The Paducah evening sun. [volume] (Paducah, Ky.) 1906-1929, 1907-12-06
HARTMAN SEES
SIGNS OF LIFE
Prosperity Has Not Been Kill
ed By Stringency
Conditions VIII BE Better Than Be-
fore the Furry Is HIS Open
Opinion.
BANKS ACTED MOST WISELY

BANKS ACTED MOST WISELY.
Chicago. Dec en- q special to
the Tribune Edward H. Hartman.
head of one of the greatest railroad
systems in the United states, says he
Is Of the opinion that the 'codntry is
already beginning to recover from the
severe shock received in the recent
panic.
He sees signs an over the land of
renewal of that public confidence
without which there can be no pros
perlty. Mills which shut down when
the first shock came are beginning to-
reopen, and Mr. Hartman believes
that IT,. will not b. long before the
business Of the country again will
be in a normal condition.
What Mr.. Hartman sees as the
best evidence of return 70 healthful'
conditions Is the fact that the re-
covery which has set-in is not going
on so quickly tAat. there is dasg ger
Of haying to open b. wound again.
On the other hand. while II IS
steady. It is not SO slow as to check
the confidence Of the financiers OF
the country in making further invest
ments for sober Industrial and CON-
mercial development.
No Stop Now in Progress.
When seen today he said:
1--WE are in the rebound from the
depression, and we are In It to stay.
There will be no falling Blackjack
step that, we are taking is firm. I'm
derneath the whole situations there
is an industrial stability. There IS
too much work TO be done and too
great capacity for doing It TO allow
long drawn ont depressionF
do you think public confidence
Is being restored?'
Il certainly do. There are indica-
tons Of It everywhere. This country
is too big and its people as whole
too sensible, to allow the acts Of a
few men to shake their faith in the
integrity of our great fiE>nciers and
business men as a whole. Naturally
there was a little scare at first. but
when the people saw that there were
rotten spots only here and there
they quicki yrecoyersd from their
fright"
Banks. Not reopie, Hoarders.
But how about this talk Of hoard
ing money!"
Money has been boarded That is
true. but / am sure thst YOU will
find that a good deal Of the hoard
ing has been done by the banks all
over the country rather than by in
divlduals, and the banks were justi-
lied for taking such a course. as they
wanted to be in a position TO protect
the people against themselves II they
lost their heads entirely.
"But they did sot lose their heads,
which only goes to show that it is
always safe to bet on the good com
mon sense Of the American people. "
so you really think the dawn OF
new era Of prosperity is here?"
There is no doubt Of IL" said MI.
Hartman, and he spoke earnestly.
"The great stability OF our industrial
fabric is our commercial asset. On
/ # we are extending our credit as we
must. to carry on the great business
OF the country.
Caution Part of Wisdom.
The overstrain on cash is being
relieved and credit is once more be
Ing allowed to perform its normal
work That is why / know we are
on the rebound TO a healthy and
sound prosperity.
',Of course, you must not expect
all at once TO see every line of COM
mercialS business as active as ii has
been during the last two years, and
perhaps it is better for the country
that II should not 90 be- We have
presidential campaign in front of us.
and Il is only natural we should-feel
our way cautiously for some time
When / say cautiously l do not mean
lhesitatingly. but conseyatively."
No better evidence that Mr. Harri-
man believes business is on the mend
can be found than In the fact that he
has Just ordered back to work 5000
men of his railroads.
At the beginning OF the panic,
when even the wisest men could not
foresee how far It would go, Mr. Har-
riman began TO retrench.
He temporarily halted the great
work of improvement which Is being
carried on on the Union Pacific and
Southern Pacific lines aud ordered
the discharge of 5000 laborers. Now
the greater part Of these already are
back and the original plans are be-
ing rapidly carried out
Resumes Work for RoasIs Sake.
II put the men back in the interest
Of the Union Pacific and the Southern
Pacific" said Mr.. Hartman. o
"When took them of the situa-
ton looked darker than II really
was. But when / saw the steady i'm