The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1906-06-24
The American
Habit of
EXtraVagance
ny sTuYvEsANT FISH. President Illinois
Central Railroad

/ Ill Central III
the household will question that people spend
thrf earning money freely and wasting to such extent
make proverba that what thrown out of ktch
@~ ems would support FRUGAL PEOPLE in almost any
try Europe While have years become in
small manufacturers still essentially agricultural
people, producing from the soil than and exporting
the surplus hence however small which the average
saved by each citizen rebounds the benefit of all by increasing
ACCUMULATED capital.
Turning general public economy examine
preparations made by congress- by the state legislatures and by
municipal governments without apprecang that there each
conspicuous AND GROWING lack of economy There
extravaganza administration commonly
called graft which combination of bribery and larceny but what
economically worse the laws framed get the best
out of the taxes paid by the people.
WHAT HAVE TO NOT so MUCH THE MAoNl.
ruDE OF THE APPROPRIATIONS AS THAT OUR LAWS REQUIRE
THAT uNEcoNoMlcAL AND, THEREFORE, USE MADE or
THEM
need not repeat that the country prosperous and likely
continue While fully apprecatng these facts shut
the trouble that has been going the CENTER of
financial system Much has been said in the press only the wes
but conservative Boston, which reminds of the old fable Of
the quarrel which the various members of the human body had with
the stomach for after ALL admit that it Wall that
securities are DIGESTED.
With of what has been said in violent dnuncaon of any
thing and everything Wall have sympathy although
the other hand admit that MUCH Is WRONG there
The situation may be illustrated by rather unpleasant smie
Throughout all time have had trouble with their digestive proc
until day much from which fathers had gnorany m
fered pain inflammation these parts has been distinctly dag
noed coming from the emfom appendix and modern surgery
has in thousands of succeeded in SAFELY REMOVING that
rudmentary and useless organ the relief of the Having
looked into the myself somewhat carefully of ae all
seriousness that the insurance companies other
corporations there need the advice and probably KNIFE
of the TRAINED surgeon.
There the management of many corporations and it
should be removed cost what may for the benefit alike of the pa
ent and of the community Without pretending any superior
knowledge the subject but having given thought only of
te but for years past with respect corporations generally think
that THE ROOT OF THE EVIL lies in few having
deraken manage TOO MANY corporaons that doing
they have perverted the powers granted under corporate charters
their hurry to do vast business.
While the evil applies corporations generally throughout the
whole country meaning perhaps be best illustrated by taking
the Of the three life insurance companies New Yokthe
Mutual the New York Life and the Equitable year these three
companies had shown the directory of Directors published by
the Audit Company of New York. nneytwo directors
WHO LIVED IN NEW YORK. Of them one was member of
seventyree boards another of fyeigh another of fyour
other Of fyhree another of orynne another of foyseven
other of forty-three and another of forty-one
AND TO SUM UP, THOSE NINETY-rwo GENTLEMEN HELD
CORPORATIONS WHICH WERE SUFFICIENTLY WELL KNOWN TO
BE RECORDED IN THE DIRECTORY ABOVE REFERRED TO.
hoy-Pusng feh Knoxow ttouftful of hm'