Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1907-12-12
PUBLICITY AND FINANCE.

Charles L. Robinson of the
Guardian Trust company is quoted
in the Financial Age of New York
as decrying newspaper publicity
because "the irresponsible editors
and reporters" seldom if ever reck-
on the terrible consequences of
scare headlines. He would have
no newspaper talk of a bank in
trouble.
Too many tinanciers are like
Mr.. Robinson in their assumption
that editors and newspapers are
irresponsible and do not reckon the
consequence of what they publish.
Men in the profession know better
and the bankers who come in con-
tact with newspaper men daily,
know better. There are irrespon-
sible newspapers just as there are
irresponsible, dishonest bankers,
but the press of this country, dur
ing the recent monetary distur-
bance showed a self-restraint, a
conservatism and regard for the
general welfare that deserves high
praise.
This was particularly true Of the
democratic newspapers and in
marked contrast with the attitude
of republican publications in 1898.
Waving the possible political CAPT.
tai that might have been made out
of Roosevelt's laundering Nashville
speech; overlooking the wide open.
ing in the arpor made by an ISSUE
of interest bearing securities in
time of peace, the democrats have
joined hands to help restore conf.
dence and assist republican adj
ministration TO regain the financial
equilibrium its president had npse,
by his wild indiscriminate attact.
on the credit of corporations ant
capitalists, whether good or bad.
Contrast with this attitude of the
Democratic press today the system
pursued in 1898 by the republican
news papers. They not only made
no effort 10 stay the panic of thai
year, but seized it as a great poll
tical opportunity. 1t made no diff
ference to them if they wreck ed
the national credit so long as they
could get away with the politica
spoils of the wreckage. Neither
regard for business interests MOI
patriotic desires to prevent injur,
to the nation sufliced to stay thei,
ghoulish policy. Like a pack o.
wolves they yelped and howled un.
til the whole nation was panic.
stricken and stampeded. The re-
sulting distress and suffering are
too well known to need description.
The wreckers attained their enc
at an awful cost to the people, and
the republican party was replaced
In power at the next national elec.
ton and has been there ever since.
Comparing the records of 1895
and 1896, the democrat leaders and
news papers have every reason tc
resent the suggestion of this New
York banker that publicity in this
emergency has been harmful. Such
publicity as has been given has
been almost altogether of kind to
save the situation. Criminals
have not been spared, but the press
has assured the people rightfully
that there was no occasion for
boarding money; it has convinced
them that the clearing house certi.
ficates were safe and needed to tide
over a brief period of currenc,
shortage; it has succeeded in re.
establishing public belief in the
solidity of the nations banks, and
it has done more than any otbe,
agency to convince foreign fnan.
ciers that the institutions of the
country, its great transportation
corporations and its general bust.