The Washington herald., 1911-02-04
VIEWS AND
INTERVIEWS
Canadian Ranking sy.tem.

Sir Edmund Walker, who is preSidene
of number of Canadian banks and
banks in South and Central America and
Europe, was seen at the Shoreham re-
Gently. He does not think much Of tho
idea Of a central bank for the United
States on the lines that have been dis
cUssed.
The ideal central bank for this coun-
try" said he. was the old United States
Bank. and most Of your Ills in the bank
ing business have been consequent upon
its abolishment- Such a central bank al
I have heard outlined is really nothing
but gigantic clearing house. 1t would
do business not with the public. but
with banks only. Most of it's business
would be done during times Of financial
stringency. and at other times it would
be practically idle.
The Bank of England and the Ban,l
of France are ideal institutions in their
way. but they do a vast private business
as well a government business, and
they handle a lot of transactions without
making money The Bank of France
will lend rs small a sum as SO Such q
central bank as is proposed is not a place
where one great concern might go upon
necessity and borrow a million dollars
That is what / think is needed here
The Canadian idea Of having branch
banks simplifies banking, as compared
with the numerous independent institu-
tions you have in this country. where
every one is for itself. You have mora
than 150O0 banks fighting each other in
way. each with different interests. In
Canada, when any financial problem is
TO he considered. we have less than thirty
bankers to get together
Il got my first banking experience in
Wall street six weeks before the panic
OF 1913 came on Banking has changed
in America enormously since that time,
but in no part Of the country have there
been such changes as in the South
Odd Theories Of Athletes.
Il have known lot of athletes who
were superstitious to an absurd degree"
said Herman G. Beehler. Of Philadelphia,
at the Riggs last night. Such, for in
stance. was one great high jumper who
used deliberately to practice before the
competition actually began by knocking
the bar of at all sorts if minor heights
He had an idea that by doing this be-
forehand he got it all out of his system,
so to speak, and he entered his competi-
ton with the assured feeling that he
wasn't going to slip up on any poor per-
formances
The blind reliance of the novice on
externals as the cause for good per-
formances by the crackerjacks occasion
ally had some odd sequence. There was
duarte--mile runner who was accus-
toned to holding his index and second
fingers pointed downward as he strobe
along. and Immediately after this was
observed by several new men at the
game. they all began holding their fin
gers in similar fashion as they ran.
There was another man. a distance
runner. who strained his left leg. and
as a result for a time favored it slightly
as he ran, until the strain passed away
There sprang I'D host of limpers, who
thought that was the way to attain
prominence in distance running
Then. again." concluded Mr.. Beehler,
"a British runner who came over here
about twelve years ago had a fashion
Of working his arms like a sprinter.
although he ran lonp istances. Almost
a great crowd of young athletes adopted
that method. They were surprised to
find that it didn't make them run as fast
as the Britisher.''
The Business Situation.
Roswell Miller. of New York. chair
man of the executive board of the Chi
cago, Milwaukee and Puget Sound Rail-
Gently:
There is general feeling of unrest
over the entire country. Bankers and
financial men are not buying railroad
stocks and securities, and there is
general curtailment of expenditures in
all lines. particularly with the railroads.
Some seem to think better times are
ahead" said he. but, personally. I can
not see much hope for the present. So
far as our lines are concerned. we have
stopped all construction work entirely
and will do nothing more until conditions
change for the better. We have laid Off
men wherever possible, and I think most
all of the railroads have done the same.
l attribute this unrest to legislation. We
have had too much legislation. Our law
makers seem to feel that they must make
new laws which make it harder for rail-
roads to do business. and so long as they
feel that way 1 cannot see any chance
for Improvement. 1t costs far more to
operate railroads now than it formerly
did. Material has advanced greatly in
price in all lines. and the cost of labor
has increased accordingly. with practi-
caIiy no larger freight rates. The rail-
roads cannot pay dividends and keep up
the improvements on present rates. An
other uncertainty is the long delays We
are subjected to in getting rate decisions.
These delays are costly and must be met
Capitalization has absolutely nothing to
do with freight rates. Rates are not
made with that end in view, but are grad
uated according to the. traffic. Railroads
never have and never will stand in the
way of moving freight. i do not look for
much change for some time"
Lord french.
Lord french. of England" is at tho
Shor cham. That tells the whole tale.
and he spells his name with two small
rs" which is the old English for a
capital initial e. Be that as It may
that's all.
The Kaiser's PrOtege.