The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-02-08
BUSINESS WORLD
FEELS LESS SHAKY
Confidence Grows, but Craze for
Anti" Legislation Causes
Doubts.
HAsTY LAWS STILL PERIL
No Time TO I'rot Out Revolt
tionary, Impossible Measures
Aimed at Commerce
HAsTY LAWS STILL PERIL
ny II. G. FORBES.


more fully employed, money is more
plentiful Investments are on n firmer
basis and confidence Is less shaky. al
though business men still fcel COM
PEELED TO keep close eye on Wash
inEton, and the railroads are still be-
SCI by doubts
The craze for arti-this and anti
that legislation persists among the poll
ticans but employers now believe that
the general public is more anxious to
preserve industry on an even keel than
10 run any unnecessary risk OF up
setting things until prosperity has been
won back.
Tie latest attempt TO forbid the use
OF the mails to newspapers or even to
letters bearing upon stock exchange
transactions unless certain wholly i'm
possible regulations are complied with
is glaring instance OF legislation run
10 seed
Were the so-called owen Bill" in
reality the Pujo measure, passed in it's
present form, the whole financial ma
chinery of the country would be thrown
violently out OF gear, and every one of
us would be affected.
Then have YOU noticed how laws
work out? | refer to tho proceedings
just started against the union of print
;uE trade employees Those who clamor
FOR ultra restrictivc legislation against
one class are apt TO overlook that the
same legislation, ii applied to them
selves, would be most embarrassing
Ana class laws have no place in a
democracy.
What is sauce for an employer ought
to be sauce for an omployc.
There is danger think. Of going to
injurious lengths in hastily rushing
through "anti' LEGISLATION.
If Americas business werc not con-
Quoted with moro skill and brains than
characterize fits lawmaking. we would
be the laughing stock of other indus
trial nations. The superiority of law
yers in Congress provides abundance
OF work for lawyers in practice And
the public-the OBSERVATION-DISCLOSURES for
II all
Take the proposed legislation to
prohibit interlocking directorates. If
40 man could be allowed TO sit on
more than one board, where are the
millicn-odd directors necessary for the
country's thousands of corporations 10
come from?
This is another bald instance OF leg
islaticn gone 10 seed
That the interlock!nE dodge was car
ried too far by the Money Power
no one--not even the guilty ones
denies, And that remedy must be
found is also admitted
But TO Jam through crude. idiotic
bills. drawn up by rank neophytes,
would bring chaos.
America needs the fun service OF
her ablest leaders in finance and in
dustrj She cannot afford TO drive
them out OF business or render
them i,npotent
America must not discourage lcgit-
innate enterprise
And 20 forS!d a man from having
? voice liz more than one concern, no
matter how remote one might be
from the other IS assuredly calcu-
-.f ea s-r~. H.
ihis Young country's incalculable re-
sources. e.
Wakes ..U:L.tc slowly.
Washington would do woll, for tho
present at least 10 make haste slow
~ ia shackling enterprise 1t Is so
much easier 10 tear down than TO
build up
with SO many thousands of unem-
ployed and so much distress among
families Throughout the land. this
is no time 10 trot out half-baked.
revolutionary, impossible laws aimed
at commerce.
To nay mind, the public interest will
be best served at this juncture by let
tinG the politicians know that common
sense IS expected Of them
European bank rates are stiu falling.
supplies Of FUNDS are increasing. new
loans are being more readily absorbed
and the hourses are displaying more
rheerfulness.
~ nome money - accum uiating in
New York and other centres. the de-
mand for superior Investments is
broadening, ncW offerings are not com
Ing forward in overwhelming quan-
THY ana good stocks are regarded es
cheap.
The more powerful financial groups
VIII probably try TO maintain strong
stock market, at least temporarily. &c
facilitate he hotation u new Issues
II THIS course bo followed, tho public
,nay be attraeted in numbers. as ther,
undoubtedly is an enormous sum avail.
able for investment
The hnancial towers that be. how.
ever do not count upon any runaway
bond or stock market
TREY cannot gnofe Mexico
They are not sure the Interstat,
Commerce Commission win expedite
their freight rate decision
The Federal Heseryo Board has still
Ia lie named.
And, loohne farther ahead, eolc
e@pons on an UNPARALLELED scale ar,
expected once the new currency system
Is Introduced. One Of our braincst IN
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