The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1914-11-12
Noted Chicago Men Answer
Question at Meeting of ST.
Matthews Mems Club.
BLAME BANKS AND RAILWAYS
Lack of Confidence in the New Laws
and European War Are Shown to
Have Had Much to do With Paralysis
of Business Conditions in the Nation.

Kenosha men had a wonderful round
cable to discuss the question stWhat
Ais Business at the meeting of the
Men IS Club of st. Matthews church on
Tuesday evening and trio of men
high in business councils were the
speakers for the evening. They in
cluded Edward E. Gore, vice president
OF the Chicago Association Of Com
merce; DR., FL. P. Belt, who is about to
become the resident representative of
the Association at Buenos Aires, Ar
gentine; and G. G. Carver, Chicago
representative of the Department of
Commerce of the United States govern
ment. Seldom has such trio of bust
ness experts spoken before any body
in this section of the country and the
addresses of these men proved a great
treat to the men of Kenosha.
Declaring that the chief cause for
the depression Of business was the fact
that the railroads had sulked like
small boys who had been whipped
and that the bankers of the nation
were "overly cautious Mr.. Gore
analysed business conditions in a most
interesting manner. He showed that
the trouble had all started in 1917
1912 when the railways failed to get
rate allowances from the interstate
commerce commission and they imme-
diately became sully. They failed to
buy steel, curbed extensions, instituted
retrenchments and hired as few men
as poas ia 4aa showed Il spirit of
teaehirg the people the danger Of turn
ing down their demands. There was
paralysis of trade on this account
and the position taken by the railroads
WIS wholly unworthy Of their great
business Then came the currency leg
lslation Of 1913 and the bankers were
strong on precaution, both outside and
inside of the banks, and this brought
curtailment Of business all over the
country. They were frantic in their
opposition to the new law and grabbed
at 1T like hungry pup at biscuit
On account Of the attitude of the banks
Mr. Gore declared that there had been
no new enterprises, no re-organizations
and no consultations up to the close
of 1913 on account Of the fact that
business had no support from the banks.
The hand of caution in the banks was
present everywhere and everywhere
effectual. He showed that the tariff
legislation brought a disturbance of
business and the antitrust workings of
the administration brought cause of
fear, although there was no rea-
son for fear in it.
He discussed the effect the European
war in closing the markets of France,
Germany and Russia and the closing of
more factories. England, he declared
offered market for only munitions of
war and food stuffs. He declared that
the market had been paralzyed for
lack of an outlet. He showed the eff
feet Of the war on the cotton industry
when the great market for cotton
abroad which had taken the bic ma
'jority of the crop from this country
was closed. He declared that there
Is 100000 bales Of last years cot
ton unconsumed and that the crop was
only half harvested this year. He
spoke of the lack of organization
among the men who make the cotton
industry and found in this one of the
grave dangers to this great Ameri
can industry.
Mr.. Gore found in national eeono-
my the real remedy for conditions
He showed that the waste of the rail
ways could be cut by elimination of
some of the competition, by the use of
only necessary passenger trains and
the converting of the others into the
freight carrying trade. he declared
that there were too many separate
railway corpora He made no
suggestion of government ownership.
but insisted that one corporation would
better handle the business of the rail
ways He urged improvement of the
government civil service to include eff
ticiency examinations and he declared
that within five years the government
would be forced to finance the railways.
BE spoke at length on the question
OF federal reserve banks, declaring his
belief that this new system Will
eliminate panics. II was human nature
he declared, that depositors did not
want their money when they had no
trouble to get it. He declared that
the tariff was not political football
and that both the democratic and re-
publican parties had been chastened
for their tinkering with it. The anti
trust LEGISLATION. he declared. was not