The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-09-29

Hienoed TO congress, is that this au-
thority shall be provided by combi-
nation OF all the banks of the country
reserving to the smaller banks n
power OF selection greater than the
ratio between their capital and the
capital OF the larger banks. in which
board or agency the government shall
nave representative. not so that q
may control. but SO that 1t may have
voice in the management
Il do not so into the details except
to say that they must be carefuIly
worked out for the purpose of pre-
venting the political control of the
monetary situation. or control by the
large banks of Wall Street Such a
system is absolutely NECESSARY for tho
progress of business in this country.
we must have a system in which the
merchant have confidence that IL Will
be scientifically run, and with a view
only to the public interest
Il have thus reviewed four subjects
IN which the action of the government
has direct relation to business. and
nave discussed them with a view
10 the conclusion which / would now
like to state. The evils which the
Interstate commerce law and the anti
trust law were adopted to correct are
In the process of being remedied. They
were evils that required hostile legis-
lation to stamp them out, and need
constant vigilance in the future TO
prevent their recurrence The dim
Guilty is that the indignation caused
by the evils aroused a spirit OF on.
tagonis;n and bitterness which IL Is
now difcult to allay. and which man
TESTS itself in action of a hostile
character whenever occasion arises
The same thing may be said of tho
excessive tariff. The fact that bank
Ing and currency necessarily concerns
banks and those institutions that
gather together money attracts the
hostility OF men in politics. who thrive
by stirring up envy and hatred and
who live chiefly upon the denuncia-
ton OF the Industrious, the thrifty and
the successful in business
II have considered these points with
view to an appeal to the public in
behalf OF reasonable. moderate action
a treatment for the purpose of
encouraging the investment OF capital
and Of promoting prosperity. de-
precate vindictive feeling against rail.
way corporations. againr' the com
petlng parts of trusts after they have
complied with DEGREES of courts dis.
migrating them, against reasonable
treatment of the business dependent
on the tariff. or against the solution
OF the monetary question, which ap-
pcals TO all reasonable and experienced
men.
I'VE in this country are all in the
same boat. Speeches made in one par,
of the country TO arouse the people
OF that region against the enterprises
or business OF another are made bv
the blndest men. Let there be pros
tration OF business in nne large sec
ton and that prostration will spread
quickly to AL the rest
What makes men happy What
furnishes shoes and clothes and good.
wholesome food to the family Of
father and mother and hildren. hut
prosperous times. in which labor is
in high demand. wages are good. sales
are plenty. prices are normal ard
everybody is sharing in the genera
prosperity?
Too Much Sectional Prejudice.
I'm attempting to rid ourselves Of
the evils that were growing In bus
mess so as to put dangerous power
into the hands of concentrated wealth.
We had TO do many things that SAVIOR
ed of hostility to capital. at least to
the capital which was engaged in
those things that 1t was thought
denim. I am no defender of those
evils. On the contrary. / have been
as strongly in favor OF their suppress
sion by statutes made effective as any
one; but think we have arrived at
a time when the people themselves
ought to acquire sufficient perception
into the operation OF economic forces
to realize that a sectional prejudice
leading to legislation against the in
terests OF one part of the country will
as certainly rebound to the detriment
of another as night will follow day
We are in the same boat. We are all
tossed by the same waves. Why. then,
should we allow the political fortunes
OF any man or set OF men to mislead
ns into hostility toward parts of
the country which Is certain to work
Injury to all?
1T is not progressive policy in
any true sense to be hostile to pros