Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-02-01

do everything at oncef Why no
on a strong, prosperous, stable
foundation
Methinks we have been exalt-
ing the politician overmuch, and
undertaking the value to the
country of the energetic, pro-
gressive business man.
The first material need Is work.
Without work most Of us can not
obtain the necessities of life.
In the Balance.
Evii practices. monopolistic devices,
Undue financial power-all these are
I'm line for correction. But why in
flict upon the patient--business-
many major operations all at once
when his vitality needs strengthen
ing. not further weakening? Let's
weigh men and their worth to the
country dispassionately. Let's con-
slider how much the average employer
contributes to keeping things going
prosperously And then place the
services of the average politician In
the scales-although OF course, the
assumption must not be made that
even a majority OF politicians are of
the stamp that many of the Empire
States are proving to be.
The great hanks of Europe have
lowered their discount rates to the
lowest level in years,
And in America funds are piling up
high In New York. Chicago and other
banking centers.
The sudden Transformation in
y,ennpfory condition, q broad radaatS
10 some extent the slackening in
trade, but II is partly due also to the
disappearance of all fear of grave in
ternational troubles. Hoarded money
is coming out.
Whereas loans were fiat failures
one after another-a few weeks ago.
they are now being eagerly over
subscribed. A Prussian Government
issue was bid for many times over.
Europe in Wall Street.
One result important for America
SIS that European investors who sold
back scores of millions of our securi-
ties last year are now rebuying on
a larger scale than is generally
s1nown.
Important in ternationai bankers
here have flled many large orders
during the last week, and they ex-
This. together with cheap money.
can not fail to improve matters he:
We can look for many new offer
ings of bonds and, later, stocks. The
q absorption should be moderately sat
tsfactpry.
Already the New York Stock Ex-
changes speculative kettle has boil
ed on several occasions. The bears
have had hot, uncomfortable time.
Prices have shot up all through the
active list. And optimism is out
running quotations.
NY humble view Is that the market
will be called upon 10 absorb so many
new obligations that the upward
movement viii be held in check and
thH there are apt 10 be. FIRST, mer-
0antile, and later political develop
ments calculated to cause recessions
as well as advances. II will still be
prudent for Investors TO buy the best
grades OF investments For specula-
tive purposes, Hollands lead in buy
ine very lorw-priced railroad stocks
NAV prove wise.
Much hangs upon the Interstate
Commerce Commissions action In the
Eastern freight rate case The Com
missions language In the industrial
side lines case is not particularly
inspiring, nor Is It's attitude IN Its
St. Louis and San Francisco inves-
tigation calculated to strengthen con-
fidence in its ability TO WELD with
consummate success the tremendous
ly important new powers Il seeks n
the way Of bringing the nations rail-
roads more abjectly under its thumb.
Too Much Reverence.
I have noticed that in this country
there Is a disposition among the peo-
pie TO regard man as suddenly en-
dnwed with almost superhuman Wis
dc~, the moment he is taken from the
{ civilian ranks and placed In a high
governmental position.
Joan Smith may have been always
REGARDED as mediocre fellow by his
res ehbors and business associates,
but he instant he is given a Govern
nent Job. carrying with II enormous
power. he becomes sort of deified, his
slightest word is accepted as oracular
wisdom and no citizen must question
the efficacy Of any Of his acts.
John Smith as Interstate Commerce
Commissioner, or as Secretary OF the
Urea sury. or as Comptroller OF the
Currency. or as judge on the bench,
Is still the same John Smith, who WAS
perhaps no great shining mark in his
own line.
Don't. let US throw away too much
~