Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1911-10-05

ex1gency arising at any time In a de-
mand for money. II vested In one
person or set of persons. the business
can be intelligently done. panics
avoided, and money sufficient for the
purpose Of business constantly kept
on hand. The present proposition OF
the monetary commission. which
believe win be recommended to con-
gress. is that this authority shall be
provided by q combination of all the
banks Of the country, reserving to
the smaller banks power of selec-
ton greater than the ratio between
their capital and the capital of the
larger banks, In which board or
agency the government shall have a
representative. not so that it may
control, but so that 1t may have a
voice In the management.
Il have considered these points with
a view to an appeal to the public In
behalf Of reasonable. moderate action
and treatment for the purpose of en-
couraging the investment Of capital
and OF promoting prosperity. depre-
cate vindictive feeling against railway
corporations. against the competing
parts OF trusts after they have com
piled with DEGREES Of courts disinte-
grating them, against a reasonable
treatment OF the business dependent
on the tariff. or against the solution OF
the monetary question. which appeals
to all reasonable and experienced men.
.
In attempting to rid ourselves Of
the evils that were growing In bust
ness so as to put dangerous power
into the hands Of concentrated wealth,
we had to do many things that sa-
vored Of hostility to capital. at least to
the capital which was engaged in those
things that 1t was thought necessary
to enact statutes to condemn. am no
defender Of those evils. On the con-
trary. / have been as strongly In favor
Of their suppression by statutes made
effective as anyone: but think we
have arrived at time when the people
themselves ought to acquire sufficient
perception into the operation OF eco
nomic forces to realize that sectional
prejudice leading to legislation against
the interests of one part Of the coun-
try will as certainly rebound to the
detriment of another as night will fol-
low day. We are in the same boat
We are tossed by the same waves.
Why. then, should we allow the politi-
cal fortunes of any man or set of men
to mislead US into q hostility toward
parts of the country which IL certain
to work injury to all?
1T is not a progressive policy In any
true sense to be hostile to prosperity
Of any part Of the country. 1t Is not
progressive to be against railway cor
poration because It is railway cor
poration. 1t Is progressive to take
measures by statutes which shall reg
ulate railways and prevent their re-
curing TO evils Of which they have
been guilty In the past; but. assum-
ing them to be engaged In lawful bust
ness, 1t is of the highest interest that
We should secure to them reasonable
rates, so that their, shareholders may
have a profit, and that we should not
enact legislation in spirit of hostil-
ity and think that merely because we
have hit railway corporation and In
jured 1t we have done something for
the public good. Any other view IL
lacking in sanity. and II is that spirit
of unreasoning and unreasonable an
tagonism which political exigency
seems to develop. and against which
the complaints Of business men may
with propriety and good reason be d.
rected.
"Of course, we are all anxious to pre-
vent the acquisition of undue profits
by anybody, whether in the form Of dis
eliminating rates and rebates or by
combination in restraint of trade, or
by any other means which is unlawful
or improper; but we ought not to allow
our fear that something OF that sort
may happen to lead us on to general
attitude of enmity toward the accumu-
lation Of money by thrift and fore
sight and to its lawful investment In
great enterprises for reasonable profit.
THE misfortune of the situation I
perfectly realize. II is one OF the in
evitable consequences Of deep-root-
ed evil. You cannot eradicate 1t by
popular movement without the move
ment becoming SO very strong as to
be carried for the time beyond the me-
dian line OF common sense and into
the extremities Of unreasonableness.
I'VE have reached point where we
can call halt. not in the progressive
movement to keep business free from
these abuses. but where we can call
halt against appeals to a spirit Of
pure hostility to prosperity on the
without being dishonest or a violator
Of law In securing the profits of his
business
let US reason together. Let us be
charitable and kind. Let Us not be
80 suspicious and ascribe corrupt mo-
tives to every one in the community
but our particular friends and politi-
cal associates. Let US do team work
in the community. Let us have legisla-
ton that helps, or AN absence OF leg
islation II 1t be unnecessary. And let
us approve and praise the great busi-
ness enterprise and genius that honest
ly and by proper methods accumulates
property and puts 1t into productive In
dutries. supports the thousands of
workmen. and furnishes profit to those
whose savings have gone into the
shares and bonds of the enterprise.
This is the hope have for the fu-
ture. Business is hating now. There
Is doubt and distrust among invest
ors, due to fear Of blind enmity to-
ward successful enterprise. What
is the remedy? 1t Is the restoration
Of confidence between the classes OF