The Detroit times., 1911-12-08
ION c. SHH ATTACKS THE
'lLDRICH PLAN MONEY 'TOO
AuID1 NOV. He DECLARES
Would Limit State and National
Banks and Trust Companies
To Discount Business.
TALKS TO BUSINESS MEN.
New York Publisher Outlines
Plan of Protecting Funds BE
yond Reach of Cunning"

..| 80 "
About a thousand members OF the
Board OF commerce attended the buf
lei luncheon In the Pontchartrain no
tel, Thursday noon, to hear Don =
seIfz. publisher OF the New YORK
world. talk on Better business.
president Milton A. McRae intro
dnced Mr.. Seitz as one of the lead
Ing fgures In American Journalism
1Ir. seitz said:
when was a boy in Maine a neigh
kor found his well failing and was az :
VIsed 20 deepen IL I'm order 10 insure
better water supply; Selhs an ,i ihs
Iot or dirt around the top. Ii seems TO
me from the altitude OF profession
10 which business Is mainly lncldehtaI
that this Is the trouble TO-DAY III S
dIrtracted land Privately j do not De
llrvo business Is bad, but some OF It's
mefhods are, and IL Is with these pro
-1.oee 10 deal The base OF ali Neaatn
comes from the soil or the sea; me
frInlmInes are put on afterwards ~
- the trimmings with which we nave
~ deal The primitive man VINO hau
1xh = nd wanted grain took IL TO q man
who had grain and wanted nsh' Sei.n s-
az got any change back nor ala any
Increment accrue The modern trans
erfisn has become complicated by the
Intervention OF the man who taxes tne
ash and the grain and redlstriputes 20
osople who have neither. and by serv,
me convenience adds 10 the cost ana
makes his own profit. The nsh ana tue
rain remain where they always were,
n the bottom OF all business SO greauy
have we amplified convenience that ~
has become the chief element In the
rorf OF Twins. -. II IL cost more than IL
Is worth Il could not survive h Is
fair 70 assume. therefore' that mooeI I
improvements are worth having. anu
fherefore. worth paying Cor,
interest in the conservation or ma
furai resources II growing; LUMBER
men now out closer TO the groun9'
they leave Immature trees TO expand:
II hone we shall see no more sweeps
a. desolatfon like those found on the
great Michigan peninsula The run
utslization and preservation or water.
oowefs II coming to pass. why not
<Sfend this thought to the conserva-
flon of money! For, after all money
il the most efficient Industrial agent
we have. IL Is 100 per cent effective.
fh ms e him From Il 10 81 per cent
a. the power transmitted by belts and
ehafting Is lost in friction The hu-
man machine is worse. unless IL nap.
,.,an,ffacturers add SO per cent for la
Dor. so uncertain Is the outcome of
manual effort But the dollar gives
AMI represents value received. II also
has TO stand Its ground ss iahet ihp Ws
often give dollars for i've cents worth
OF collateral and Is cents worth OF Ia
Dor II IS the twin sins or capttalizing
PROFITS real or ;n ana hours tns a aHd
output that pile the burden on the
"publlc at large" You can buy the
use OF a dollar more cheaply than any.
other utility. from three to six cents
Get-Rieh-Quick bug.
For nearly a century we In America
have been pestered by the get-rich-
quick bug. which has done more harm,
brought more ruin than all inc cs,amI-
John Laws mississippi Bubble" which
bred the French revolution by destroy
ing the thrift of France, has been re-
peated often In the United States. but.
fortunately. our natural resources have
been strong enough to resist the as
saults where the common sense OF the
people failed TO head them OF. We
wore able to crush greenback infia-
ton, through the courage OF President
Grant I'm vetoing the bill passed by
conGress to issue a mood OF paper: we
beat down the several crazes OF popu-
and we crushed free silver at the polls
Bat I'VE left wild banking work its
will for years and have not wholly quit
4. yet. while the Imitation OF corporate
stock IN so gigantic and bewildering
as 20 still confuse and nnsettle our az
fairs Now, in what way could unlim-
tied greenbacks or unlimited silver do
more harm than unlimited treeng God 5
grounds out by the American Bank
Note Co. and fed out to foolish public
through the several stock exchanges.
Is not the peril Just as great from pri-
vate a. from public infla don? You had
the very able Perkins here not long
ago pleading for the government regu-
lutfon OF corporations and prices
why7 Because built upon the privi-
1eges bestowed by the tariff and perceiv-
Ing that these are about to fall, they
hope to have their vast capitalization
OF earning power-not assets-by re-
fLcarnating privilege In another form