Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-12-07
PHASES Of PRESENT
FIN CIAL
QUESTION
ALBUQUERQUE BANKER ON
CAUSES OF DISTURBANCE
Address of Cashier R. H. Col
Iier of State National Bank
Before Brotherhood of St.
Paul, An Able Analysis of
Situation.

dut MI HUlG ANALYSIS u
Situation.
AT the customary meeting of TN.
brotherhood of st. Paul on Thursdal
light the paper of the evening was b,
Mr.. r. II. Collier. cashier of tn,
state National bank, on tn subject
Some Phases of the Present Finan
cial Question" Mr.. Golfers pape
Twas heard with very close attention
lnd It's keen analysis of the presen
lnancial situation, the causes benin.
[ and the conditions which make ii
continuance impossible, brought $,
1 much favorable comment from thos
N"ho heard it that there have been nu
nerous requests for its publication. A
he request of many of the business
men present and of the Morning Jour
lal, Mr.. Collier has consented to tn,
publication of the paper, which fol
lows:
III is presumable that every man ant
woman and every child, If II has en-.
cred the age of discretion, in this
COUNTRY is responsible, in a greater OF
ess degree. for the present panicky
conditions. We have been going too
asst, living too fast. discounting the
uture too much, and trying to do
more than We ought with our means
lr our credit If W. have not peer
iirectly doing this, we have al least
encouraged it in others.
Naturally the papers of the west
md the papers of the east are at wide
'aflahee as TO the cause of the trou-
lie we nave experienced. In reading
II eastern paper a short time ago |
earned that the trouble is due to the
Wild n optimistic west. IL being the
dea of our eastern friend that the
vest should become a gigantic "sensi-
I've plant, which would open and
lose according to the indications of.
ay, the New York stock exchange.
he west has been disposed TO be bull
sh, while the east has been bearish,
'alues in the west advancing surely
IND steadily, while stocks generally
ave been tumbling in the east for the
last year.
While Ii IS my idea thai every bank
er in the country that has had anv
disposition at all TO keep abreast Of
he times, has seen the approach of
he furry of 1907, it has been greater
II severity than anticipated by any
one. and 1t Is probably expecting too
much that the banks should have been
% securely entrenched behind bull
varks of conservatism hat such con-
iitions as ave been imposed upon the
country could be easily ignored. Great
developments, great expansion, enor-
nous and golden opportunities have
leen for several years before us. and
, would not have been human, nor
would IL have been wise, or tudicious.
o ave ignored all but the regular in
I 5estments. There has beer a need
or all that has been done in the de-
EtnInnTnanf Of fHA rAa OIL
there will continue TO be still further
iced as time passes on.
The differences, however. between
legitimate opportunity and those
which do not look well, If found out.
must appeal to many. in these times
when secrets will not stay hidden. II
5 the opinion of many that this panic
has been precipitated. rather than
caused, IN the same way that the
loanic of 1898 vas precipitated. 1t has
loeen popular for many years to speak
ld~isparagingly of American business
men. their methods and the institu-
ltions with which they have beer CON
Ineeted. In but few exceptions. both
the secular and the religious press
nave We'd with the magazine writer's.
lChautauqua lecturers and ambitious
In painting in most SOM
Der colors everything American. and
gazetting as unworthy OF confidence
quite indiscrlminately American bust
ness men. A few most shameful dis
closures, such as the insurance in
Vestigation, the deal In the consolida-
ton of the New York street railways.
etc, nave been held up quite univer-
sally as fair Illustrations OF conditions
generally. instead of exceptions. |
Threats of prosecutions of unnamed
persons, unnamed corporations. etc, |
a no less renowned parsonage than
our worthy president, on underlined
and indefinite charges. have been lib
orally exploited. Naturally these
have had their influence. Uni
versal business confidence can not be
maintained indefinitely in the face of
universal denlinciation. and when con-
iidence forsakes Us there is nothing
left on which to rest our business and
superstructure.
Lest / be misunderstood. / wish To
say that while democratic in my faith.
nave ever been an admirer Of Presi-
g n Roosevelt. but Il has been con-
sidered by many that possibly some
" his utteranccs have been iIl-timad.
10 say the least. To say that the pres
dent is responsible for the present
however. would be both un-
lust and untrue. II the presidents
- NHh tAtN VI AAtt
panic, then there IS only one thing for
congress to do. aud that Is to pass a
forbidding the presidents making
'peeches or suggesting legislation. As
20 the newspapers that las d all to the
PRESIDENT. ignorance can not be imput-
ID to them. they are simply using the
public confusion for political ends. ~
stated above. ! am not q partisan Of
he president. nor do I approve uf
'v%erything he has done. but if he D.
'esponsible for The situation. We do
rot need currency legislation. but sim
by 10 get rid Of him
| do not think this country viii
yer uutgrow the lifr towards civic
business Righteousness resulting
rom the policy OF strict enforcement
q law which has characterized the
administration Of President Roosevelt
'ut IL g. quite certain that IL WIm take
u some years TO 0utgrow the VII ef-
resulting from agitation. reck-
legislation. and ili-cOnsidered
Prosecutions by those who have been !
Inable 10 appreciate the presidents
purposes. and who have theref O. f,
5ught popularity By initiating the
'eakest rather imam the strongest siae
z his administration. Tell the Amer I
sn people 3s5 days in the "a th~t &
They make ten ~unprontabie invest
AaHA 49, q - L.