Evening star., 1920-10-21


profit. 1t is the theme Of the agt-
tator. and is used as justification for
various unfair exactiona whicn ~ ).
put upon business. We are quite
ready to complain in the pubic IN IN
Inadequate production for 1alr
wage. Let US do all we can to cor
rect our own misdemeanors ana theil
. our voice of protest will have larger
influence in correcting those Oh
others.
Mr.. De Frees told the delegates that
business should adopt an ADVISORY
position, rather than dictator1al at
titude, in dealing with the govern
ment. He said most members OF Con-
gress were willing to receive fnfor-
nation gathered by organizations
which had made study of particu-
lar questins, but that they deeply
resented action by ANYBODY wnlcn
savored of a demand. The average
yield to demands, but is anxious to
render a service where he is shown
that beneficial results may be oo-
tanned.
Few legislators will heed such de-
mands," he added, because 1t Is VI
cious in principle. 1t has come to be
recognized that such threats haye MT
tie effect at election time. with prope,
publicity more votes Will De chans eu
in opposition to the man who yleios 70
threats Indn Will pc ShohS>
favor by his cowardly acton.
Hfrsch Pleads for Farmers
Bankers can and should aid farm =.
ers by assisting in the establishment
of cooperative warehousing and sell
ing organizations. Chairman Joseph
Hirsch of the agricultural commission
of the association declared, in pre-
senting the report OF the coinih'Ssioi'
to the convention.
MANY of us have been fearful OF
entering the field of marketing, pe-
cause in doing this we nave oeen
afraid we would come in conflict with
our own customers the middienen,.: y: !.
the report said. But 1t Is hlgh time
for the bankers of the country to real.
iZe that more economical metnoo u
distributing our food products is ap.
solutely essential to the success OF
American agriculture: that unless
farmers can produce and sell their
crops with some reasonable assurance
Of a fair profit, there will be an IN
creasing tide Of men drifting from the
farms to the cities.
The report urged bankers to sup
port appropriations for larger pay 70
experts employed by the Department
of Agriculture. and suggested that
state conferences of bankers and
farmers be held to enlist cooperation
in agricultural development.
many mistakes must be corrected II
the United States is to return 70 lts
previous financial stability and pros
perity, Sol Wexler Of ]. S. Bache &
Co. of New York said in an ADDRESS:
The most pressing and important OF
these questions were denneo py MT.
Wexler as follows:
Changes Needed for Prosperity.
Complete revision of present tax
laws, so that industry and initiative
is not destroyed and business bank
rupted.
Restoration of the price Of liberty
bonds to more nearly the price ae
which they were issued.
.Establishment Of an intelligent and
competent consular service in for
eign countries to assist American ex-
'.The passing of anti-sedition laws.
SO that those who do not favor our
agitate the public mind in the direc-
ton of violence and disorder can be
placed where they can do no harm.
I'VE must urge busfnesslike and
economical administration OF govern
mental functions. rehabilitate our
and live up to a budget Of expenditure.
I'VE must educate the public on the
subject Of what q money center (so-
called wall street') really means.
and how necessary such center ID
to the security Of funds necessary for
the carrying on and development OF
the country as whole"
A three-year thrift campaign to
reach every family In the country that
has no bank account was proposed TO
the association by its committee on
public and private thrift As . part
of the campaign, government ofAeiais
would be called upcn to prActtce ut
most economy 10 as to reduce thu 1ex-
penditures Of the federal government:
"The recent orgy OF extfavAgAn0e."
indicated very clearly tho need for
more popular realisation Of the need
for saving when and As the oppor-
tunity presents itself. The time q at
hand when thrift and aavt11yaIi3kbe be
regarded as not only possibHteSs. but
actual nece6sities.r
Bangs Cheers UD DeleSsfes. :,
Taking as his theme .1ncorfasibls
Optimism" John Kendriek Bangs
audience when he supplemented his
remarks by saying he would discuss
America abfoad-not America 1t sea,
which I must say would be the cASe
If discussed America at home."
He paid high tribute to the mother
hood Of the country, and related his
experiences with the American Army
in the great war, saying that ne more
human, lovable, liberty-loving set Of
men ever fought under the nag Of any
country on earth.
Federal aid to states. to localities
and to individuals should be actively
opposed by all financial and busin ess
interests which are favoring effective
budget systems for federal and state
governments" said W. A. Sadd. vice
president of the savings bank sec
ton. in presenting his report az
chairman of the sections COMMITTEES
on federal legislation. He continued:
Pleads for Budget System.
"The American Bankers Associa-
tion and all business interests are
unanimous as to the need Of SCI
entific budget system in order to re-
duce the burden resting upon tax
payers.
all possible benefits from budget con-
troll are destroyed by the adoption
of federal aid methods.
I'm the first place. they pre-sup-
pose the development OF q federal
bureaucracy on such lines that ap-
propriations must inevitably increase,
quite regardless Of benefits received.
The distribution Of the federal funds
would directly develop such political
support in states and communities
as to destroy all prospects for legis-
lative check and at the same time
offer no assurance Of efficiency.
PRESIDENT is ASKED
TO RECREATE WAR BOARD