Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-10-19
WHATS THE MATTER7 -
Some Causes of the Business Depres
sion and Social Unrest.

From the New York Journal Of Commerce
Securities have fallen. capital is appre-
hensive, trade is slack, and for weeks
nothing but gloom and uneasiness have
lowered over the financial district The
question. Whats the matter?' is con-
stantly asked, and is decidedly pertinent
In the upper circles of finance this dis
trust is not seriously concerned about
trade reaction, high prices. higher wages
short crops, tariff. etc, for these are not
unfamiliar difficulties, and capital usually
adjusts itself to the ordinary to and fro
movements of commercial affairs without
much delay. But back of all of these
difficulties there is an added distrust, a
distrust that threatens the nations we'll
being and peace of mind. There is a
real but much suppressed fear of deep
seated political unrest, symptoms of
which are constantly cropping out upon
the surface. The words socialism and
anarchism have become unpleasantly
familiar. and there is a vague wonder as
to what will be the final outcome of cur
rent public distemper
This is. or should be, very suitable
time for little thorough introspection,
which may throw not little light upon
existing causes of unrest. Perhaps the
movement styled social uplift' is partly
responsible. That great social and eco
nomic changes are in process of evolution
is undeniable; but these tendencies do not
satisfactorily account for the intense
hatred and malice SO often shown toward
capital: there is nothing corresponding to
1t in any other part of the world. 1t is
rather shallow argument to impute this
attitude Of hostility to ignorance and I'M
scrupulous politicians when it would be
far more to the point to stop and ask:
Who gave the latter their opportunity
What was to be expected after the reck-
less trust mania which began twenty
years ago? What was the effect. psyche
logically, upon the public mind of the
corporate misdeeds which have disgraced
American finance for years? What has
been the effect of the idiotic displays OF
the idle rich upon popular imagination
And were the politicians any more un-
scrupulous in taking advantage of ar
aroused public opinion than the promoter:
and financiers who, through legal privi'
lege or defiance of law, created the
swollen fortunes? When those who
complain find time to ponder on sucf
questions they may better understano
what is behind the hostile attitude Oh
legislators toward corporations and what
hatred of capital.
Fortunately, there has been a radical
change in the attitude of corporations
during the past year or two, so thai
capital is now really on it's good be-
havior. Many corporations are at last
pursuing a policy of frankness and regard
for public interest which amounts to a
right-about-face, and which, If adopted
years ago. would have averted much OF
current evil This change augurs we'll fol
the future: it affords sound reason for
hopefuness; but repentance has come
late-very late. Much harm has already
been done: and the fruits Of that harm
have stimulated the appetite of discon'
tent and must impede business recovery
No doubt there are other reasons for eX-
listing business depression, but those jus,
referred to at least partly explain what:
the matter