South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-05-28

sions and Improvements continued
without interruption. the wealth and
population should have increased more
rapidly and as a result all the people
would have been happier and more
cOntented and more generous towards
each other. Moreover, the standing
and influence Of the nation through
out the word would have been i'm
proved 1T is difficult TO realize at this
time what might have been accom-
piiShed If all the opportunities for
reasonable success had been grasped.
But what can tTuthfully be said of
business conditions in this country
during the last 10 years? Prosperity.
If it has been the rule. has often been
interrupted: depressions have been
frequent and severe; idleness has been
noticeable and it's results often dis
tressing. Doubt. misfortune and fear
have been prominent in business cir
cles. Capital has been more or less
timid and enterprise has hesitated.
American investors, and more particu-
larry foreigners with funds or invest
ment. have doubted the value OF secur-
tiles which under some circum-
stances would be considered first class,
and have declined 10 purchase. We
have been the object of sympathy. and
sometimes of ridicule. by the inteili-
omists. Words might be multiplied TO
illustrate the unfavorable conditions
which have prevailed. 1t is true that
various causes some OF which have
been removed and ought never to have
existed. have had direct and import
ant influence in producing adversely.
This applies especially TO conditions
with the federal reserve act, recently
passed by congress and now IN force,
int "a act
seems TO be generally considered as
sound and valuable even though some
amendments may be needed. The
back Of business has been badly bent
with unnecessary burdens and in fact
has been near the breaking point.
There has been an admOnitiOn against
rocking the boat" and we approve of
the sentiment; but we submit the bus
mess men have not been rocking the
boat.
The opinion is ventured that lack
of continuous business prosperity and
success in this country for a number
of years has. i'm part, been the direct
result Of undue ill-cOnsidered or un-
juStitable assaults which have been
made 10y governmental agencies or by
the erroneous and unwise policies of
different branches or departments of
government The results have shown
20 a demonstration that business sue
cess has not been fOstered or enCOur-
aged as it ought TO have been: that
the vast possibilities OF the country
for increase in wealth have not been
fully utilized. ON the contrary, in
stead of trying To bring about cooper
alton between the government and the
people in a determined effort to better
the conditions of all. there has been,
i'm a substantial degree. an open hos
tility TO business which has paralyzed
many OF its legitimate efforts. While.
as heretofore admitted. there has been
cause for complaint on the part of the
government. it is believed that few,
if any. cases have been found which
could not have been satisfactorily and
properly adjusted by personal and
friendly. though persistent. efforts
without any open or advertised hostil-
ity which was certain 10 lessen con-
ndence and 10 unfaVorably affect large
numbers in no wise connected with
the matter in question.
ITO is not intended 10 be specific nor
TO do an injustice; but included in
the terms used are speeches by men
in Office. investigations by various de-
partments ana bureaus OF govern
ment. including subOrdinates whose
services were brought into action on
special occasions by the department
Of justice, committees appointed by
congress or legislatures and grand
1uries. You who are present viii make
application Of what has been said 20
individual acts. so far as the facts
may warrant. Whether or not it is
justified. there has been a feeling on
the part OF a large portion of the peo-
pie of the United States. and also those
Of foreign countries. that there has
not been a wcll-dsfned and ore sistent
policy on the part OF the government
10 cooperate with and 10 promote the
interests OF the business man TO the
full extent reasonable. and on the
contrary that the policy OF some Of
the governmental agencies. both ma
tonal and state. in their effect. at
least. have been TO interfere with, TO
delay and obstruct natural progress:
10 punish and destroy rather than 10
regulate and encourage.
should Encourage Business
The time seems To be opportune.
first 90 geiterate that the business
nala LhrouEout the count-1 must