The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-26
They're Necessary to Bust
ness Recuperation, He
Tells Virginia Editors.
GREATEST PROSPERITY
FOR I. s. TO FOLLOW
It's Coming When "COnsti-
tuition of Business Free
dom Is Adopted"
HE WANTS UNCERTAINTY
RUBBED OFF THE SLATE
Secretary McAdoo Backs Up
President by Saying the
Country Is Prosperous.

WASH iSGroN. June 25.--in an address
70 the Virginia Editorial Association at
the White House to-day President Wilson
set forth his reasons for insisting on the
completion OF the antitrust programme
al this session Of Congress
He said that he felt called upon as a
friend Of business to insist that the pro-
eramme he completed as quickly as pos
slble because he regarded the proposed
new trust laws as the constitution OF
freedom for business
The President predicted that as soon
40 this constitution" is given to the busi-
ness world there will be a boom in this
country such as We have never witne ssed
in the United States
Business has labored uncertainty under
attacks and criticisms for ten years, said
Mr. Wilson. and the sooner legislation
10 passed which removes this uncertainty
and the cause for this criticism the better
ON business will be.
Secretary McAdoo backed up the Presi-
dents address with a statement issued
late In the afternoon Ia which he asserted
that business IL sound and the country
generally prosperous. He made public a
letter from f. F. Swinney. president OF
the First National Bank OF Kansas City
Mo-. who declared that conditions In Mis-
souri, are thoroughly satisfactory.
The Presidents Address.
This was the Presidents address,
II think 1t IL appropriate. ladies and
gentlemen. In receiving you to say lust
word or two in assistance of your juds-
ment about the existing conditions. You
are largely responsible for the state OF
pubhc opinion. You furnish the public
with Information and In your editorials
you furnish 1t with the Interpretation OF
that Information.
I'VE are in the presence OF a bukines -
situation which is variously Interpreted
here in Washington through the Bureau
or Commerce and other instrmentalities
that are at our disposal. and through a
correspondence which comes In TO US from
all parts OF the nation We are perhaps
In position 10 Judge OF the actual CON
diuon OF business better than those can
judge who are at any other single point
In tho country; and I want to say to
YOU that as a matter of fact the signs OF
very strong business revival are becom-
ing more and more evident from day to
day.
81 want to suggest this to you: Business
has been in feverish and apprehensive
condition In this country for more than
ten years. ] will not stop to point out
the time at which II began TO be appre-
hensive. but during more than ten years
'uFh'So Has pttl tnt OBJECT OF SnArD
criticism I'm the United States. a criticism
growing in volume and growing in particu-
larity, and as natural consequence as
the volume of criticism has Increased
business has grown more and more
do who. fear they will have to undergo an
operation and who are not sure that
when they get on the table the operation
Will not be "A capital operation. As a
matter OF fact, as the diagnosis has pro-
crossed II has become more and more
evident that no capital operation was
necessary; that at the most minor opera
ton was necessary to remove admitted
dlstempers and evils
-"Constitutional Treatment"
THE treatment is to be constitut ona
rather than surgical. affecting habits OF
life and action which have been hurtful.
For on all hands IT Is ADMITTED that there
are processes OF business or have been
processes of business In this country which
ought to be corrected; but the correction
has been postponed, and In proportion TO
the postponement the fever has increas ed
the fever of apprehension.
"There is nothing more fatal TO bust
ness than to be kept guessing from month
~ month and from year to year whether
something serious is going to happen TO
II or not. and what In particular IL going
10 happen to II. II anything does.
ut Is impossible to forecast the pros
poets OF any line of business unless you
know what the year Is going to bring
forth. Nothing Is more harmful. nothing
has been declared by business men to he
more unfair than to keep them guessing.
1.-THE guessing went on. the air was
full of Interrogation points for ten years
and more. Then came an Administration
which for the first time had a definite
programme OF constructive correction and
OF destructive correction, but OF con-
structive correction OF admitted evil-a
very clear programme, disclosed 80 far as
possible in "A general programme, In Its
particulars as we'll as In its general fea-
lures And the Administration proceeded
TO carry out this programme
Reviews constructive" Steps.
"First there was the tarff. and bust
ness shivered. We don't like to go H.
the water looks cold but when the tarlfi
had been passed 1t was found that the
reimbursement was possible without any
serious disturbance whatever. So that
men said with sense OF relief, Well
we are glad to get that behind us, and
Il wasn't bad after all
Then came the currency reform. You
remember with what resistance, witt
what criticism, with what systematic
holding back large body OF bankers II
this country met the proposals OF tina
REFORM and you know Immediately aftel
It's passage they recognized It's benen
aud its benefcence and how ever since
the passage Of that reform bankers
throughout the United States have beef
y-r-..---- -