As was only to be expected, the price cutting campaign in America has not pleased everybody. It must certainly have introduced a nervous feeling into the wholesale arkers, and must nearly be spelling disaster for merchants with high-priced stocks on hand. This has at once been seized hold of by the Republicans as a useful political lever, and they are now busy pointing out to the merchant classes that the real reason for price-cutting is the Democratic policy of severe restrictions on bank credits. There is undoubtedly much truth in their argument, especially in a country like America where so many businesses rely all the time upon-credit from the banks rather than upon actual capital. Apparently the Democrats are remaining perfectly happy over the whole business, and are simply rubbing it in that under their wise administration things are naturally readjusting themselves. To the rest of the people the principal source of satisfaction must be that the public is keeping its head and is refraining from an orgy of spending which might easily have accompanied the lower prices.
Text read from the printed page and cleaned; old type leaves the occasional error.