The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1914-06-18

EFFECTS
BUSINESS

New London. Conn, June ll.-ln
an address today before tho New
York Bankers association, in annual
convention here, Prank A. Wander
lip, president Of the National City
bank OF New York, AnalyIed the
business situation of the day, hold.
inR that it had become dependent up
on political rather than sconomie
factors.
In part ne accepted President
Wilson's diagnosis Of "psycboloei-
cal trouble In business.
II believe he said, THAT the lack
Of enthusiasm about the future, the
state OF pessimism that surrounds
many phases Of business, the disposi
tion toward extreme conservatism,
the lack OF new plans for capital
Ell penditure for railway improvement
aud extension for new industrial
conquest, all have their roots in =
state OF mind rather than ia the
statistics Of actual business data /;
but Am not certain that this state
OF MINI is grounded in unfounded
fears, that IL is caused by legislative
ghosts engsndered by baseless appre-
hension concerning legislative ten
denci@s aud the trend of public opin-
lon.
The obstacles in the way Of busi-
ness recovery may perhaps bs truly
desc cribsd Is psychological, aud still
be = manifestation of sound business
sense In apprehendiDR the true mean.
Ing Of the political and economic sit.
uAtlon. ''
He described the standards that
used to prevail In the judging Of the
business future statistics 0f procuc.
tiou and distribution, condition Of
the money market aud OF credit and
crop outlook.
Now, he said. the cOnsrsssioD
al record Is croWding out OF its place
the importance OF the financial
chronicle. We watch executive and
congressional action rather thsu ths
comptrollsr's abstract to gauge tbs
status of banking Affairs. The atti
tude OF mind OF the Interstate com
meTce cou IN ssion has become NOR
important than the statistics OF rail
road traffic The factors that ~,
have mostly iB mind are nov neW
laws are next 10 be passed what u
! the prospect, not Of crops, but o
} cong ressional action.
III such Psychological factor
could be eliminated for n moment AND
, the cid view taken We would SCI
! looming large the prospect OF a greG
agricultural yield, giving promise u
some directions OF bumper crops nov
: almost assured.
II do not want TO be uDdent,'o'
as believing that this state OF pObli
{ mind, this quality OF public opinion
D is altogether wrong The basis tina
. is back Of the depsnd for legislstiV
, restrictions and control OF business
5 believe In large MEASURE to be mad
= up of sound economic facts. Tb
E development OF iDdustrialism withi
{ our lifetime has been Of such = re-,
: oiuJionsry character a. naturally 40
Z rightly 20 create \ demand for
5 body Of controlling laws. such a
I we're never dreamed Of by our father.
r Il believe IL business men will Re
( themselves into a state OF min
/ where they view conditions brosdl'
= with a Historical and sccisl sense
q rather than only from their indi'ic
{ uaI point OF view. they will Apprs
S hend better the direction in uhic
e the whole current Of political though
z is nowiuE and will feel less imps
. thence With this legislative move
= meDt and vastly less pessimistic COT
e csrning its results. Butts Post.