiis, and that this fear is the best possible argument in favor oí the electiun of Garficld. "It is a poor rule that will not work both ways" - let us try this one: In 1873, Maine elected a Republican Governor by 13,000 majoiity, and wiihin a fortnight we had the m sr deatr&etive pnancial earthqaaké the country has ever endurad. In lfs"8 the Repubiieaiis carried Ühio, New York, Connecticut and New Jersey - thus making large gains from the Detnocracy. liefore these Repnblican victories Pennsylvania Kailroad shares - a good test - were quoted at $34, and other stocks stood at a corresponding figure. After these victories a decline began and continued until "bed-rock" was practically reached. Then the reaction came, the benefits of which the whole country is now enjoying. We may remarft that Pennsylvania Railroad shares are now $10 higtinr than when the Democracy uominated their candidato for the Presidency, and legitímate stocks have advanced at least 20 per cent. dnring the same period. Every sensible man knows that the business and financial machine runs itself to suit itself; that a Eepublioan victory or a Democratie victory has no more real influence upon the markets than upon the climate of the moon, and ttmt it tlic inexorable laws oí finalice and business so ordered values would decline if Geofge Washington wrc ip the ! 'resident ial cliair, sápporteA ly a Congrega oomposed exciufively oí " tho spirits of just men made perfect." This latest Kopubliean bugaboo will scare nobody, and only serves to illnstrate (he desperate pitch of Republican fortunes.


Old News
Ann Arbor Democrat