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Thus says the Globe: The uncertainty as to the date of the Doiuinion elections is doing injury to the country. Business is tending towards a state of stagnation, because people do not like to risk the chances. The present situa- tion is unbearable, and should be brouiiht to anend with all possible despatch. The country will do no good until it has been settled who is to liave charge of its interests during the next four or tive veara Already business has received a perceptil)le cheek frc^m the prevail- ing uncerti.inty, and this must, not continue. In this way the Globe talked up to th(; time when the date of the elections was announced. The fact is admitted, but the inference sought to be drawn from it is miles away from the truth. . About eight years ago it became a settled fact that Canada had adopted a iNational Policy — a system of Protection of Home Indus- tries, generally speaking. Following this came a remarkable expan- sion of home production in various important lines. The country positively produced a great deal more of many C(jmmodities thaw before, thereby, as :jiy reasonable man might say — adding to its aggregate wealth. New investments to the amount of many millions were made in produ^'tive'entorjyTums, as distinguislu'd from the mere buying and selling of commodities, and carrying th«m from one place to another. So apparent was this to everybody, that many anionic us, who had stiffly opposed the new poHcy all through, felt compelled to admit that, once it had been adopted, and once extensive new interests had been created under it, a reversal of the same would certainly bring on a dangerous crash, and would have to be avoided, no matter what party was in power. All which was, no doubt, intended to be very reassuring, but somehow or other it was not reassuring enough. Not one-fourth of our business men, whether manufacturers or not, ever really believed that the Protec- tionist Policy of 1879 would long be safe with a Free Trade majority in power. The protestations of Free Trade leaders, intended to quiet prevailing fears, wei-e generally taken, and rightly taken, too, as mere "glitteriun; genoralities," which might mean any- thing or nothing. And iMisiiK'ss men's drt-sid of Hie ' fiindainentaJ principles of €anada\ Niitional Policy. He and his lieutenants repeat now wliat they laid down, afti?r much deliberation, in IHH'i, Quite naturally alarm and disorubt begin to spread ; and now the Globe invites the public to observe how flelay of the Dominion electicjiis is (or recently was) working injury to business. The real truth of the matter is tliat there is only one contingeiK'.y now before the country to create comnu'rcial distrust, and that is the possible success of the Free Trade party in the electi<»ns. From a business point of viev/, there is positively nothing else for the country to be afraid of. The opening up of a vast new country to the Westward is only now just beginning in earnest, and Canada's transcontinental railway is only beginning to show what it is good for, and what it can do. Much has been said about the hasty rush into various branches of manufacture, a few years ago. in advance of the country's wants. Well, such things tmll happen, in importation as well as in manu- facture, also in building and speculation in real estate. Free traders talk as if over-expansion were an evil incident to manu- facturing alone, whereas it is common to all kinds of business. Given a promising situation, or what is deemed such, increased facilities of obtaining credit, and enterprise is tempted to over-do m '6 1(1 itself. Under such influencca people may buiUl totj many cotton mills, or thi.'y may import forei^Mi good.s to such extravagaxit annjunt as to stagger tiie bankn to draw bills of exchange enough to pay for thorn. Or they may build more railways than the country can pay for at the time ; or go wild on speculation in corner lots or blocks of real estate. But what are you going to do about it all ? As far as entering upon manufacturing enterprises is concerned, you can but give our own people a fair chance generally, after which each individual must look out for himself. A present [)oint is this— that, after recent experience, the indiscreet expansion of manufac- turing investments is not likely again to be Canada's particular flanger for some time yet to come. The North-west rebellion is over, the Pacific railway is just bngin- ning to tell on business, and the Dominion finances are now rapidly — even very rapidly — recovering from the exceptional strain put upon them when the trouble came. A remarkable revival of busi- ness appears in store for Canada ; only in one quarter does the commercial .-^ky show any darkness ai all for this country, ilemove but this one thing — the apprehension of an Opposition victory in the elections — and forthwith the country is ready to ad\ance by leaps and bounds. Suppose it were to become a public impression, very generaliy eutertaiued, timt the |>roiectivc system, instead of being minimized and weakened in Canada, were, on tlie contrary, about to be greatly strengthened and enlarged. Would tliat cause any apprehensions of hard times, or of coming disjvster ? Or would not every commercial mAn ** feci it in his bones," so to speak, that a time of higher wages and better profits wr at hand? Promise tlie country that tliere will be more of the National Policy, rather than less of It ; and every prospect brightens— in the banks, on the sti-eet, and everywliere. On the other hand, let it appear as if the National Policy were in danger, and immediately " all faces gather blackness," to quote an expression from Scripture. Such distrust as exists now amongst us is due to ONE cause only — the fear that the Free Traders may win in the struggle, a result which may Heaven forfend ! And the aol« creators and promoters of distrust that we have amongst us are the 13] Free Trade papefH. and Free Tra.lo political leaders. In the pora- mercial prospect the ctmntry aeos nothiiiij t<> be afraid of, except the one contingency— tliat of injury U) the fabric of National rolicy. ^V)l^ ti the Glohe talks of suspense and distrust an|)osif ion (Mr. Klakc) say, ft IV^ti iiiglms siiii«% that hv woiiItri&] Leaga* far gntaitoiiui dlsfcrfimtloa. — Furajuue Niououja, STntarji, Toronto, Oaaada. li< •V m