The Birmingham age-herald., 1914-01-25
STOCK EXCHANGE
PRAISED IN SPEECH
BY VAN ANTWERP
Says Real Exchange Vital
to Business-PraiseS
Presidents Trust
Message

Z Washington, January 24.-Praise or
lPresident wilson's trust message, con-
fiemnation of popular attacks on the New
Nork Stock exchange and an attack on
lfrdings Of the House committee of the
hasr Congress which investigated the So
kalled money trust were coupled in an ad-
Edress here tonight before an assembly
tpf local bankers by William c. Van Ant
sswerp, one of the governors Of the ex-
hrhange and a student of economics. He
Ibespoko an era of cooperation between
financial powers of Wall street and the
L-nation.
when the President of this country
speaks of the atmosphere of accommo-
dation and mutual understanding'-whe
he dwels in loving kindness on terms of
Honorable surrender when he tells us
the 'antagonism between business and
govornment is over when he speaks of
heartening the young men coming on
when ne tells us the constitution of peace
Is honor and freedom and prosperity
when the head of this government, whom
we once thought to be speaking in the
platitudes of his predecessors, but whom
we now know to be speaking in words
burning with vitality, says these things,
is he not voicing the mandate for fair
play, for altruism and for righteousness?
No Change of Heart
'Hercsies and schisms come and go;
man made laws appear and disappear,
but tho human heart does not change, and
an the last analysis we come to know that
only righteousness exalted nation.
We of the stock exchange intend to live
by 1t through the years, and some day
mark my words--this great market place
will earn the admiration and respect of
the whole people.
I'VE are determined to show our critics
by our deeds that the stock by exchange
means something vital and vitalizing In
America that it is an important adjunct
of Wall street-a broad highway from
ocean TO ocean, doing its utmost to meet
the needs of a happy and prosperous
Hand"
Mr.. Van Antwerp contrasted what he
called "the Wall street of Mother Goose
and Baron Munchausen" with "the real
Wall sti eet." He said the legitimate busi-
ness of the stock exchange often was pop
ularly condemned for the sins of pro-
moters, bucketshops and ill fated ventures
I1e attacked the money trust committees s
Interpretation of figures showing loans
of New York banks on stock exchange
collateral and declared that actually the
amounts of New York money loaned to
the country at large far exceeded loans
on stock.
Told Facts Plainly
THE harm done by these random and
misleading implications is incalcuable
and good, but unimaginative because men
vho accept such statements authori-
tative should be told plainly the facts"
said he. "The New York Stock exchange
t.,dsy is conducted on higher plane of
eihical business standards than any bust
ness in America or any profession in
America bar none. There are men in
New York, and I have no doubt in Wash
inelon also, who whenever a new proposi-
ton comes out of the south or west, con-
denn as irrational and visionary, without
giving thought to the emergency which
gave it birth.
'Can we of New York and the east OBJ
etinately refuse to adapt our course to
new and ever changing countrywide con-
ditions? Before we appeal to our critics
1n the west and south for sanity and
clear-thinking in our OWE affairs, we
must emancipate ourselves from what
ever is local, provincial and selfish. we
must put away the isolated, detached and
marrow view when occasion demands and
steer our ship towards the broad horizon
of America"