Albuquerque morning journal., 1913-12-27

Is an wrong. We VIII show YOU how
this thing should tc done You are
uns ienurie. and anyhow We have
serious doubts uhout your honesty
1t IS nos urprisiug Chat the oli
hands In the business stare ne tw
government I'm q puzzled way ani
wonder Do all their education, eXpc-
rlen,e and hard work have count ,
for uaught
Ne ortArlces, the toutcr ium rc-
ferrel to Expresses The. opinion thN
The new system Will eventually place
American affairs in better positiou,
4 is only the Intermediate period that
he is afraid Of
And. by the way this banker is a
pretty good specimen Of the peultent
sinner. He says.
Il reckon we have all gone wrong
Maybe we have been money mad. We
have built and inflated and watered
tin we do not know whore actual
value Is. 1t was probably time 10
call a halt. That the railroads and
the Industrial companies have in
CURED the hostility OF the public and
the vengeance of the government Is
largely their own fault. The STAN
dard oil company, the Tobacco COM
pany and the rest Of them We're go
ing too far in supreme disregard Of
the rights and convenience of others.
They were forgetful Of the principle
that a man does not live for himself
alone, but for everybody else that
lives
I'VE can claim for the banks that
their stock is not inflated There is
dollar for dollar in their capitaliza-
ton. But the banks have co-operated
with the other corporations, and
confess that l am one with the rest
of the sinners.
1T Is a humiliation TO be called to
account by a lot OF half-bakod con-
gressmen. but | guess It Will do us
good. have always taken the
ground that the functions OF the gov
crnment should be restricted pretty
closely to police powers, ana that 1t
should not meddle with business, bat
meddle it does and we must take the
consequences. We must now descend
from our lofty perch, but ] am afraid
some Of us win tumble off the lad
der"
The man making these statements
is not a pcssimist He is long way
from 1t. He has been distinguished
by the confidence with which he has
entered into a large number Of enter
Urises in the last few years which in
the main have been successful and
which It is believed will suffer no
serious consequences from the cx-
traordlnary changes which are about
tc occur in the financial affairs Of
the United states. His utterances
may be taken largely as an expression
of the opinions Of the most enlight
oned bankers m this city.
II is a matter Of astonshment even
after the long period Of discussion on
these subjects, that the party In
power should have the hardihood to
undertake two such gigantic expert
ments as great reduction IN the
customs duties and the enactment OF
a UdHklllb anu hAi itlitN law % N'Ail
pletely at variance with the system
now in operation. The inexperienced
are doing radically, and in danger-
Gus way. what the republican party
in IFS slumberous sense of security,
failed year after year to do IN aI
moderate and truly economic way
There Is warm not 60 say acri-
monous discussion in this city amone
people who think they know some
thing about business affairs as to the
outlook for the next few months
Actually many people believe that the
new currency law is going 70 men
us right away Others see great
boon in having a larger percentage
Of our manufactured products pro
luced in Europe than ever before.
IT will be interesting to see whether
nature has SO changed itself that
causes will not hereafter produce the
same effects as IN the past or If youI
please, whether the closest students
IF affairs have beon mistaken all the
way along The banker obeys his in
stinet OF caution.