Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-07-31
F ACT AND GOSSIP
Of MONEY MARTS
Trade and Crops Good, Yet
There Is Some Complaint of
Poor Profit.
BY 3. c. FORBES.

Here we have the railroads RUSHING into
the market for thousands If new cars
and hundreds of engines, prices of steel
soaring on urgent demands for PROMPT de-
liveries, general trade (as measured nv
bank clearings and railroad traffic. Of
large volume, foreign commerce breaking
all records, the grain prospects improving
daily, an absence of excitement over poli
tics, a stock market that more than holds
its own. and no present stringencv in the
money market-yet much satisfaction
with conditions, much complaining of
poor profits and of high costs and constant
demands that Something be done" are tho
order of the day.
What is the matter?
one economist will tell you that the in
crease in the production of gold is at the
bottom of all our woes Another holds the
trusts entirely responsible "Tbe tariff >"
says a third. The lack of foodstuffs ou
ing to the unpopularity of farming s
blamed by fourth 1.-The trade unions
which restrict output" is the pet scane
goat OF fifth. while political turmoil the
Interstate commerce commission. national
and individual extravaganza the mania
for pleasures of the expensive sort wall
Street" godlessness, all are trotted ont as
contributory to or wholly responsible for
the present satisfactory state of affairs
Each Has Bearing.
Now the plethora of gold, the growth
Of trusts, the tariff, the comparative
scarcity of farm products. the shortsighted
policies of certain labor organizations. ex-
travagnce, inordinate pleasure seeking
and the other causes cited do. each and
every one, have some bearing upon the
current high cost of living and its off
spring, discomfort
Only very young an extremely foolish
or superhumanly wise person would un-
dertake to PROFOUND sovereign prac-
tlcal-~remedies for every i'll the human
race is heir to. But suggestions can be
made on two or three points
Seven Possible Remedies
/. The tariff must be reduced--really
reduced, not simply fooled with
2. Industrial trusts must be brought I'M
der control-but not along the asinine
lines prescribed by the head of the Stan
ley investigating committee.
3. Farming should--and will be encour-
aged by the establishment of land
banks, which will extend credit facilities
on equitable terms, while the Inaugural
ton of equitable express rates and an eff
icient parcels post will also help.
4. Labor unions should reconsider their
rules governing the limitation of output
for man ought to put into the world as
much as he expects to get out of it,
s. The railroads should be given a
square deal in the matter of freight rates
else grave troubles will break out by and
by
6. The increase in gold production can
not be arbitrarily stopped, but the present
signs are that there will be no abnormal
expansion in the near future, the Trans
vaal fields the principal source Of supply,
having apparently approached their maxi
mum capacity.
I. Goldlessness, extravaganza, pleasure
seeking etc, are matters for the indvid-
uaLto remedy. That there is room for re-
form in these directions no one will deny.
The Acme Of Stupidity.
The Stanley reports recommends tions
that control of more than 30 per cent of
any industry be held illegal is the acme
of stupidity. Truly our politicians are apt
to be drowned when they venture upon
the deep sea of economics.
There is no Inherent virtue in doing
only small business often it augurs
lack of application, of industry. of thrift,
of foresight, of ability.
Neither is it necessarily wicked to do a
big business
Rule of thumb methods can OF be sue
cessfully applied To so extraordinarily
complicated problems as those involved in
the modern machinery for carrying on
trade and industry on a national and in
ternational scale Commonsense must be
exercised
The abolition of great industrial organ
izations is not even desirable were it legis-
latiVely possible, for in the herculean tight
for the worlds markets the puny con-
Germ can not stand up against the gigantic
ones, which have been built up in Britain,
in Germany and elsewhere.
But industrial corporations can, should
and will be controlled by the people, act
ing through their government. The rail
roads have been brought under effective
regulation; let similar treatment be eX-
tended to industrial combinations.
Wall Street Still Waiting.
Wall Street is still waiting We are
still between seasons Most inanciers are
on holiday
Wall Street Still Waiting
Wall Street is still waiting. We are stlIi
between seasons. Most financiers are on
holiday
Two of the most notable who have re-
turned to New York. J. p Morgan and
ion on the country's prospects Coa&ed
by a young reporter to grant him an IN
terview because it might mean an IN
crease in salary for me" Mr.. Morgan re-
piled that he would rather pay the dlHer-
ence than talk! Mr., Hill remarked that
he had quit guessing.
Guessing is about all that can be m
dulged in at this stage The grain crops
are progressing gratifyingly fact OF me
first Importance Cotton, however IS SUI
fering from excessive heat in certain pIF-
otal states, and quotations for the staple
have been climbing to new high Levers LOT
the year. Railroad receipts are at the
maximum, but expenses are unheall my
heavy. so that profits are not altose lhel
satisfactory. Then the interstate con-
mission continues to order isolated reuuc-
tons every week, and the demands ol en-.
poyees for higher wages nave NOT le'
been disposed of by the iniiuentlal Gun
mittee OF arbitration.
Political Declarations AWalteo'
Speeches OF acceptance VIII ne IellN al ~
early next month by presidential cahul
dates, and these are awaited WIN uil l ,I,
interest Especially is the hnanclal T13!n
munity anxious to learn woodrow w.
sons attitude toward economic quesllu"'
such as the tariff. trusts and cufIehO
American bankers are BORROWING ilot i'I