West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1915-04-01


facturers In the middle west recently
expressed the opinion that the only
obstacle to American prosperity was
the senseless pessimism OF Wall
Street.
How senseless this pessimism Is
may be inferred from a statement
credited to President Thomas of the
Lehigh Valley railroad, who was re-
ported last week to have said:
THE continued prosperity of the
United States depends almost entire
ly upon what is done I'm Washington.
II would advise an expenditure OF
10.000.000 tomorrow IL the situation
In Washington was clear.
But the uncertainty of which I
speak means that we must withhold
this s10,000,000 expenditure for an in
definite period"
AT the very time that Mr.. Thomas
was pouring forth this tale of woe.
the Lehigh Valley railroad was adver-
Using a quarterly dividend Of 21a per
cent on It's common stock and 2h per
cent on its preferred stock. A rail-
road that is paying 10 per cent divi-
dends Is not starving to death, what
ever "the situation In Washington"
may be.
There is no situation in Washington
that Is hostile to business. There has
been no other time in ten years I'm
which there was SO little crusading
against business or in which business
had SO little to fear from politics.
There has been no time i'm ten years
in which legitimate business could
face the future with SO little uncer-
tainty. Yet Wall Street continues to
talk calamity, think calamity and
dream calamity. When it might he
making New York the financial center
OF the world, 1t spends its Nme in con-
spring against an administration that
cannot be bought or bullied.
The feeling is growing that Wall
street wants no prosperity unless II
can hog 1t all, and that the typical
Wall Street bankers idea of prosper
ity is per cent for loans, with s per
cent commission and 81 per cent OF
the common stock as a bonus.
Wall Streets days of exploitation
and gambling prosperity are done for
They will be no return to the period
when the New York bankers could
take the cream and leave the rest O,
the country drinking skim-milk. The
dream OF revival OF Hannaism
which is noted by the Washington
correspondent Of The World, is only a
dream. 1t will never materialize.
We have no doubt that the reaction
airy Republican leaders are ready to
sell their party out to Wall Street
again. They are all giving full voice
to Wall Streets calamity cry, and
their general attitude toward govern.
ment is anything-to-b eat-W Wilson. Blu,
that sort of thing can be easily over.
done. and IL the country Is willing &c
throw away all the fruits OF ten years
OF agitation to curb predatory pluto.
cracy, the country's standard of intel.
ligence is much lower than we have
ever had reason to believe.
The Wilson administration is no,
warning on business, but business Is
warning on the Wilson administration
In an attempt to stampede the Ameri.
can people back to Hannaism. Wher
the government at Washington Is con.
fronted by the most delicate and per.
picking problems that have beset an,
administration since Lincoln's, and
the country itself is distracted by the
disturbing consequences of the great.
est war in history, pluotocracy thinks
1t sees chance to re-establish itself
again in Washington for another reign
of dollar-despotism.
If Wall Street is not willing to &C.
cept the very reasonable restrictions
to which business has been subjected
and to keep step with the march OF
progressive legislation, one thing is
certain. It's next great antagonist
will not be the Democratic party bu;
Socialism. There is no surer way OF
making Socialism a living. breathing
vital force in American politics than
the way the Republican-Wall Street
coalition has adopted.-New York
World.