New-York tribune., 1907-12-08
GOOD TIMES ON THE WAY
4utho11tatiJe assurances of Ow
Fundamental .'r0SpGrifU.

Of the Nation" the current number Of American
Industries prints in the form OF symposium.
testimony from many leading manufacturers and f.
nanciers OF highly optimistic nature IN regard to
the present financial situate From what they
and what The Tribune has consistently maintained.
the real prosperity Of the country is not and has
not been brought into question There is d general
agreement that We are merely experiencing of
those financial disturbances incidental TO the his
tory of every nation IN the making that arises
passes. and leaves the fundamental prosperity IN
shaken and unchecked
ITo print the following extracts from the longer
contributions OF such authorities Andrew Car
nege. George J. Gould. d. O. Mills, the Hon James
Bryce. Joseph o. Cannon, James J. Hill and sew
eral others:
Anurew Carnegie--1he decline in prices would
have been much greater had the people not been
assured that investments in the stocks and bonds
of corporations are hereafter safeguarded 10
much greater degree than ever before Nothing
is proposed or intended by the President in this
direction which is not the law in civilized states
. The President has been truly conservative
force in the country. @nd the investor is now
protected from being swndled by small cliQues Of
men who abuse their hduciary positions as di-
rectors.
George j Could-I think that the trouble Is
very nearly over. In short time We shall find
matters on d normal level To talk of the United
States being financially unstable is preposterous-
The country was never moro prosperous, and am
in position TO know by reason Of the reports that
come TO me the various railroads of the Gould
system. Mr. ]. Pierpont Morgan has shown
himself a patriotic citizen. The whole United
States IS under great obligations to him I con
slider Mr.. Morgan the greatest inancter the world
has ever produced. OF course. all this recent bank
scare is unreasonable. What the people should do
now is 10 take their money out Of their stockings
and from under their mattresses and put Il IN the
bank where II belongs I say with posi-
tive assurance that the banks and banking institu-
tions OF New York are perfectly sound
The industries of this country are in good shape
to-day and will improve. sure. soon peo-
pie realize that the United States is in business for
all time come, and that few months scare u-flI
nor ruin US forever.
4 o Muls-I do not expect anything more than
a short season OF dulness IN business. I think that
the bankers and merchants who are keeping hard
at work strengthening matters that have gone
wrong doing much more good than the men
who are expanding time in trying 10 explain how
IL all happened d.. Hereaborts. the only
marked state OF affairs seems be falling Of in
the tide OF speculation That in itself IS going
10 be productive OF lasting good II IS
very little panic. anyway-not worth mentioning
20 men who recall the several real pancs OF years
ago. There's q slight strain hers and there,
but nothing that cannot be mended
James : HlI-credit Is the atmosphere which
initiates the lungs Of business and when II IS
greatly lessened business must be reduced in pro-
portion be quietly smctkered- Before wa
again realize favoring disposition invest there
must be different temper, q larger view OF JUS
tice, better appreciation OF what the railroads
OF the United States have done and are doing
compared with those OF the rest Of the world.
The duty of the state toward railroad prop
ert- which should have the rights common 70
other property must be considered as we'll as the
duty OF the railroad 10 the public. A heart
union ot all interests, broad and genuine under
standing. and more cautious honest and tolerant
all public VIII most efectuaIly
promote success in indUstrv and sanity and per
manence in the nation
joseph G Cannon-The masses Of the people in
the United States never so rich as they are
to-day The cotton. the corn, the wheat and the
meat produced this year and now waiting be
marketed OF the value Of at least $4,000 0c0
and the people who produced them are substan-
TALLY out Of debt 7 led believe that
the deposit OF public money in the banks under
the law importation OF gold, the rapid
OF national currency by the banks, supplemented
bv the hearty cooperation OF the Secretary OF the
Treasury and the President, will in the near fut-
ure enable New York 70 resume the payment of
currency and the balance NJ the country will
promptly follow suit
The Hon James Bryce-Trade must. under mod
arr conditions 20 on in tremendous volume in the
United States Oscillations in trade. oscillations in
raiiu,av and other stocks-they inevitable as
changes in the temperature and changes IN the
barometer in our atmosphere. All that do
Is IN meet them with serenity. So far 1
car, venture 10 form opinion. the industries and
commerce of the whole continent of the United
states and Canada. also, which Us advancing
With such rapid strides. in q state Of stable
and assured prosperity
= II Carl, Is not time for talking ~ is
time for a strengthening of tho general confidence
IN the unouestionable financial soundness and
.houndng material prosperity of the nation Large
ccrpor.tions are passing through a crucial time in
tbair nIeness experience. The public is crit
il and this feeling is shared by the President and
and rycrT,rF FyfI
,,ao1Ie there Is no feeling of host ty capital or
corpors tons Antagonism is directed to the conduct
of corpora tons which Is believed to be wrong.
Theodore p Shonts-The entire West is covered
NTH croue in place or mort cages. which will be
old At good prices and there more money in
+he country than ever before. Punish the
man and not the corporation. That is the lesson
which this situation should teach
Henry CIews-The country Is suffering just now
frotn ~one business excesses based upon the last
several years of great prosperity throughout
fin, Tinted States The basis OF this been the
excellence OF our crops. We cannot now be very
far from bottom. Very soon will find the winter
Of cur discomfort made glorious summcr by our
own inherent prosperity
r.rces r. Harahau-I optimist and | be-
,i,.. What depression there is will be of short
duratton. Here have all American indus
tries benefited by the splendid crops We can't
t,,e a prolongation of bad times when such things
extst And these things do exist to q marvellous
extent 4 few crazy speculators anG lot of
rervous bank dep0sitors cannot XIII the prosperity
- tho Tinted States-noi In ten thousand years
Thomas l.. James There is real inherent
trouh,o ia this country Business is good: the
crops are splendid. Prices have been too high. but
thn. situation will cure itself in short time
WRECKS BLOCK ST. CLAIR CANAL.
ftpp char pf he fIair