Vermont, which is always a Republican State, has of course
not only returned a Republican majority, but has greatly increased that majority on the present occasion, probably as a protest against unsound money. The Re- publican majority has never before exceeded thirty. two thousand, but on the present occasion it is above thirty-nine thousand, which is regarded as showing that the Silverite- policy of the democratic candidate, Mr. Bryan, has caused real dismay in Vermont. However, that can hardly count for any very certain omen as to the upshot of the Presidential campaign, for everybody knew that New England would give a thoroughly Republican verdict on the question of the day. Mr. Bryan's strength is in the West, and in the West he will no doubt obtain a decided victory, the result turning for the most part on the issue in such a State as New York or Pennsylvania and the greater States of the Union. We believe that Mr. McKinley will carry the election, but if the struggle proves to be at all severe, the disturbance to American commerce will be almost as serious as if Mr. Bryan were to win. And with Mr. McKinley's vehemently protective programme, even a crushing vote for him,—which we can hardly expect,—would not clear up the outlook. As we said last week, the issue is sure to be a case of Hobson's choice.
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