Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-05-19

OY
what even most violent opponents
recognize as square dealing methods
Wall street isn't nominating Mr.
Wlckersham. would hundredfold prefer
any or the other compromises suggest
ed; but it is realized that all that Mr..
Roosevelt contends for Mr.. Wickersham
represents. and that, moreover, as a
member OF Mr.. Taft's cabinet. the At
torney Generals selection could be
hailed as Taft administration indorse-
ment.
Beyond theorizing and calculation like
TINS. the real men OF Wall street per-
interest They insist that the issues
$50 far as values are concerned) are
represented by what is doing in bust
ness, what is the prospect in agricuI-
ture.
Financial Record Improves.
The commercial and financial record i'm
proves. 1t may be set down as undoubt-
able that betterment is recorded In a very
large majority Of enterprises. more par
ticularly those that are local. Trade
agency reports have ceased to be dis
agreeable reading: progress Of a most SUBJ
stantlal sort has been made; the outlook
Is for further expansion and larger profit
so run the written reports.
And as to agriculture. 80 per cent of the
announcements that follow investigation
Is severe shrinkage in planted acreage:
in some other districts deterioration is gen
eraI FORMALLY arranged, such an exhibit
would disclose material setback. Yet re-
planting is available In so many instances,
With recovery Of lost early territory that
only chronic pessimists will be much bowed
down by this feature of the current crop
situation. In very large proportion i'm
portant gains are assured through i'm
proved farming processes; the element of
crop divers.fication will this year prove
more consequential than ever hitherto ac-
complished. All the crops of 1912 are
counted upon by veteran observers to be
surely satisfactory. Corn, the great trans
portation provider. will this year prob
ably run far beyond any volume ever
hitherto known.
1t Is of consequence especially that the
financial world is not only able but dis
posed this year to supplement the agree
able conditions of agriculture generously.
1t is notable that in most of the impor-
tant agriculture states of the west bank
ing organizations are not only system
atically but aggressively undertaking to
promote farming interests. This campaign
is not confined to talk Large sums of
money are being spent-wherewith to make
it possible that the farmer shall be at
ease financially, that he shall have the
opportunity to advantage by scientific
counsel. that he shall have the advice and
practical cooperation of experts. that
larger yields per acre shall be made fea-
sible. We have had in times past much
speechmaking as to what a cooperating
policy like this would mean, but until now
nothing concrete-actual-has been real
lied. Some notion Of what may be in
this particular accomplished is set forth
in an official report made by one bank
in Illinois which declares that an in
crease of from 30 to 80 per cent in yield
per acre will be assured.
This development, far from being any
mere idealistic proceeding, has business
,ctn for 70
The prosperous farmer means prosperity
for business generally.
Bankers Should Give Support.
That the bankers of the country should
on their own initiative enter upon this
undertaking is significant doubly. In the
first place it attests their selfishness-
indicates what their intelligence has dis
closed, what they can from their own
standpoint as bankers realize in having
to deal with prosperous rather than
doubtful customers In the further re-
gard the movement still more indicates
what is inspiriting. 1t has been the
theory, in laxative quarters. almost uni
versally that banking motives could have
thought for nothingY but what Is sordid.
REGARDLESS of what in old times might
have been marshaled as evidence. the
new facts-revealed by this current de-
yelopment-are that today the hnanciers
of the country are keenly alive not only
to the necessity but to the advantage OF
upbuilding In every quarter. In the days
Of western farm mortgages, when almost
every investment was mere gamble,
there were banking necessities which
(measured by present standards) could
have no other appearance than what was
avaricious and strangling. That was
time when men bought lands not to use
them, not to improve them. not for any
other purpose than to unload them upon
,S4tt thA rrssx,
ture Of the west this feature has fortu
nately disappeared. Today the western
farmer is business man; he undertakes
his tasks with the conservatism of the
eastern MANUFACTURER. And the banking
world Is marking its realization and &C
ceptance of this new condition by offer
ing q cooperation whose intention may
be selfish. but for the agriculturist inten-
sively liberal. The farmer at last Is
getting his chance.
Position of Borrower Changed.
Aforetime any borrower-more espe-
c!ally the agriculturist or the mercantile
borrower-approached his bank in fear
and trembling. while now he is welcome.
Under the old regime the borrower was
ever an apologist. Now he is the ofrerer
of assets better than the loan Is. 1t is
phenomenal change that has come into
the banking world. This very week we
have extraordinary liiustratlon OF the
changes that are coming to passive
great trust companies combining, two i'm
portant national banks consolidating. In
this latter instance the Irving National
Exchange joins with the Mercantile Ma
tional in q concentration which assures
larger position In the financial world.
Mr. Heinze was for time the con-
troller Of the Mercantile: his regime
was marked by explosions. That in
sequel to that the Mercantile should
find itself able to merge upon equal
ity with a great bank like the Irving
Exchange National may be regarded
as almost miracle-its capacity and
its strength due TO the personality Of
it's chief managers. Emil Klein and
Willis Nash. OF course, there is to
be taken into consideration the fact