The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1914-11-04

every facility offered to enable tu1l
body io ascertain The facts ! main
,tlu that durinR tho last ten years mo-
other business has becn conducted
ON any higher moral plane cor with
srcaf,r REGARD 60 economy ur eft
Uier,y To condemn an because ~
tho SHORTCOMINGS OF q few iH a. unjust
3. 60 condemn an banks because some
of them ar4 badly man3E cd Tho
browning act of injustice ga wen as
folly is tho practical disfranchisemcnt
of railroad securities as a basis for
asset currency. The railroad seturi-
ties OF this country have been re-
pardcd az "gilt-cdEcd. they haN"
ncta ~fsyorite Investments FOR saving
banks and insuranr, comp'uics
slfcruardinr the savings OF th'
Thrifty of our population, and they
were beginning 90 be popular iu Eu-
rope, also An ouh1ent authority on
financial matters BAYS.
"The exclusion Of railroad and in-
dustrisi securities as bases for .W'r-
gency currency was not tho result o.
Wise and patriotic hwmaking. hut
was done IN %fosponse 20 ignoraut pop.
ular ciamor ugainst railroads and 'is
business Ia spite capital
The government passes ON and lp-
proves The Investments of OUR udu,i-
ars -nsutuuons-it says in effect that
railroad securities are good enough
Co scDur your money and milne but
MOI good enough for acceptance DO,
I gov eminent as basis Tor ISSUING eur
rgns,, thus putting all the world on
Its guard against the securities OF the
largest industrs of the country.
In The strained conditions that pre-
,a.I .n Europe 10 is altogether Ikcly
that as soon 5s our oN.hungca tr,
open European Investors Viii seek to
( return us iarse quantities 90 Uur
ruritits. who Viii buy Them Nus
should am bod huy them. sine, oar
own congress has said in effect tuat
tse. are secondary Boz secur.ts t0
bonds OF municipalities or stttcs' u
thcr, are 40 buyers Their. will De 1.
prize Picture Goo yourself che result
of % flood uf securities uu the mare,i
and uo buyers what 1871 bc The Of.
feet en- savings bauns. INSURANCE com
4 pauics. ,oliogcs-au rduglarN aud De-.
uetuicnt institutions. who's, asset.
consist largely in railroad ssDlrtuc.
With a shrinkase OF Nalp.s coo an.
known size. they VII be- "pra.u.all
bankrupt
am not an alarmist ana D do uo
wish to paint a lloom view ~ Che st.
uatiou. yet Go NOT thlua J nav, vN
associated the crisis to Wui.a nos
terra aud systemtu, muckrahIug hat
brought us
- would Doe a foolish thins o.
prophecy disaster and Co offer U'
REMEDY 90 palliative. The ufescn
system cannot last. 10 may almus
b., said tu have hFoken down already
and talk of flyi1g Co government own
ctship as being the only recourse b
setting more and NOR, common. Hu
tho public knows too well what thl
operation OF tho railroads h5 GOV
ctument agencies would moau-thI
waste. he inefuoieugs. the piit;gt
pun No one can point to ans nus
mess enterprise successfully and et"
nomically conducted o., government
and to exchang, the cUIIi"ncv 70
present methods Tor those of a sot
eminent bureau would ue "a bad har
gain. indeed.
kHlu NAT NO CUISINES" hah "ff
we'll conducted hy government "a
repeat h.. bat some people point &
The post office and 20 the Panam.
rhnal construction as evidence thn
government can do things
A. 30 IN. postottice, b. b. archai
10 its methods. Wasteful 100 its admin
istration-such efficiency as U poe
sesses comes mostly from the serN
ice rendered hy the railroads 90
which they are undcrpaid. I wuul
guarantee 60 form a syndicate whic
would give a better service for les
money and pay the railroads fairl
nt the same time
A. o. Panama. the work has doubt
less been done we'll and promptly, ye
II may be- permitted us to doubt h
private corporation might not hay
done IA az we'll Tor much less money
and b should he remembered that "a
reason tor such success az 10 has ha
lies in the fact 81 its entire divorce
ment from politics We csnnut trus