White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1911-10-22
FOR ALL
BUSINESS ILLS
CEASE PLAYING POLITICS l.
ADVICE or NOTED FINANCIERs
FOR RELIEF PROM DOMESTIC
DISTURBANCES.

A cure for the business lis and
period Of financial unrest thai pre-
walls throughout the country for the
last year has been advanced ~ VIII
liam Guggenheim and John Ha.s
Hammond. both OF whom have sue
oeeded in various lines OF commercial
activities. Guggenhim suggests as a
possible remedy that the people stop
playing politics. Federal sapercis-
ion o. big business enterprises is
another theory advanced b The
prominent h~nznciers in bringing
about a period Of adjustment The
interviews appear below:
by William Guggenheim)
Lei Al parties stop playing poll
tics and tell the people the truth II
is generally admitted that we are in
the throes Of a great economic dis
~surbanee. not only in the United
States. but throughout the world.
Our zay out Of the difficulties : easy
10 find II our leaders. who are now
fighting for political advantages. will
endeaFor 10 serve the best interests
Of our country. the disturbance will
pass without unpleasant results.
Political strife. however. viii bring
serious consequences
To understand the conditions now
confronting Us. " must revert 10 the
policies Of the Republican party
which mas dominated the nation FOR
the last forty years. The party fos-
tered protection. and al the same
time. until recently. failed 70 enforce
the Sherman Antitrust Law. The
people are aow well aware that there
in lies the secret of our dinulties. but
do they likewise know that therein
are contained still greater ones or a
happy way out of them.
Legislation Not Important.
II righteousness and honesty have
not been found universally among
those higher up. the morals of the
people generally have often left
much TO be desired. In accepting
the part that legislation has played
in bri1 zinz ab1p+ - .-ro~- AZ.
turbance. we must not imagine that il
is an important cause. On the con-
trary. il is by far the lightest one.
In fact, if we had anything like a
satisfactory return from the tremen.
dous crop area that was sown last
winter and the spring. 1 doubt II past
legislative mistakes would have re.
eeived serious consideration.
The two great factors working
against economic equilibrium are.
First Mans preference for in
dustrial as against farm work
Second. His wonderful ingenuity
in facilitating production easily caus.
es oyer production and a consequent
strain on capital. Add to the above
a third factor. the artificial stimula.
ton of industrial enterprise by toe
high a tariff
Remedies Which Are Possible.
In seeking the remedy in the tariff
and trusts. We are confronted with
good or evil. There are four propo-
sitions from which we may choose.
First. A very high tariff and {
strict Interpretation of the Sherman
antitrust law, breaking up all form,
of combinations.
Second. A lower tariff and a lib
eral Interpretation of the Sherman
antitrust Law. but supervising tn,
combinations carefully to proven.
unfair prices TO the
Third. A tariff for ant
repeal of the Sherman antitrust law
large enterprise and combinations be
ing permitted.
Fourth. A lower tariff and
strict Interpretation of the Sherman
antitrust law, breaking up all form!
Of com binations.
The first proposition is not accept
able, as ii means commercial isola
ton, and the whole idea is antiquat
ed. The second is the middle eours,
and with business men in the admin
istration would, ! believe, work ou
most satisfactory. The third propo
sition would eventually prove equal
ly satisfactory. but some business