THE POLITICAL OUTLOOK.
THERE are, it is to be regretted, but few organs of public opinion that consider the results of popular elections from an independent or non-partisan stand point. Yet it is desirable, even for partisans, that, occasionally, discussions of public events and lessons of elections should be presented which are neutral as regards party, and disinterested as regards persons. To treat of the recent State elections in this spirit, is the object of the present article. The significance of the elections which have been held during the present year, and more particularly during the months of October and November, no one will dispute; hence it cannot but be instructive to point out the causes which led to the victory of the Democratic party, and to strive to forecast the probable effects upon the presidential contest which awaits us in 1868.
The causes of the recent defeats of the Republican party may be briefly summed up as follows:
1. Its position with reference to local issues, such as the Excise and Sunday law in New York, and the prohibitory and license laws in Massachusetts and Maine.
2. The general stagnation in business. There has been no commercial panic daring the last eighteen months, because extended credits, which are the prime cause of panics, did not exist; but business men all over the country have lost money. There has been a shrinkage in the values of provisions, cotton, woollens, and, in a word, in every manufactured product. Gold and real estate are still held at fictitious prices, but, in time, will settle down to a proper level. There has been distress in all branches of business, a diminution of apparent fortunes, and the pressure of taxation has been keenly felt. The chief cause of this state of affairs has been the contraction policy pursued by Secretary McCullough. But, whatever the cause or causes may be, the responsibility is attributed to the party in power, and, as is always the case in a free country, whatever of popular dissatisfaction may exist is visited upon it.
3. The developments of frauds in the Revenue Department and in the management of the canals in New York State, have exercised great influence upon the voters of this commonwealth. It has been the misfortune of the Republican party that its members were officials in these departments, and that they are known to have profited by the waste and corruption of which alarming revelations are made every day.
4. The negro suffrage issue. The fact cannot be gainsaid that
