Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1914-01-27
Era Of Cooperation Between
Nation and Financial
Powers Predicted
CRITICS HAVE DONE HARM
Governor of Stock Exchange
Says High Business Stand
ards are Needed

Praise of President Wilson's trust
message, condemnation of popular at.
tacks upon the New York stock ex.
change and an attack upon some of
the findings of the house committee
of the last congress which investi-
gated the so-called money trust"
were coupled in an address here to-
night before an assembly of local
bankers by William C. Van Antwerp.
one of the governors of the exchange
and student of economics. He be-
spoke an era of cooperation between
the financial powers of Wall street
and the nation.
when the President Of this coun.
try speaks of the atmosphere of &C.
commodation and mutual understand
ing-when he dwells in loving kind
ness upon terms Of honorable surren.
der; when he tells us the 'antagon-
ism between business and govern
ment is over; when he speaks Of
heartening the young men coming
on; when he tells us the constitu-
ton Of peace is honor and freedom
and prosperity; when, say, the head
of this government whom we once
thought to be speaking in the plati.
tudes of his predecessors, but whom
we now know to be speaking in words
burning with vitality-when he says
these things, is he not voicing a man.
date for fair play, for altruism and for
righteousness?
Will Stick to Standards
"Heresies and schisms come and
go; man-made laws appear and dis
appear, but the human heart does not
change, and in the last analysis we
come to know that only righteous
ness exalteth a nation. We of the
stock exchange know thsi today bet
ter than we ever knew it before, and
we intend to live by it through the
years. We shall make many mistakes
no doubt, but we shall stick to our
standards and rejoice in them-and
some day-mark my words-this
great market place will earn the ad.
miration and respect of the whole
people.
He said the legitimate business of
Wall street was often condemned for
the sins of promoters, of bucket
shops and of ill-fated ventures. He
attacks the money trust committees
Interpretation of figures showing
loans of New York banks on stock
exchange collateral and declared that
actually the amounts of New York
banks loaned to the country at large
far exceeded loans on stock.
1.-THE harm done by these random
and misleading implications is incal-
culable, and good but unimaginative
business men who accept such state
ments as authoritative should be told
plainly the facts" he said.
Will Broaden View
THE New York stock exchange to-
day is conducted on a higher plane
of ethical business standards than
any business in America. bar none
There are men in New York, and |
have no doubt in Washington also,
who, whenever new proposition
comes out of the South or West, con-
denim it as irrational and visionary
without giving thought to the emer-
gency which gave it birth. We are
provincial and narrow, and in hug
ging our chains with SNUG, pharisaic
indifference to the problems of the
country at large, we fail utterly III
the fundamentals of good conduct.
Can we Of New York and the East
obstinately refuse to adapt our course
to new and ever changing country
wide conditions? Before we appeal
to our critics in the West and South
for sanity and clear thinking in our
own affairs we must emancipate our
selves from whatever is local, pro.
vincial and selfish. We must pur
away the isolated, detached and mar
row view when occasion demands and
steer our ship toward the broad hori-
zOn of America"