New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-12

ever have been sufficient ground ten
years ago to have predicted that we had
straight ahead OF us the possibility OF
period OF great expansion.
1T would then have been safe pre-
dictiou. with such data as now exist 10
have said that II the summer brought
fulfmcnt OF the present crop promise IL
the political difficulties on our Southern
border could he composed without inNoIf-
ing tho country in an expensive war ana
If q spirit OF judicial fairness would lean
the government authorities TO grant 10 the
railroads some relief from the trying con-
bination OF increasing expenses ana s'a
tionary income. that We would see %! IAN
the beginning made of a period oil lhuus
trial accomplishment which would I'"hc
the results attained in all previous pci'o''
seem small by comparison. d.
Referring TO the legislative taC'o'S
the outlook again. in closing. MT. NahN''
lip said: .4.
DO not deceive yourselves that ths
nressirg food Of new legislation is the
accomplishment alone OF strong Nileu
executive or the work OF Iau'0''''
minded Congress.
The causes arc not TO he atu'ou'e"
the suppostion that We have "a" o"o'
ness men: rather those causes are ""''
TO he found among the inNoiuh''''
suI,s Of the revolutionary changes tha'
the new industrialism has brought mo
business life. We may frankly adiih' '"d'
there have been in the last score Oh 9t"iS
graspinr men and dishonest men III
busin.ss-as there have been since tho
beginning of time and will always con-
tinue TO be. But l believe there are
fewer Of them proportionately to-da!
than ever before
Il believe that the cure for many OIL
the present evils that are affecting puS'-
ness lies in the hands OF business men
themselves. and il will be effected IN the
measure in which business men see to II
that the public honestly and clearly is IN
formed The real psychological barriers
to a trade revival will then he removed
SUPERINTENDENT Eugene Lamb Richards,
OF the New York State Banking Depart
ment. strenuously attacked the present
policy of. the national administration in
regard to business legislation.
1T is not what our wickedest citizens
have done which is making business a
wreck" he said. at is what government
interference has done and is doing No
money trust is the cause of our present
business depression. We must 90 deeper
and farther than past performances OF
money kings And when we do We
shall find the causes of depression in the
steady piling up OF attempted control
over business, in official tinkering with
the law of supply and demand and in
statutory attempts to alter the PLAN
principles Of commercial competition
Robert II. fireman, Of Ithaca, president
of the association. called upon the bank
ers for their hearty support of the new
federal reserve act.
Taken as a whole" he said, lit is a
good bill, which should receive the hearty
support Of every banker until practice
discovers defects which should be cor
rected. Certainly until then it should be
faithfully supported
Mr. fireman added that while there
seemed to be prevalent feeling OF I'M
certainty in business. depression and
lack of confidence in the future, he
thought that if the country was given
a rest" from further disturbing legisla-
ton" it would adjust itself to the changes
enforced by the new laws and things
would work out all right.
Prominent bankers from all parts OF the
state are here for the two-day convention.
Apart from the condition of business. IN
terest centred upon the contests for the
1 directorship in the new Federal Reserve
Bank of New York.
J. c. Leggett, president OF the CUBA
National Bank, Of Cuba, y. Y, who Is on
the insurgent ticket Of the smaller up
state bankers, said: "A good many OF
/ the smaller bankers in parts Of the state
remote from New York don't know there
is an election coming off"
Robert II. fireman was nominated TO
succeed Fred II. Hyde, OF jamestown, on
the executive council, and George u.
Clarabut. Of Rome, to succeed Walter e,
Frew. OF New York. b. f. Smythe. OF
BronxvilIe, was nominated as vice
president.
The annual dinner was held at the
Griswold this evening. at which the
sneakers were Senator John w. Weeks,
OF Massachusetts Job +. Hedges, or New
York. and Charles +. Mathewson, of New
York Howard Elliott, Of the New YORK
New Haven & Hartford Railroad, was the
guest OF honor st the dinner.