Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-06-15
Continued From Page I.

more or less doubtful tenure.
"They call attention in the
East to the fact that the Demo-
Gratis came into power more
through Republican disruption,
perhaps. than through their own
undoubted virtues. ! do not sub
scribe to that altogether, and
am not particularly interested in
1t. I believe this country is going
to progress right along its road
of prosperity, regardless largely
Of whether a Democrat or a Re
publican is in the White House
in Washington. However, these
things do sometimes cause a
feeling of hesitation among finan-
ciers, whether they ought to or
not.
"The agitation of the tariff
causes certain big industries to
mark time so. to speak, while
the problem is being adjusted.
Naturally, this Is so-how could
II be otherwise9 But there is in
this no reason for alarm or anx-
iety.
Next to agriculture, the South
is concerned more perhaps with
the real estate question. Ger
tainly that is a thing Of para
mount Importance to us.
Real Estate Market Staanant.
Just now the real estate mar
ket is more or less stagnant.
There is not so much trading as
there was this time last year.
Still, can you get anybody TO sell
YOU property to-day any cheap
err than he would have sold II to
you last year?
You certainly could not get any
of my real estate at a less figure
than you might have had II for
last year-indeed, you could not
get IL without payinb me an ad-
vance.
why is it, people ask me, that
real estate values either hold up
or 80 forward, regardless of the
fact that few people are trading
in It?
of hestitancy in the real estate
world that there is in the world
of finance-it is an intangible,
more or less elusive thing to get
hold of mentally-and II can not
be accounted for very well by
facts.
Let me tell you one thing, and
II is the one big. significant thing,
too-there is abundant confidence
i'm the hearts and minds OF the
people and the banks.
And, after all, confidence is the
thing that holds together the en-
tire financial fabric.
Confidence Is Unimpsired.
mo matter how high the rate
Of interest may be or how tight
money may get, you can not dis
turb conditions seriously so long
as confidence remains unim-
paired. on the other hand, no
matter how easy money may be,
or how low the rate Of interest,
financial distress can not be
warded off If confidence is upset.
There are two classes Of peo-
pie in this world that interest.
There are those people who are
forever wanting to reform things,
and there are those people so
sadly in need of reforming. If
genuine reformers and those gem
timely needing reform could be
gotten together It would be
mighty fine thing-but too often
they never do get together, really.
Il do not think I should enjoy
too many privileges with respect
to you. do not think that be-
cause ! happened TO lose a $40
note this morning that l should
have the right to search the pock-
cts Of every visitor who comes In,
to find out II he has II.
81 do not think my lack OF con-
ndence should be INDUCED to that
extent.
Il believe that optimism begets
optimism. / believe just as firmly
that passimism begets pessimism.
We can talk hard times and
danger ahead, until we really
bring ourselves into the zone of
danger-but how absurd TO cut
our own threats after that fash
ion!
No Thunder From South.
Some hnanciers in the East
have heard. or imagined they
heard, the mutterings OF distant
thunder. II they have thought
they heard Il in the direction Of
e the South, they are mistaken.
Il went into a big bank in the
East not long ago, and / asked
the president how he was getting
along. All right. said he.
Things look promising
Il found. however. that he was
not lettirR ont his money quite
= as generously as he did last year.
and I asked him why. He said he
simply thought Il safer 10 hold
things downfall was all.
u tried to get him to fix upon
something definite that looked
dangerous. He couldn't do 1t. He
was vague and more or less IN
definite He simply was hesitat-
ing. He was not alarmed, not
even anxiOus-but he was, for
some reason or other. just hest
tating to let himself loose.
He talked about the tariff
agitation. and the political condi-
tions-but 7 really believe there
was nothing in his mind that ac-
tuallv distressed him.
"One reason why money is be-
ing held back N the East, 10
certain extent now. cntailing upon
the country a slightly higher rate
Of interest than usual. is that the
great West is going TO produce
the biggest crop OF grain this
wear that the world has ever
known-and Il Is going TO require
an enormous amount Of money 20
move IL. The East knows IL will
be called upon to furnish this