The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1915-05-28
JUDGE CARY


tounsianei ffum rage onel
-
heretofore r-nReested. the leadinsl
Newspapers % thts country have been
lair and renednahIe IN their advocacy
81 whatever mnkts Tor tfe advance
fsen. 81 tie 1ennnmiH condltiona o.
ihis conHlfy and IN ihrir Opposition 90
tln Efforts 81 nmie or unthlnkinr or
vicious men a. the contrary. what
fttiows ~ my remarks viii be said
troia the Viewpoint Of those Who MAY
BE- directly connected with and PR
ueuiarlr Interested In the eonsidere-
tloa Of economic 4~Heaiinua
sGuse Reasons Tor E.sek Bs Prosperity
Tho material atfeueth and srowth
81 the courtfy - OF hish Importance.
Food. faitatnt and shelter are abso-
iutely essential % the life and health
or the iadiFlduai This Is interviewer
with an other questions. A nation %
individuals who are poverty stricken
has lsiiir influence ~thFouEhout the
world. "A cannot ado mach 10 the
happiness OF lts citizens. ~ they are
deprived ~ the necessities 81 iifd
they Wax nN3 listen long TO the sd
soeafea Or mere morals. nor 10 the
speaker on the stump who seeks po-
Itical preicfemeut p therefore be-
hoeres every one ~oecupying . position
% influence 10 give his best thought
n cndeavor 10 tho promotion OF
business success In this country % the
fullest extent consistent with pro-
pfiety.
Attention 10 called 20 the attitude Of
governmental agencies during the last
Few years toward the business Of h
country n toward It's attempts TO
develop trade. Has Il been wise and
judlcious7 Has Il been fair and Tea-
ssaabieg Has 81 been broad and un-
biased, or narrow and prejudiced2 Has
IL been calculated TO benefit all cit
ixcns aiikc7
with the advantages possessed. this
country by reason Of It's i0Sati0S. cii-
mate. natural resources and immense
wealth. 81 l. not too much TO insist
that u should have been continuously
more prosperous financially, CONNER
sally and industrally than any other
nation ol the face OF the globe. Cap
itai should ave been protected, labor
constantly employed at liberal WAGES,
business enterprise encouraged extern
Sims aEd improvements continued
without Interruption. the wealth and
population should have Increased
more rapidly and az a result all the
people would have been happier and
more coatented and moro generous
towards each other. Moreovr, the
standing and influence OF the nation
throughout the world would have
been improved. Il Is aificult TO rea-
Ike az his time what might have
been accomplished II all the opportun-
ii.eH for reasonable success had been
gfasped.
But VIVA can truthfuliy be said OF
business conditions In this country
during the last ten years? Prosperity,
n Il has been the rule. has often been
Interrupted; depressi0ns hav been
frequent and severe; idieness has been
noticeable and It's results often dis
iressing. Douot. misfortune and fear
have been prominent IN business cir
Cics. capital has been more or less
timld and enterprise has hesitatcd.
American investors. and more partie-
ulafiy foreigners with funds FOR in
Yestment. have doubted the value OF
securities, which under some circum-
stances would be considered FIRST class,
and have declined 90 purchase. We
ave been the object Of sympathy,
and sometimes or ridicuie. By the IN
telliRent European unanciers and
economists. Words might be multi
piled 20 illustrate the u~nfaycrabie con-
ditlons which n sc prevailed. IL Is
2 hat various causes, some OF
which have been removed and ought
20 have existed. have had a di-
rect and important influence IN pro-
ducine adversely. This applies espec-
tally 10 conditions which the federal
reserve act. recently passed by on
gress and o In force, was Intended
10 remedy. This act seems 10 oe gem
orally considered ~ sound and val
liable even though some amendments
may be needed. The back Of business
has been badly bent with unnecessary
burdens. IN In fact has been near
the breaking point. There has been
Nn admonition against Rocking the
boat and We approve Of the seltiment;