The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-12-01
PUBLICITY AND FINANCE.

Charles l.. Robinson of the Guardian
Trust company IS quoted in the Finan-
cial Age of New York as decrying
newspaper publicity because the ir-
responsible editors and reporters" sell
dom if ever reckon the terrible conse-
quences OF scare headlines. He would
have no newspaper talk of a bank in
trouble.
Too many fnanciers are like Mr.
Robinson in their assumption that
editors and reporters of newspapers
are responsible and do not reckon
the consequences of what they publish
Men in the profession know better;
and the bankers who come in contact
with newspaper men daily know bet
ter. There are irresponsible newspa-
pers just as there are irresponsible.
dishonest bankers, but the press of
this country during the recent none
tary disturbance showed a seIf-re-
straint, a conservatism and a regard
for the general welfare that deserve
high praise.
This was particularly true of the
Democratic newspapers and in marked
contrast with The attitude of Repub-
lican publications in 1898. Waving the
possible political capital that might
have been made out of RooseyeIt's
bluhdering Nashville speech; over
looking TIE wide opening in the armor
made by an issue of interest bearing
securities in time OF peace, the Demo-
Gratis have Joined hands 10 help re-
store confidence and assist a Repub-
lican administration TO regain the
financial equilibrium its president had
upset by his wild. indiscriminate at
tacks on the credit of corporations and
capitalists, whether good or bad.
Contrast with this attitude of the
Democratic press today the system
pursued in 1893 by the Republican
newspapers. They not only made no
effort to stay the panic Of that year.
but seized it as a great political oppor-
tunIty. 1t made no difference to them
II they wrecked the national credit so
long a. they could get away with the
political spells of the wreckage Meth
er regard for business interests nor
patriotic desire TO prevent injury to
the nation suficed to stay their ghoul-
ish policy. Like a pack Of wolves they
yelped and howled until the whole ma
ton was panicstricken and stemped-
ed. The resulting distress and suffer
ing are too well known to need de-
scrfption- The wreckers attained their
end at an awful cost to the people, and
the Republican party was replaced in
power at the next national election
and has been there ever since
Comparing the records of 1898 and
1896, the Democratic leaders and news
papers have every reason TO resent the
suggestion Of This New York banker
that publicity in this emergency has
ben harmful. Such publicity as has
been given has. been almost altogether
Of a kind 10 save the situation. Grim
inals have not been spared, but the
press has assured the people right
fully that there was no occasion for
boarding money: it has convinced
them that the clearing house certii-
Gates were safe and needed TO tide
over n brief period of currency short
age; IL has succeeded in re-establish
ing public belief IN the soiidity of the
nations banks, and IL has done more
than any other agency 10 convince
foreign fnanciers that the institutions
of the country, its great transporta-
ton corporations and its general bust
ness affairs are on a sound basis.
The president of the United States
has done more harm with his scare
hea0" speeches and yellow policies
than all the irresponsible newspapers