The Birmingham age-herald., 1916-06-16
DAWSON'S VIEWS REFLECT OPINION OF THE F|NANC|ERS Many of Them, However, Look With Favor on
 President Wilson
HUGHES INTELLECT
 IS ADMIRED BY ALL
Wall Street Will Ever Be Grateful to Wilson for His Part in Securing
 the Federal Reserve Law
By HOLLAND


 P Davison, in a paragraph character istically concise and brief compacts what appears to be the prevailing view in the financial district of the presidential out look, expecting that it is not the view of those who favor the reelection of Pres ident Wilson. Mr. Davison believes that thorough cooperation is to be established between the republican and the progress sive parties and that if it is established 1t will be likely to defeat President Wilson in the November election. Mir Davison also said a word or two of Col onel Roosevelt, asserting that the latter's action means much not only to the United States, but to the world at large It reveals patriotism of the highest qual- ity
 While, of course, the overwhelming fi- nancial and commercial interest occa- stoned by the European war and the great wave of prosperity which now GOV CTS the entire United States compels ab- sorbing interest among the leaders in the financial district, nevertheless they do turn aside for a moment or two to speak of presidential politics.
 There appears to have been some change of political opinion in the finan- ciai district since the campaign of 1912. Many of the leaders at that time warmly favored the election of Governor Wood row Wilson for President. The friction which caused cleavage in the republican party four years ago also seriously split the republicans of the financial district Something like apathy prevailed there
 
 garded it as sure as anything in politics could be that Governor Wilson of New Jersey would be chosen President of the United States.
 Although there does not appear now to be quite as visible a sentiment in fa- vor of President Wilson's reelection as prevailed four years ago, nevertheless mention is always made of his pre-emi- nent service in persuading Congress to enact legislation which created our mod ernized banking system and the federal reserve bank.
 The leaders in internal tional financing have often said that the fortunate estab- lishment of the federal reserve board and by remarkable coincidence few weeks after the beginning of the European war
 
 system have done more than any other influence to enable American fnanciers and the banking world of the United States to meet successfully the new and absolutely original problem which the war developed.
 ROOSEVELT AND FINANCE
 For year and half a change has been observed in the attitude of many of the leaders in the financial district toward Colonel Roosevelt It was strik- lngly manifested when Frank A. Wander lip, president of the National City bank, which is the banking representative of the Standard Oil company, spoke for pub lication few days ago in favor of the nomination of Colonel Roosevelt by the republicans. So it has been asked who would have ventured the prediction four years ago that the great forces of the Standard Oil company would be found In 1916 recommending the nomination of Coolnel Roosevelt by the republicans?
 If Colonel Roosevelt should hear, as he undoubtedly will, what the leaders in the financial district are saying about what they call his patriotic action last week, these comments should perhaps compensate to some extent for whatever disappointment he may have had, if any, In the results at Chicago. VI 14N1O4No UT
 Lawyers in the financial district have nothing but praise for the professional and intellectual qualifications of Former Justice Charles E. Hughes. There was however, considerable doubt until the day of the nomination whether or not Justice Hughes would accept the nomination. His professional brothers in New York knew that his place upon the bench of the su- preme court was most satisfactory to ia1 n h fnp t,l we'll as to his intellectual qualities.
 One of the remarks commonly made when Mir Hughes mental capacities are Under discussion is that he possesses an unusual power for very clear thinking as well as a remarkable gift for expressing even abstruse thoughts in concise, per- fectly clear and very felicitous English speech. There has been no President ex- cepting Lincoln whose mental capacities surpaSS or even equal those of Mr. Hughes in this respect
 A JUDICIAL OPINION
 The late John Clinton Gray, who was for many years associate justice of the court of appeals at Albany, said at the time of Governor Hughes appointment by President Taft as associate justice of the supreme court at Washington that no lawyer had ever argued before the court of appeals more effectively than Governor Hughes when he was in active practice was accustomed to argue. His legal ex- positions were marvels of clearness and might be studied good examples of lucid expression of abstract thought. It seemed, however, to Justice Gray that if Hughes had any weakness, Intellectually or professionally, it was his over-ela bora tion of minor points at issue so tha. in his arguments these appeared to be of as