Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-09
WELL-A-DAY, Mr.. DAY !.
Noted Chancellor Erupts at a
Bankers Banquet.
WIDE RIVERS OF BLOOD
Says That Blind Demagogues Are
Leading the People.
RICH MEN NATIONS BuLwARK
Chairman Charles A. Fowler Also
Made an Address on Banking
and Currency. !
RICH MEN NATIONS BULwARK

guest of honor at the annual meeting and
banquet of Group V of. the New York
State Bankers, Association at the Teneyck
Hotel, tonight in a speech again de-
nounced those who would create class
hatred and prejudice and cause distrust
genius and money turn the wheels which
give employment to millions of laboring
men and women
Representative Charles N. Fowler,
chairman of the House committee on
banking and currency. also delivered an
address. Gov. Hughes was unable to be
present because of pressure of business.
Chancellor sDay quoted from a speech
of Daniel Webster more than half a CEN
tury ago denouncing what he called "just
such attacks as those made in these days.
and declared that the address sounded
as If it were delivered yesterday. but did
not sound like the one delivered week
ago yesterday. He protested against the
inference being cast forth that the great
er proportion of the business of the coun-
try being done through corporations was
criminal. and announced that in the in
terest of a square DEAL we should call
for a bill Of particulars.
Gigantic Political Game.
"I charge this whole business" he said
with bearing the earmarks of disloyal
SANDER and defamation Of the commerce
of the country.
1.-THE attacks upon men and corpora
lions are in the terms in which the SIAN
derer talks. They are not judicial
specific and particular. They are sweep
ing, reckness, indiscriminate and on The
face of them for the most part false.
The whole thing Is a gigantic political
game in which the people are being de-
ceived for a while. There is just truth
enough in some of the assertions, there
is just prejudice enough in a great class
of the people. there is just moral pre-
tense enough in all of the ranting to
make it a winning game for the time, but
as sure as God is true and right is right.
a day of judgment is coming and you
need not envy the scandal mongers who
in that day will take their places on the
indelible pages of history.
Geniuses Of Commerce DETAINED:
Evils there have been, evils there are
and always Will be, but they never have
been and never will be- remedied by the
blind guides who are leading the people
into the ditch with indiscriminate defama-
ton ~ -; -
Honor there is, too. Honesty there is
in our men Of business, which Is our M:
tons mfghtiest asset and which we may
boast as our Just pride and glory.
THE trouble has not been that our
great geniouses Of commerce and manufac-
ture have become maiefactors. The world
has no nobler men. The trouble has been
that the muck and slime of the vil.fiers
have been flung over the men who are
dfscredited in the markets of the world.
No wonder that wild, frenzied desper-
ate offers are made to throw off the re-
sponsibility. and place 1t upon the men
who have been our bulwark in the storm.
rawlings of Demagogues.
What of our future? If you will stop
the rawlings of the demagogues: If you
will serve vigorous notices on the men
who are defaming our business men and
discrediting our trade by representing our
products as the sum Of all vilainy in fraud
and adulteration; If you will call to ac-
count the men who are depreciating our
bonds and stock in foreign markets by
comparing our great center of brokerage
and exchange with den OF thieves; II
you will insist that our great railways
shall have fair play in their efforts to
make new adjustments and to- meet the
demand Of a. fabulousfy developing coun-
try; If the whole people will rise up out OF
suspicion. distrust and ignorance concern
ing economic conditions and insist that
no. man. shall have their votes or their
following who defames his country. sixty
days will put an end to these hard times
and they win not return while we main
tain our -self-respect and insist that the
rich and the poor shall live and work to-
gether in harmony under the guioinS
providence Of that God who made them
ALL
Prophesies Bloodshed.
but II you acquiesce and by silence
consent to the infamous work Of the,
scandal mongers and permit the widening
of the chasm between our thrifty classes
and the restless anarchistic socialiste;-f
YOU indifferently look on and utter no.
word of protest against an agitation that
invites the anarchist to shar-en his dag
ger and that appeals to the poor to take
the property of,the rich with violence De-
cause ii. has been stolen from them: II
YOU admit the justice and righteousness
Of these assaults upon the mighty ferns
Of our. finance, manufacture and trade,
and the estates of the successful in the
development Of our industries. prophesy,
as l did the panic more than year ago
from the same causes. that before an
other half decade blood will flow in our
streets and the night riders torch will
glare. p.
Mr.. Fowler's Address. -.
Chairman Fowler of the House commit
tee on banking and currency said in the
course Of an address:
''rhe bill introduced by me provides for
a. guaranty fund of 500, 900. 900 in the
United States Treasury to protect the
deposftors in national banks, All deposits
In our banks are involuntary. No. one
has the privilege of putting his money
where he will earn fair rate OF interest
say. ) per enthusiastically free from risk,
and at the same time be able to recall
il should he desire to use It, Every one
must choose some bank and the very
fact of a choice implies a risk. Not one
person in ten thousand has any idea
whatever about the true inwardness of the
bank at which he is doing business. In
the last analysis 1t is absolutely a matter
Of faith and blind faith at that When
a bank fails it is mot as though mans
life has passed out, or his home burned
down. Beyond this the ramif1catfons OF
credit are so extended and Intricate that
the business of the whole country Is at
fscted by bank failures. 1t Is impossible
TO estimate the evil consequences, direct
and indirect, growing out of them.
Such a guaranty fund in the United
States Treasury would avert panics. 1t
would prevent that fear which leads to
boarding. Unless the RELIEF advocate is
afforded, sooner or later we shall have
postal savings bank in this country: and
then the government win have to become
a large buyer of bonds to invest the ac-
cumulations of the people. s~s
s.More than this the states are already at