Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-10
BANKERS PRAISE WILSON
FOR GREAT EFFICIENCY
Resolutions Commend Efforts 20 Oh.
tain Modification of Cotton
Orders.
TAFT DISCUSSES
REFORMS
Radical Attempts, He Says, Fail OF
Their Purpose, Causing Nation to
Halt in Progress-Now Must BE
Retracing Line OF Moderation.

ment were commended in resolutions
adopted to-day by the American
Bankers Association for their efforts
TO obtain a modification OF the cot
ton contraband orders by bcliigercnt
powers.
The resolutions state that the recent
contra band declarations threaten to
affect seriously the marketing of tho
cotton crop. They praise President
Wilson for "commendablc zeal and
great efficiency in warding off impend-
ing calamities."
Former President Taft to-day told
the bankers in an address that prac-
| tically all OF the radical reforms at
tempted in connection with politics.
railroads and big business" had failed
OF their purpose. causing the nation
to halt In its progress. and that there
must now be a "retracinG to the line Of
moderation and Justice"
In giving an economic and political
summary OF the generation just clos
ing" Mr.. Taft satd that the latest out
standing feature appeared to be the
widespread growth of the spirit OF the
brotherhood Of man. despite the fact
that the war had shattered tho dreams
of universal peace.
In his opening remarks. Mr. Taft
outlined the growth of large combi-
nations in business. their successful
adoption to politics and how the chase
for the dollar had absorbed all the
people unt.! they suddenly realized they
were almost in the grasp Of a pluto
Rcracy. II was then that agitation for
reforms swept the country, he said,
ard public indignation became acute.
The leTiathan of the people cannot
be stirred TO such action as has been
taken and atop short at the line Of
moderation" said Mr.. TAFT. The hos
atty Of Legislatures and Congress
came 10 be directed against all sue
eesstul investment of capital without,
Discrimination. Nothing is 50 ti-nid as
capital and nothing Is so easily able
take care OF what IL has"
"AGE-EARNERS SUFFER MOST
IN DEPLORABLE FEATURE
He then said that deplora BILE feature
'f suon excess of remedy was that the
"age-earners suffered most
The close and absolute SUPERVISION
over the management OF railroads. ="
aid Mr.. Taft, and the restriction upon
he rates charged ny them in interstate
commerce and in commerce within
states. together with the increase in
'ost Of maintenance and Of wages
through the efforts Of labor unions. has
round tho railroads between the upner
nd neither mil!stones. All this in 10
ne detriment OF the business OF the
ountry. and especially 10 the comfort
no happiness OF the waCe-earners de-
endcnt on normal business and noruoa
emand for labor
We are all in tho same boat. The
rosperi'y OF one class is dependent on
ne prosperity OF all This is no rea
on why we should not repress injus-
Ice and punish abuse of power But
is reason why We should not in
ulGe in excess
We must promptly grant increased
ates 70 the railroads when conditions
equ'Fe II. We must not allow the
unaeeons Injustice TO continue by
'h'ch We inaugurate the real reform
parcel post. and do Il at the cost of
1e railroads by compelling them 70
airy the enormous increase Of ,-,nc
or nothing we should repeal the
ill-orew bills that impose upon the
tilroads the burden employing unne-
=ssary labor. In curing these excuses
lere is no reason why we should nor
sthin the real progress VIC have made
dethroning plutocracy"
Mr.. tart said that conditions idenri-
II with those affecting the railroads
ere TO be found in all lines OF bust
ess where large combinations of in
sstment have been made.
another most important develop
ent IN this country has been an at
OK upon our representative system
government as a cause OF the cor-
orate and corrupt control OF politics
was said that the system involved
re selection of agents By the peonle
act FOR them in executive and leCis-
i've work who too often proved faith
IS. and that the only method of carry
- on the government safely was 70
spense with legislative agents and
the people legislate directly.
iNovATIONS PROVE
ISWISDoM OF CHANGES
"A st formidable wave of public
III In FAVOR OF such a change swept
country and found expression in the
itiatire and the referendum After a
udy of the working OF these innova
ons, do not hesitate to say that II
owes the unwisdom OF such changes
1t be true that a people have not
lorna ton and intelligence to select
ON their own number competent and
nest agents to do their work they
rtalnly nave not the capacity TO per-
rni the much more difficult task Of
80 ssing useful Judgment on statutes.
equently difficult to construe or un-
rstand Again. the duty imposed
'oh the people In legisating by initia-
re ana referendum is so much more
r"ehsome than that imposed by the
eSeh'atiFe system in selecting
GINS 20 DO this work that the ma
ny Oh the voters too frequently re-
sc 10 perform their electoral duties
Inc institution of recall deals with
executive and judicial branches Of
government With both it's opera
m is Injurious to the public service
ough in the case Of Judges IL is much
IRE dangerous.
III an executive officer is dishonest
can, In effect. be recalled by i'm
achment or by criminal 1rial 80,