Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-03-28
MARSHALL STIRS
F|NANCIERS' IRE
Vice Presidents Attack on Bus
mess Scare Brings Demand
for Policy.
~ g. c. FORBES.

led Il. This business scare has got 70
,.,o and stop soon. This country won't
4 stand FOR t.
Thus smoke the vice president Of the Uni
..- states In Boston. The $4,000, 900 was
latina TO be invested" a financier had
aid him In Washington.
ryynst are you waiting for?" he had
asked.
anna 10 do" was the reply.
men followed the TRADE quoted in the
,5srfoq paragraph.
Well now, was il an awful crime to
,,,.ess that money was not TO be in
yss,sd until the new governments course
.,,rd be discerned2 Suppose you owned
,,o90OOO: would you not act cautiously?
p.omd YOU not be inclined to wait and
s.s whether the investments you con-
.snn.ated buying were to be affected by
radical Nsasation?
n YOU had seen-as this fnanCier and
his colleagues have seen TO their sor-
roo-the very best investments sink low
Or and lower without sign of permanent
rs-1very and had been given to under
stand that deep cuts would be made in
tariffs mat railroads would be subjected
.ssssrfaIIy by states) to further burden
sere and costly harassments, that revo-
utcrary banking legislation would be
forced through congress, and that both
f-rs.7n and home demands for capital in
money market already taut as a drum
would you, under such circumstances,
Zee. you deserved abuse if you confessed
y,. preferred to hold on TO your cash
Until conditions became a little less IN
settled,
aTh.s countrys prosperity is on too
solid basis to be easily scared" was an
ether Of Mr.. Marshalrs pointed declara-
tons Let us hope so. But I can tell
INN that a GOOD many men Of business
APE scared. Why? Read these various
statements from men neck deep in finance
and business:
A banker:
"Money-Iquld moneys scarcer to-
day than Il has been at this season in
twenty years. Europe IS even worse
than we are. The demands for funds
from governments alone will be enorm
Gus Here we have TO face huge Dor
rowInq for local subways, constantly
Increasing state and municipal applIca-
tons a big Pennsylvania issue, an
other from New York Central, probable
financing by the Hartman roads and a
host Of other corporations. If Wash
09ton proposes anything as crazy as
the guarantee Of national bank depos
rs then may heaven help US"
fnacer interested in railroads:
The railroads are being hit on both
cheeks. Directors no longer run a
raIroad-the interstate commerce COM
mssfon issues ueremptory orders from
above and labor makes equally peremp-
tory demands from below, with an ac-
c0mpanying threat Of strike.
Now Il looks as If railroad can not
call its terminals it's own. Apparently
any governmental body can order Il to
open IS doors to every competitor that
may come along. The araVest railroad
problem is to be terminal facilities, and
road IS to be deprived Of the fruit
Of It's enterprise in spending millions
for such facilities, what Will be the final
outcome?
Who viii pull chestnuts out of the
fire If anybody is free to eat them? We
are in danger Of reaching a deadlock
In raIlroading in this country
An economist of note:
The extravaganza Of our federal. our
'N'NS aNu OUT nuniClpal governments -
appalling. The increase in taxation
during the last ten years passes reali-
cation unless you anayze the figures.
So much capital is being Withdrawn
from business channels that an over
stralnrng Of credit is threatened.
stock exchange member:
Our business has already been nearly
ruined. and now Albany proposes TO
lay it In coffin.
Ho" goes it abroad? There is scare
mere. too--a worse one than has come TO
me surface here. The conservative Lon
07o economist, Just TO hand, says:
The Iong-continued activity i'm trade
".a The outbreak of war i'm Europe have
combined to cause a Jighness in the
money market and the gIt-edged stock
markets. which is without parallel since
.N. During the past few weeks We
have had in England one reminder aft
'T another that the task of placing
good low interest bearing securities is
Extraordinarily difficult
IN Austria Hungary almost fabulous
ounrro5atfor ana ,,ar,,,,,, ,,,varDr,ert
nr.ar.,;,,z - 49,, 10,
''l'S III me lodl MAJ me- il" We -"
'Ai suely Disappointing In the DAY