Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-10-24
Mudstinging Has Shaken Con.
fidence Of Capital, Judge
Gary Declares.
DEMAGOGY Is BLAMED
FOR PRESENT SITUATION
Says 0Mceholders and Seekers
Create Dissatisfaction for
Selfish Ends.

CHICAGO, October A.-Judge Elbert II.
Gary. chairman Of the United States
Steel Corporation. in an address today at
| the semi-annual meeting of the American
Iron and Steel Institute declared that the
| stability Of business has been interfered
with and the confidence OF capital shaken
by unreasonable and uncalled for agita-
ton and attack In spite Of the coun-
try's wealth and resources, foreign cap
italists wonder why we are not more con
tinuously prosperous he said.
There are exceptional cases." declared
Judge Gary, 'in which encouragement
has caused distrust or dissatisfaction on
the part OF foreign and domestic capital
lists: but this Is not the principal reason
for hesitancy at the present time on the
part of these capitalists in making in
vestments In our securities. They Won
der why 1t Is that with our great and
growing wealth and resources and our
superior advantages we are not more
continuously prosperous; why we are not
more stable in prices and values and in
general conditions: why there is ever any
disposition the part of any one TO
interfere with the normal and natural
progress In the development OF our conil-
try and its Industries. Every one who
travels extensively abroad is confronted
with these inquiries by foreigners friend
~ to and interested In our commercial
and financial conditions and success: and
we assembled in this room arc asking
ourselves the same question.
Too Much Mud Singing.
81 venture the assertion that 1t is
largely because Of much unnecessary
agitation and ill-considered criticism
he "a
best interests at heart. There Is too
much demagogy, too much mudsling-
ing. The man out Of Office criticises
the one In Office. and the one In office
In turn seeks to advance his own in
terests regardless Of the effect upon
all others. In many public speeches
and in magazine articles the author
Is Influenced by motives of selfishness
or cupidity. Appeals are made for the
purpose Of creating q feeling Of dis
satisfaction and unrest when this Is
unnecessary and unjustified. Fortu-
nately this Is partially Offset by the
conservative attitude Of some of the
leading journals; and the number is
increasing.
1T is not uncommon in public dis
cussion to treat success as an offense:
to consider the possession OF wealth.
however honestly acquired, as wrong
Legislation calculated to create classes
Is urged persistently: also laws to
burdens: to forcibly take from one
something which he has and is en-
titled to have and turn 1t over to an
other; to prevent or to lessen the sue
cess or legitimate enterprise and en-
deavor.
Capital Seriously Affected.
Capital. always tinid, has been Sc
riously affected by this unreasonable and
uncailed-for agitation and attack Indeed,
1t Is becoming frightened. Confidence has
been shaken. It Is becoming almost i'm
possible to secure. on fair terms, on good
security and at a reasonable rate Of in
terest. the necessary capital to equip or
literally maintain going and successful
properties. to say nothing Of the addi-
tons and extensions which the interests
OF this great and growing country de-
mand
THE stability Of business. which is es-
sential to Its proper and reasonable
growth and success. has been interfered
with. Our great and growing popua-
ton can use our products: 1t needs food
and clothes and material to build. and 1t
Is willing and anxious to buy Them Il
Is In need Of railroads and ships with
the best equipment to carry these prod
ucts from one point to another. and 1t is
willing to pay fair rates for the service.
Want Certain Protection.
'Laborers are willing to work at a rea-
sonable wage. and employers are anxious
to furnish work and to pay liberal COM
pensation. The carrying companies are
DESTROYS Of providing necessary facilities
for adequate transportation. Producers
In all departments OF industry wish to
satisfy the demands for their products at
fair prices. and to that end they would
make the necessary increases In capacity