The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1906-06-22

association ut Elkins Wednesday
Senator Elkins said in part:
Mr.. Chairman ] recognize that
stand in the presence Of a body o.
representative men Of West Virginia
amongst the most intelligent, honor
able and influential in the State
Bankers, the owners and managers
of the banks and trust institutions
of our wonderful and prosperous
state, Of which we are all justly
proud.
The prosperity and progress Of the
state depends largely upon the bank.
crs. They can often make or un.
make a business enterprise. With
limited capital to workon our bank
ers have made a record, and are do
| ing well for the business interests Of
the state Business is increasing 50
rapidly that we have not capital
enough to meet its fair demands.
We need more capital. Bankers all
over the state are embarrassed for
the want of it. We must depend
upon our own banks to borrow
money for home business and inn
provements. Money will not come
into the state from the great centres
to be loaned on the securies we can
offer. We want ito induce capital
to make investments in the state, as
surfing ii fair and liberal treatment
and just protection.
Money in certain sense is con-
centrated power. Ina mans pocket
it is his most loyal and unfailing
friend. The most lonesome person
in all the world is one walking the
highways without dollar. Money
is an order for what the world pro-
duces, and in all Countries and
climes this order is always honored,
Bankers deal and have to do with
money, and money being a powerful
| factor in the social and business
world, makes the business of bank
ing, apart from the high character Of
the men engaged in il, not only re.
| spectacle, but honorable and infiucn-
tital. Bankers have always exerted
tsgreat power and influence on the
communities in which they live. In
England a person wishing to be ad-
vised about a business transaction
consult a solicitor, and then sees his
bankers and takes theiradvice, which
| is generally more practical than that
| of the solicitor.
There is enough wealth in the
world now to prevent poverty, but
we have not vet learned how to dis
tribute it We understand the ways
| of accumulations, but not of dis
tribution. Society and government
are constantly struggling with great
questions. Society, under. o free
government has reached the point
where it can in the end get what it
demands, what is best for it, and
protect itself without force. There
is a new light arising out Of the
ocean Of the past; we see it but dim
|ly, but it's growing brighter and
brighter.
We have heard Of an income tax,
and lately "a progressive inheritance
tax from a high source down in
Washington, and for the past three
or four years up here in the -Noun-
tains wehave heard Of and had to do
with another kind Of tax. Taxa
ton has always BEEN a fruitful
source Of trouble whatever form II
takes.
Great questions give society no re-
pose. Shall we have an income tax
first and then an inheritance tax?
The twentieth century will witness
a struggle between indiyidualism
and collectiyism. Socialism, in il
present form as we understand it,
has been d failure. Itdoes not have
on its present basis the cohesion q
definite purpose. To be better, f!
society, and be successful, it will
lhave to he snodifed, Competition
and indiyidualism goihand in hand
Competition, up to q certain point
Ihas always been wholesome and bene
lfcial in commerce and business
| Beyond this point unrestrained com
petition defeats itself, crusfes on
deposition, and absorbs everything
before it. Isl
Unrestrained competition in thl
business world throws society bacl
on the cruel law Of the survival .
the fttest, and in thelend the stronl
prevail and dominate: Competition
and individualism arethe parentsso
present conditions, Of trusts, ccmbin
! ations. and colIosaI fortunes: I'm
measurable benefits to society hay'
Icone about through indivi dnalism
;lBut The question y has indivldual'
Iment Of busi ness and social condl
fions, when, with its great pseful
ness and benefits, great evils sneces
81 III N1lnr5 IN ifs fraip. Thl