The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1917-12-26

/
subscriptions to the liberty loan.
| Furthermore Mr.. Hawk said that his
| recent experience as a bank director and
! his association with the leading bankers
| of New York have made it clear to him
| that the banks are now taking all rea-
| sonable care of their customers, not
seeking new business, but protecting
their customers who are merchants,
manufacturers or engaged in other BUSH
ness.
A NOTE OF PESSIMISM
Nevertheless every day a note of pessi-
mism is heard, and the suggestion of the
anxiety respecting the outcome of the
war is noticeable, especially among the
merchants who carry on business in
small shops. Furthermore, upon the
East Side of the city a strong socialistic
element has been developed and that is
especially noticeable among the women,
many of whom will vote at the next
election.
Every time the market reports show
a depreciation in the quotations tor for
eign securities many persons who are in
vestors get frightened and go about
whispering to their friends that the sit
uation looks very dark. Their apprehen-
sion is that Germany is going to win,
and then they query, what viii become
OF the securities Americans have bought?
Nothing of this kind is noticeable i'll the
NCSi vi III lHS SOullly anu IiOln lilC
northwest, especially the Minneapolis
district, all of the reports tell of The
prevalence of loyalty and enthusiasm
and the sense of duty which is upon ev-
eryone to give full support to the gov
eminent at this time.
Some of the pessimism goes SO far that
pains are taken to make the President
aware of it. Mr.. Hawk spoke of case
which had come to his knowledge since
his return from the west. A business
man who is an investor and who should
have had experience enough in making
his fortune to realize that there are times
when courage and faith are necessary,
became so pessimistic that he deter
mined to write to President Wilson set
ting forth his views upon the situation.
He did write a gloomy letter, He told
the President that unless the govern
ment came to the aid of the railroads,
guaranteeing sufficient income to pro-
tect those who are holders of shares or
of bonds, then within year or two some
of the insurance companies Will be
bankrupted and many of the savings
banks will find themselves in a depor-
able condition.
What this man ventured to write
President Wilson, others have been say
ing one to another. The small shopkeep-
ers are beginning to complain that
Frank A. Vanderlip and others, in their
advocacy of strict and severe economy,
have SO influenced customers that these
shops are doing little or no business
New York is a cosmopolitan city and
many of those who dwell or do business
in the city look upon affairs exclusively
from the point of view of money. This
is not true of the bankers of most of
the successful business men, but it does
reem to be true of a certain class in
New York city In this respect New
York differs from any other large COM
munity in the United Safes. If at first
those who dwell in the west were not so
quick to appreciate all chat our entrance
into the war meant as were many of
those who live in the east now the west
and the south surpass some parts of the
east in their understanding of what the
war means. Mr.. Hawk found the keenest
appreciation of the meaning of the war
in Pittsburg, Cincinnati, and ST. Louis
He did not visit Chicago, but heard re-
ports of sentiment there of like tenor.
So also similar reports were received by
him while he was in the west from men
who are of influence in the south and
who as whole represented the entire
south.