The evening star and Newark advertiser., 1907-11-16

ASKED TO
STEM TIDE
Continued from First Page.)


withdrawn, thus aiding in keeping in
circulation the life blood of trade and
industry. would doubtless find a favor
able and enthusiastic response.
Il believe that our two millions of
members, their families and their
friends, with that confidence in you
that has kept you at their head for a
quarter of a century would pay a ready
heed to a word from you in the present
money crisis
The initiative in this salutary move
ment was taken at the regular weekly
meeting of the Essex Trades Council
last night, when by unanimous vote the
delegates were instructed to carry back
to their respective organizations the
cautionary signals set in calm and logi-
cal speeches.
The subject was brought plainly be-
fore the delegates by John H. Mclean,
one of the business agents of the Dis
trict Council of Carpenters, who said
that at present there were about 800
carpenters in Newark who were out of
employment. That condition of af-
fairs, he said, should not exist, as he
claimed that there was no trouble in
the Industrial market
There is plenty of work." said Mr..
McLeani "more than we ever mad at
this time of the year. The cessation of
work is simply due, as 1 said, to fool
ish working people rushing to the
banks and drawing out their money
when there is no cause for it, and thus
helping to retard circulation.
The remedy is simply this: Leave
your money in the banks; do not be
afraid that any of the banks are going
to close their doors, because there is
no danger of their doing So but the
banks can refuse to give you your
money for at least sixty days, If they
feel like it, as they have that right.
"On the other hand, the manufac-
turers can close up their shops and trip
to Florida and stay there for the winter
or else go to Europe, If you persist in
drawing out your money.
Therefore, say to you, get together
as quickly as possible, let your money
alone and in a short time we will all
be better Off"
There was great applause following
his suggestion.
+ John Roach, general secretary Of the
Amalgamated Leather Workers Union,
followed in a similar speech, during
which he said that the example set by
the Chicago Federation of Labor this
week could be followed out in this city
by calling upon merchants and working
people in general to cease drawing any
money from banks for several weeks to.
come, and then 1t would be found that
contractors would go on with work
they have in hand.
81 think everyone should follow out
Mr.. McLean's suggestion and that we
ought to go a step further in the mat
ter and pass a resolution to that eff
feet" said Mr.. Roach.
Delegate Richard Armstrong ap-
peared to strike the most popular senti-
ment on the money situation when he
said This whole business of trying to
scare people into drawing their money
from banks is nothing but a political
movement to prevent President Roose-
Welt from being reelected President"
He was interrupted with applause at
the mention of Roosevelt's name.
Delegate Mclean arose and said some
people were acting unfairly these days,
as he knew of case where husband
succeeded in getting a $3,5O0 loan from
a bank on some property, and the next
thing the wife went to the bank and
demanded the $500 that she had in it,
eff we are not fair to the banks"
he said, chow in the name of goodness
do you think the banks can act fair
with us?''
All of the delegates were asked to
report back to their respective organ
izations that every effort be used to dis
courage the idea of people taking their
savings from the banks.
An appeal is going to be made to
Samuel Gompers, president of the
American Eadara tion of T,abor that he
have resolutions adopted by the con-
vention now in session in Norfolk, Va,
calling upon organized labor through
out the country to leave their money
in the banks, and thus continue the
confidence that has existed in trade in
general throughout the country.