Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1915-03-30
AN UNHOLY ALLIANCE

One of the most prominent manufacturers in the middle west recently
oppressed the opinion that the only obstacle to American prosperity was
the senseless pessimism of Wall street
How senseless this pesimism is may be inferred from a Statement
credited to President Thomas OF the Lehigh Valley railroad, who was
The continued prosperity o. the United States depends almost II
trely upon what is done in Washington.
II would authorize a n expenditure OF sloIooUO tomorrow II Inc
situation in Washington "a clear.
"But the uncertainty of which speak meal that we must with
hold this S1oOooOoO expenditure for al indefinite period"
At the very time that Mr. Thomas was pouring forth this tale OF
woe, the Lehigh Valley railroad was advertising a quarterly dividend of
2H per cent n its common stock and 2H per cent o it's preferred
stock. A railroad that is paying 10 per cent dividends is lot starving to
death whatever the situation in Washington" may be.
There is n o situation in Washington that is hostile to business
There hs bee no other tune IN ten ears IN "hsh mere was SO nS
crusadng against business pr in which business had SC little to fear
from politics There has been n o time in ten years in which Legitimate
business could face the future with 50 little uncertainty. Yet wan
street continues to talk calamity. think calamity and dream calamity.
When it might be making New York the financial center of the world, it
spends its time in eonspring against ar administration that cannot o
bought or buIied.
it can hog it all, and that the typical Wall street bankers idea of pros
perity is 6 per cent for loans, with ) per cent commission and 81 per
cent of the common stock as bonus.
Wall streets days of exploitation and gambling prosperity are done
for. There will be n % return to the period when the New York bankers
milk. The dream OF a revival Of Hannaim, which is noted by the WASH
ington correspondent Of the World, is only a dream. 1t will never
materiaize.
We have n 0 doubt that the reactionary Republican leaders are ready
TO sell their party nut to Wall street again. They are all giving full
government is anything to-beatWHson. But thar sort of thing ca be
easily overdone, and if the country is willing to throw away all the
trys standard OF intelligence IS much lower than we ha er IA cas-
on tic believe.
The Wilson administration is not warning OF business, but business
is warning Q n the Wilson administration in an attempt to stampede the
American people oack to Hannaism. When the government at Wash
ington is confronted by the most delicate and perp1exing problems tina,
have beset any administration STAG Lmcons n n country itself IS
distracted by the disturbing consequences of the greatest war in history,
plutocracy thinks it sees a chance to re-esabish itself again in Wash
ington fcr another reign OF dollar despotism.
IF Wall street is not willing to accept the very reasonable restric-
tions to which business has been subjected and to keep step with the
march OF progressive legislation, n thing Is certain. Its next great
antagonist will not be the Democratic party but 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.