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VOL. LXXiX. No. 3 Published Every Saturday. Edward Lyman Bill, Inc., 383 Madison Ave., New York, N.Y. July 19, 1924
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Business and the Political Campaign
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this time the sky should be somewhat clearer for those members of the trade or of the business world
at large who have ascribed the slowing down of business to the natural effects of a presidential
year and to the uncertainties as to what platforms would be adopted by the political parties and
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what type of men would be placed in nomination for the office of Chief Executive.
With the ending of the long-drawn-out national Democratic convention in New York last week, much
of the uncertainty regarding political promises, aims and choices has been removed, and although neither the
platforms nor the candidates may suit all people, at least there is nothing offered that is so radical as to cause
any great amount of uneasiness.
The business men of the country during the past few months have had a chance to observe in some
measure what sort of a president Mr. Coolidge makes. They have found that he is not given to the spec-
tacular, but shows a New England persistency in sticking to his beliefs and his resolves, even- to the extent of
vetoing legislation recognized as economically unsound even though calculated to meet popular approval. As
to the Republican platform there is little or nothing radical in that, or at least not enough to cause business
disturbance.
In the final selection of John W. Davis as the Democratic nominee there is offered to the country a
man of wide political, diplomatic and business experience. In fact, one of the chief drawbacks to his early
nomination was the claim that he was likely to be too friendly to the so-called big business interests of the
country and not a simon-pure champion of the "peepul." Perhaps the Democratic platform will not prove pop-
ular with those who favor the Republican attitude of protection for the business of the country both outside
and inside of our borders, but nevertheless it is not so radical as to lead to the belief that a change in admin-
istration would injure the country.
The main point is that, regardless of how the election may turn out from a political standpoint, there
appears to be little or no reason for the business interests of the country to worry and to stand pat for sev-
eral months until the final result is learned. There have been years when such watchful waiting might have
been in order, but under present conditions the business of the country is going right along regardless of whether
Coolidge or Davis occupies the White House for the four years from March 4 next.
The retailer who, after a conscientious casting up of his accounts, rinds that there has been a slight
falling off of business during the past few months, can very likely discover without a great deal of searching
some definite reason for it right in his own particular locality. Perhaps factories are shut down or are on
part time temporarily because of hand-to-mouth ordering. Perhaps crops have not brought sufficient dollars
into the pockets of the farmer to warrant him spending money at this time. Perhaps any one of a dozen
legitimate reason's exists for a temporary lull in sales. In practically no case, however, is there lacking some
definite reason for optimism regarding business recovery when the Kail months come around. With retail
stocks at low-water mark, the slightest spurt in buying will result in a rush of orders to manufacturers and
jobbers.
The main and dominant thought is that this year at least business should get away from the bugbear
of presidential year, for there is nothing politically that threatens to upset the even tenor of business. That
the radicals have had little opportunity to have their way with either party's platform is evidenced by the
threats of third and fourth parties to take in the reds and the pinks.
Stopping business to wait for the election returns is not going to change them one iota. There will
be the usual campaign, the usual threats and the usual promises, and when it is all over the country will go
along in much the same old fashion. The presidential year slump is in the same class with the Summer slump,
which has already been proven to be a creature of the imagination rather than of fact.