The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-11-03
CREDIT Men HEAR
TALKS ON FINANCE
GOVERNOR MANN And FORMER
MAYOR MCCARTHY MAKE AD-
DRESSES AT MEETTv0.
POINTS MORALS
WIT
AT PRESENT RATE OF DOING BUS
MESS, SAYS Give wIRE,n MAT
TER OF MILLION IS SMALL
AFFAIR.

One Of the most interesting semi
business events Of the season was
the quarterly meeting of the Richmond
Credit Mems Association, held last
night at the Business Mems Club.
After an enjoyable supper had been
served the three score or more men,
bers present, President John s. Har-
wood introduced Governor Mann as
the first speaker
The Governor expressed his appre-
then told of the impoverished con-
| dition In which the South found it
| self and which continued for many
| years after the war. 1t was much
easier to fight \ battle, charge a bat
| terry or perform some heroic deed
on the battlefield, surrounded by the
! inspiring scenes of contest and with
| love of country ablaze In the heart,
| said the Governor than to take up
the burden of life day by day. week
| b. week. month by month, and year
| by year, in the face OF difficult and
| almost hopeless conditions. The hero
| ism of the Southern people in the
times OF awful adversely after the war
| was. the Governor thought. even
| greater than their heroisln during the
| time of the bloody strife.
Value Of Character.
Tho Governor referred to the large
| number OF young men In his audience.
| lie impressed upon them the value of
| character. Credit, said he. is the
| capital which character gives a man.
Character Was the poor mans only
capital. while the rich man had money
as his capital The speaker express
| ed the opinion that credit should be
| given the poor man who satisfied the
| business people that his character Was
| good.
The Governor diverted the company
| with some of is choice anecdotes driv-
! ing home the truths he sought to I'M
press. He described the cotton situa-
| ton as he had found II, and created
! inerriment by saying that he returned
| home loaded with cotton. He closed
| with an appeal to all present to work
! worthily and manfully for the devel-
! opnent OF the best and highest In
! terests of the State.
Live Wire Heard From.
| After Secretary 10 Lane Stern had
read certain communications and
| given the members of the association
Information as to the workings ana
| literature Of the association, Prcsi-
/
/ Mayor Carlton Mccarthy.
! The Live Wire was at his best
! In thirty minute talk he mixed Wit
/ and wisdom, financial lore and good,
honest fun. to the extent that all
| present were ready TO give him a
| vote OF thanks
In humorous fashion Captain Nc
| Carthy assured the Credit Men that
he favored everything that looked 10
h{r1 {vYsr hn xVfn 70 ~ he .yC4~
and the merchant more closely. He
! convuised the association by his wit
ty thrusts at business methods. and
| gravely assured the body that he was
/ absolutely against this thing of one
institution exchanging information
! with another as To the standing of
their customers. He said 1t caused
private affairs to become too widely
| known.
Warns Hearers OF Debts
! Becoming serious. he warned his
! hearers against the awful. stagge--
ing. continuously growing public debt
I~-government. State. municipal. coun-
ty and school district. He didn't be-
lieve there was a man In the en-
ploy OF the government who real
ICED the extSA OF the debts or the
country. And as sure as the sun
rises and SETS" said .ne speaker.
| there rHQEt pt AH eIiu u kniS kiilAS
of debt" The tendency OF the times
Is to hopeless bankruptcy. No one
pays heed to the raising ~ money.
but plunge headlong into debt for
improvements OF every imaginab!e
kind
The Tax Commission. he said. was
looking around for new sources from
which to derive revenuc-but there
was but one source--the pockets or
1 H.,
| which cause exorbitant taxes must
cease, said Captain Mccarthy. The
talk of putting more taxes Ola these
| railroads and banks. and insurance
companies and other corporations ia
rot" he said do they not. immc-
/ diately the extra taxes are levle ].
Immediately have their ingenius at
torneys to so rearrange their own
charges that the money Is forthwith.
people. making the public the real
source OF all revenue.
Million Small Matter.
II have got so now said the
speaker in his humorous strain. Il
don't think a million dollars Is any
thing" referring to the great public
expenditures OF the times.
Then he struck another practical
4 note He suggested that Bradsteet
and Dun might do a public service by.
instead OF trying to find out whether
a man had fifteen dollars in bank or
a five-dollar overdraft. looking into
and reporting upon the great financial
institutions and see what they were
doing with their money and ascertain
ing. TO what extent they were led up
With certain other CRETE financial In
situations. He professed profound dis
trust OF the New York methods Of do
ing business and In q characteristic
way denounced the close connection
between the big banking and life in
surance concerns OF the American