The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-05-03

BTRGAANNs Itf Tie was tEiFtAs rs nv a.
today. in the habit OF lending what
he has--his seed--his cattle. his tools
10 neighbor in temporary need.
freely and without expectation OF re-
! ward He made his living in bibf-
cal times as he makes II TO-DAY. by
selling, not by lending. what he pro-
: duced. This also was the sentiment
of the primitive Romans. when they
too were purely agricultural Poo
Pile. In one OF the earliest Latin books
I which has come down to US this same
/ thought is expressed by old Cato the
/ Censor. who. two thousand years ago.
4 had fell the STRINGS. or what we call
( modern industry, OF a far conducted
/ commerce, but still apoligized for the
ancient prejudice Of the farmer.
II Banking Be Honest,
3 THE pursuits Of commerce" says
Cato. would be as admirable as they
are profitable II they were not subject
20 SO great risks. and so likewise OF
banking. II il was always honestly con
Quoted. For our ancestors consid
cred. and so ordained in their laws.
that. while The thief should be cast In
double damages. the usurer should
make fourfoId restitution. From this
we may }udEe how much less de-
sirable citizen thew esteemed the bank
er than the thief"
At every session Of congress AZ every
meeting OF A State legislature, We hear
vocal expression Of distrust and sus-
p}cfou Of the banking community,
specifically what the popular imagina~
ton terms seueFicslly WALL Street One
who mas been constantly on the go. as
/ have in recent months. meeting peo-
pie in many communities. realizes that
this ia "a deep seated sentiment II the
Am or can people today, I do not IN
tend to hold any hrief for tie bankers
as a CLASH In the railway industry
we have our own troubles. and the
] bankers sre amply able to defend
them sel ~es, but I am glad OF an op-
pertuuitY 70 remind business mon of
what the banker means 10 as all under
existing conditions.
Time Was when It was generally be
! ttsvBt rnBr rtTt ratfrUHrg wrrs r19tzf1E
vast profits because they handled mil
lions OF revenues. Many there were
who purported 10 fishelieve the state
ueuts of the published accounts. com
pArativeiv few there were who ever
4 reAa them. u was enough to know
+ that Tho figures dealt in millions TO
+ believe they were uuholy. Then cam e
the regulation OF tho system OF rail-
road accounts. and with It an appre-
citation by most Intelligent men that
accounts kent under the supervision
+ Of a government commission were prob
ably reasonably correct. and II they
allowed. as they did SHOW. that the
profits were not large when reduced
70 the unit of investment represented
or Of service performed. then resort
must be had elsewhere to hnd the
Niger in tine woodpile,'
Appreciation's Approach.
The American people are not yet
entirely convinced that railroad Is
a precarloAs industry subject to gen
eral economic laws, though they ara
rapidly coming Ia that appreciation
Because Il has been demonstrated thai
thers are thieves and buccaneers in tht
railway industry. as well as in mos
other forms OF human activity, the
popular search has always been tC
find btther have gone the. vast "pro
Hts" which ara believed by many *
b. necessary incident OF control o.
a system OF railways. II now SCENT
likely that publicity will demonstrate
that this suspicion OF all railroad bank
ers like the suspicion of uulawfG
profits OF the railroads themselves, II
q delusion. The recent publication b
a great banking house in New Yori
of the details Of tts accounts with TIN
| New Haven railroad revealed to a.
astonished world that over many year
ot 'iie i'L1 sest lI"asie'f' - a. sA''i'"7 III
bankers pfohI aVe'aseu seF eh1eeI
'hoasa',a ooiiaFF per alinNin' lhls ma
well give ds a|l pause IN ouf pre-
conceived pp4Hip"N' 8'"t !" LUZ '"", ~
Or e'eaF 'hihkihe MS 10 'uu' anu III
reiAtl"hS 10 the bankers venture
Say IN Sonct"fl"A ~ "o'' MS ~ VIZ"
these bankers 90 ioF you ana LOT hF
south Needs New Money.
Tverv one Of Won has a large per
> snna1 interest in the rerfect{op OF tn
II Southern railway as an Instrument O
, commerce fuyse}f have n uereona
ambition and a steady deteruiuatIo
> to accon7nlieh every wear n step toward
tina rnalizstInn Of sour Interest in thI
: resnpct To do that win REQUIRE bring
ling into the south many millions o
raw money We cannot hone to ear
from r,Ir service 10 tho Southern, ueo
: ula ALI that we need to spend on thes
railroads as fast An we must spend I
! Even ~ we devoted ali OF cur incom
to that end. and for many years "
have 50 devoted most Of II. the aFri
cultural ana Industrial South is grow
ing so fast that we could not kee
IN with IL much less keep ahead G
} # ana 90 helm It TO grow. Neither
the south itself vet ready to provid
tha rau{tal by huvtuE our securitie,
Under the operation Of the new incorn
! tax law we have had an opportunity