Daily capital journal. (Salem, Oregon) 1903-1919, 1905-10-09
BANKER
MAKES
HOT TALK
GrOwingDiShOn
of New York Banker

VI NSW lVl n 1dhhSA
Annapolis, Mr., Oct. 9.-Dishonesty
in high places in the state, the judi
ciary and great financial institutions
and corporations, and palliation Of
such acts by the masses, gravely threat
en- the future of the country, accord
ing to views expressed today by ]. Ed
ward Simmons, president of the Fourth
National bank of New York, in an adj
dress before the Maryland Bankers
association He pointed to the lessons
taught by the fall of the ancient Ro-
man republic, the reign Of terror in
France and the disasters which befell
Russian arms in the recent conflict in
the Far East, all Of which, he said,
were due to palliated dishonesty. He
spoke on "Honesty Is the Best Pol
icy"
Hears Growing Clamor.
"I hear voices from the East and
voices from the West" he said, "ill-
boding voices, voices from the pulpit
and the divine, voices from the college
and the educator, voices from the
bench and the bar, voices from the
press and its sages, the voice Of the
President himself, denouncing in ring
ing tones and deploring the universal
spread Of selfshness in its meanest and
most repulsive form-that form Of dis
honesty. They bewail one universal
carnival Of dishonesty. Alas, the voices
are not unconfrmed.
CRATER No Name for Thief.
He deplored the conditions which
have led men to tolerate the terms
"grafb" and "grafters" and said he
feared the very use Of the words was
an indication OF mems tolerance Of a
thief and his trade. He called upon
the members Of the association TO give
their assistance in remedying condi
tion which makes it possible "for mer
who pose as the salt Of the earth and
who condemn, without reserve, thos'
who steal $50 or forge a check fol
800, or accept a bribe, who them
selyes make millions by lying, by mis-
representation, by fraud and by bri
berry, without receiving punishment o
even criticism, while the man VIII
steals the paltry sum is sent to jail.
He denounced the man Of stainles
private life who, "in the interest o
corporations, Of the trusts, Of the ga
company, Of the railroad company, o
the insurance company, have recourse,
to every villainy named in the deca
logue; who does the deed Of a high
wayman with the air Of a saint"
Trusts Conceal Dark Side.
Mr. Simmons said that the working
and dangers of great corporations an
multi-millionaires enterprises have no
been and are not as fully understood a
their advantages. He believed tAa
their dark 81 e has not been invest
gated and set out as lucidly and for.I
bly, as their bright side.
He referred to the growth Of th
Socialist movement as 0own by th
last Presidential elections as due large
" TO the fact that the masses Sc
large fortunes accumulated by dishor
l est means, and wi en- so accumulated
: combined TO smother individual entel
prise. He believed, however, that N
situation is not without hope, as tn
very fact that the country has awaA
ened TO the conditions and that fear
less and able men are organizing an
leading a campaign against dishonest
are grounds for hope that a far-reael
ing process has already begun.
Mr.. simmons discussed the taril
scoring severely those who debauch tn
Legislature to enact laws crushing thei
competitors in business or TO exae
tribute from their fellow-eitizens ur
der the name of duty.
Trusts Tend Toward MonOpolies.
"I recognize readily" said MI
Simmons, "the best blessings whie
union or consolidation for busines
purposes, if properly guarded and hor
estly conducted, may bring upon tn
nation. We must not forget, however
4 that all trusts are monOpolistie In ten1
eney, and that almost every industFia
consolidation that has been effected ha
had for its object the eurtailment o
Ill - - - oor,r..titio n