The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-01-12

TO KILL SOCIALISM
by ID. c. FORBES.


construction.
Tire people. biunderingly II may be.
crudciy and iEnorantly, but earnestly,
reaolutely and unfiinehingly are insist
ing upon reformation and regenera-
ton.
History is written on each days
page. The times are momentous.
We are moving rapidly. We are
Fastening forward. Whittier are we
going?
Does all the turmoil, all the mani
festation Of unrest all the loud dis
content, all the stewtng after change
mean that we are being carried to-
ward Socialism?
Or ts the regeneration now vlgor-
ousy prosecuted destined to rou So,
cialists Of their ammunition, strip them
OF their armor and render them Inn
potent?
Between now and 1915, we should
have definite answer.
An Age of Action,
Ny own belief. held with some con-
ndence, Is that, through reasonable
action by capital, by labor, by the
press, and by the politicians, the
country can evolve conditions so eeui-
table, SO satisfactory, 20 conductive
to Individual freedom of efforts so
full OF opportunity to the honest and
the ambitious, that the doctrine Of
Socialism will md but little favor with
the great majority Of our citixens.
The events OF recent weeks, particu~
iarly those before the money trust"
investigating committee. and their
handing by the newspapers, make
timely a discussion of this broad sub
tect. for does It not lie at the founda
ton Of all finance, Of all industry, Of
all labor? We cannot merely daily
with theories; we are living in an
age Of action.
There has been a tendency on the
part OF even the gravest of news
papers 10 misrepresent the evidence
given by prominent financiers berore
the Puto committee. The questions.
rather than the answers, have been
biazoned in the headlines. Not what
the witnesses actually said. but what
ii was desired they should admit. has
too often been given such prominence
az TO present TO the public dis
torted conception OF the facts as mar
rated by the witness.
Need to AiIay. Not fnfurtatc.
TO Herve up sensation" at the cost
of accuracy under current circum-
stances--at so crucial @ time--is
worse than dishonest; 1t is diaholical.
for. as impressively pointed out by
President Elect Wilson. there is
need 20 allay rather than infuriate
public sentiment
From recent disclosures will arise,
as there ought 10 arise, 81 demand for
corrective legislation. But unless
new Jaws be conceived in "a spirit Of
fairness instead Of revenge, unless the
public be guided by facts instead of
malicious misrepresentation. unless
the dominating desire be to cure
rather tLAp kill, the United States may
be plunged into chaos calculated to
delight anarchists, hut 20 make sober
we'll intentiuned citizens Weep.
The press, the politicians, the TABOR
leaders should take a. solemn view Of
their responsibilities at this 5Uncture
Ihere ls no occasion for er4eg era
ton. The situation is In truth. deli
cate enough. Abuses a-pienty exist
without tr2mping up imaginary ones.
The public mind is already hot
enough without tanning II with false
hood.
Wall Street, high finance. big bust
ness. the stock exchange-the whole
financial machinery Of tho country
liz about TO be attacked by the politi-
clans, as IL has been attacked almost
Unfortunately by thousands Of
newspape NOBODY possessing nor
ulal sense. unless ne lie an enemy of
the country. vii seek TO incite reck-
less, revengeful, spitefii action.
pslicste Machinery,
There is no more deilcats machinery
on earth. the engineer never invented
more intricate contrivance. than
Wall Street. Abuses there are, re-
forms there must he, but let calm
common sense a spirit of construc-
ton, not malice or mania for de-
struction, guide the framing OF reme-
dial legislation
Certain ananciers, certain COVER
nors Of the New York stock Exchange.
have been blame worthy for stubborn
ly acting on rhs assumption that their
affairs and their institution are sac
rc~anct TODAY they know better
II II for them to mend their ways
IN help and not hinder sorelv needed
reform. 20 take the public into their
confidence rather than Gout them.
They have their part 20 do n they
shirk H. then the work viii be done
s@3T tsesT14 III a rH4e-t4seP' nSf -Y,fst. itke.
Come gsos and 3eS oa reason TO-
sether."
Not unrelatsd To- the foregoing is
the Transformation thai hss overtak-
AT the money n1arkef In place Of
last months 20 per cent can money
We have now a J.? per cent rate
while leans amply secured by stock
exchange collateral cost only two
thirds of the decreased price. This
lie an extraordinary change. Every
one IA the NnAnClAi WofiQ Gs A&kinG;
What DOES It mean
II means one thing, tiridity.
I cay this not as an aiarrnist, but
II liz a. fact. and because II throws a
FOOD OF light upon the first part Of
this article My plea for sohriety
Is not unnecessary.
Ninety mine persons in every hun
6rsd who have money available for in
vestrnent viii not lock 1t up. They
want To keep II on string, 90 to
speak, In order that they may pull IL
back at moments notice.
Said the head Of the most frnper-
tant bond concern In the country TO
ma NJ the end of the week; People
are not buying bonds. Everybody
wants something~-when anything ar
all In wanted--that natures In the
near future. agree entirely with
your reading OF the monetary mitua-
tton---as just outlined"
Money 10 being lodged in banks
No great railroad pro5ects arc being
piannsl. No huge industrial enter
prfsss are being established. No com
prehsnsivs scheme fer developing
mining properties IN being carried
cut
DO you blame IL % asked one OF
Americas foremost nnancfers when