The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-07-11

gent business men OF this country
earnestly opposed. men whose char
acter trusted. men whose integrity
absolutely believed in, I refer to
the Federal Reserve act, by which
we intended. and succeeded in taking
credit out OF the control of a small
number of men and making 1t avail
able to everybody who had real COM
mercial assets. and the very men who
opposed that act and opposed II con-
sctentiously now admit that IL saved
the country from ruinous panic
when the stress of war came on and
that 1t is the salvation of every aver
age business man who is in the midst
of the tides that l have been irving
TO describe,
What does that mean. gentlemen:
1t means that you can get a settled
point of view and can conscientiousIy
oppose progress IL you do not need
progress yourself. That is what II
means. am not impugning the In
telligence even of the men who on
posed these things. because the same
thing happens to every man If he ia
not of extraordinary makeup. that he
cannot see the necessity for a thing
that he does not himself need. When
you have abundant credit and control
of credit. you, of course, do not need
that the area of credit should be broad
ened. No, / say that the suspicion ia
beginning to dawn in many quarters
that the average man knows the bust
ness necessities of the country Just as
well as the extraordinary man does
believe in the ordinary man. II |
did not believe In the ordinary man,
would move out of a democracy. and
would live in 1t. The very conception
of America Is based upon the validity
of the judgments OF the average man,
and | call you to witness that there
have not been many catastrophes in
American history. l call you to wit
ness that the average judgment of the
voters of the United States have been
sound Judgments. I call you to wit
ness that this great Impulse of the
common opinion has been a lifting i'm
pulse, and not depressing impulse
What is the object of associations
like that which is gathered here to-
day. this salesmanship congress- The
moral OF It Is that a few men cannot
determine the interests Of a large body
of men. and the only way to determine
and advance them is to have rerre-
sentative assembly, chosen by them
counsel regarding them. And do you
not notice that In every great occupa-
ton In the United States there 10 be-
ginning to be that and more OF this
common counsel. and have you not
noticed that the more common counsel
you have the higher tho standards are
that are insisted upon
Il attended the other day the con-
gress of the advertising men, and their
motto is truth and fair dealing in
what you represent your business to be
and your goods to be.
II have no doubt that In every as
sociation like this the prevailing SEN
timent Is that only by the highest
standards mean the highest moral
standards--can you achieve the most
permanent. ara satisfactory business
results. Was that the prevalent CON
ception before these associations were
drawn together Have YOU not found
that the moral Judgment of the average
man steadtes the whole process and
clarifies 1t. Do you not know moro
nfter every conference with your fell
lows than you did before?
81 never went into committee OF
any kind upon any important public
matter. or private matter as far as
that Is concerned. that ] did not come
,ut with an altered Judgment and /
knowing much more about the mstter /