The sun. [volume] (New York [N.Y.]) 1833-1916, 1911-09-29


ii Fifty-One Wal, Stree,
sufflcient for the purpose OF business con-
stantly Kept on hand. The present prop
osttion OF the Monetary Commission. which
believe will be recommended TO Congress
Ia that this authority shall be provided
by combination of all the banks of the
country. reserving to the smaller banks
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 have n representa-
tive. not 40 that II may control but so that
II may have a voice in the management.
AN UNCONTROLLED SYSTEM.
| do not 20 into the details except TO
say that they must be carefully worked out
Tor the purpose of preventing the political
control Of the monetary situation or control
by the largo banks Of Wall Street. Such
system Ia absolutely necessary for the
progress Of business in this country. We
must have system in which the merchants
have confidence that IL will be scientifically
run and with a view only to the public
interest
| have thus reviewed four subjects in
which the action OF the Government has a
direct relation to business and | have dis
cussed them with a view to the conclusion
which would now like to state. The evils
which the interstate commerce law and
the antitrust law were adopted to correct
are In the process OF being remedied' They
were evils that required hostile legislation
to stamp them out and need constant vigi-
lance In the future to prevent their re-
currence. The difficulty is that the indigna-
tion caused by the evils aroused a spirit
OF antagonism and bitterness which 1t Is
now difficult to allay and which manifests
itself In action of hostile character when
ever occasion arises. The same thing may
be said OF the excessive tariff The fact
that banking and currency necessarily
concerns banks and those institutions that
gather together money attracts the hos
tility OF men in politics. who thrive by STIR
ring UP envy and hatred and who live chiefly
upon the denunciaton OF the industrious,
the thrifty and the sucC essful In business
! have considered these points with view
TO an appeal to the public In behalf Of
reasonable. moderate action and treatment
for the purpose OF encouraging the invest
ment OF capital and Of promoting prosperity
| deprecate vindicttve feeling against rail-
way corporations, against the competing
parts OF trusts after they have complied
with DEGREES OF courts isntegrating them
against reasonable treatment of the busi-
nesses dependent on the tariff. or against
the solution of the monetary question. which
appeals to all reasonable and experienced
men
ALL IN ONE BOAT.
we IN this country are all IN the same boat.
Speeches mace IN one part OF tne country
10 arouse the people OF that region against
'he ehterprises or business OF another are
mace oy the piihoest men Iet there be
OF business III one large section
ana 'hat prostra'ioh VIII spread quickly
10 an 'he res'
n ,"pP'' ma '"i
,o tho fam,Iv of father and mo, bor and cb;I-
drep hut nrosnerous ,imss IN which labor
ia in biy demand wayes aro good sa,.. AZ.
n,en,v nricos are normaI and eye,yhodr IA
.ha,;no In tho oenera, nrosreri,r,
I, a,t.mntino 20 lid oursaives n, thu ovi,.
chat wcra vrowing in brs;rass co ne 20 M,
dono.rous nower into tho h.nds NJ ooncanl
,r.,ed wealth us bad IN do n,nr ,htnn.
tho, s,yored or hos,ili,r 20 c.ni,oI n, ,,as,
90 Tho c,ni,a, uh;ch una ar,a,od 4, ,hos.
,hinrs do, 4, was ,houcht naoos..r, 90
GO, s,o,ut.a 90 cordomn or, -, 4.
fondor of ,hose evils On tho cnn,,a,,.
t,,,,. 80, as s,ror,,, ir &C. -, ,ha;. -
,,-.ss;o, h,, s,,,u,a. r,aa, .r.,,;,,a a.
80, .,,, ,h,nL no haw. ...;,..a -.
- a.. nanni. ,,au..,,.s -, .
80 smmoi.n, ,o,oon,ior in,o ~ go, w
-. ,..a,,,i, tnrn,s %, raoi;.n ~, .I,'an,
,aod,nr %, ,nr;s,n';a
y, =, y, 81. sais' it,,
.ne u,ain,r do"na ~ d ~, VI ~ ane oun.ls WI,
IL, lii ,,u a., W
ah..ne' 90 'o' ."s ". arc
!" VIC s"m. W. W., "' ,,S 'osseu oS 'ne
s"e 49,, 'n", s"ouIu we a.o~
va. sa,I -" -, ""s .,.". oi &c, y,
NC. ~ .o~".o
,' p", ,,; ' ., om, "' ''' '"'A "
WI ''''''
NOT rh o"REssi'E POLICY
II is not progressive policy in any true
sense to be hostile 10 prosperity Of any part
of the country. II is not progressive TO he
against railway corporation because il is
a railway corporation, II is progressive to
take measures by statutes which shall
regulate railways and prevent their re-
curing to evils OF which they have been
guilty in the past but assuming them to be
engaged IN lawful business II il OF the
highest interest 'hat we should secure to
10 SOnnble O.