The New York herald., 1921-11-18
Reds Still Undefeated.'

John J. Cornwell, formerly Gov
erpor OF West Virginia, was another
speaker, who, like the others, called
for a readjustment OF the relations be-
tween capital and labor as a prere
! quisite to industrial rehabilitation
/ Gov. Cornwell, while disclaimiug the
role of alarmist, or even pessimist
warned that the battle against radical
ism, Socialism and Communism was
not yet won.
The guests included Ylscount Elicit
Shibusawa. Bishop WiIliam 7. Manning
Kiyo Kumasaka. Japanese Consul-Gen-
eral Shintaro Ohashi, Jean l.. Duplap.
Capt. Carl T. Vogelgesang, U. 8. n. d;
Thomas A. Edison, NJ 2,Imoto, George
f. Mccoy of the Hudson Valley Cham
Der of Commerce. Fred w. Kelley of the
Albany Chamber of Commerce, Roy Nc
Came of the Rochester Chamber Of
Commerce. Frank A. Munsey. Julius
Henry Cohen, Henry l.. Stoddard. Mel
vile L. Stone a. Barton Hepburn, Eu-
genius II. Outerbridge, Alfred II. Mar
ling William Allan Dyer of the Syra-
cuse Chamber Of Commerce, Roy s.
Smith of the Albany Chamber of Com
merce, II. Parker Willis, Aras J. Will
Jams of the Utica Chamber of Com
merce and many other prominent busi-
ness and industrial executives.
Mr. Beveridge sketched some of the
and executive acts that have
produced such dires results-the Adam
son law, the Government control OF the
and the "saturnalia of mis-
that followed. He urgently
advocated the immediate repeal Of the
a damson law, passage OF the pending
railway bill, lesis.aton that will free
investing capital. repeal OF the excess
proflts tax and the adoption of sales
tax that is open and above board.
"The Plight OF Business"
Mr.. Beveridges speech on THE Plight
OF Business" was in part
THE present depression is not
transient economic phase due to an un-
happy state Of mind on the part OF
business men or the people generally
and it Is not to be improved By the
methods of college cheer leaders at
football games. on the contrary, those
infationists OF hope who tell us that
prosperity is just around the corner,
when Il is not there but far away. do
not help but positively hurt business.
Worse still, they SOW broadcast drag
on's toeth OF distrust. For when the
people 20 around the corner and fail to
find the promised prosperity, but are
again told that ia around the next cor
ner and again fail 10 find prosperity
there-when this process Is repeated
three or four times the people lose con-
fidence in everything and everybody.
Faith is killed by disappointment.
Now "a the time for plair s2esk-
Ing by men who have graduated from
ambition. Let ~ frankly know the
worst at once. We have been rather
fed up on the glad hand we need
instead a period OF brass tacks.
zone OF the Immediate causes OF the
creeping paralysis from which buslnesg
IL suffering Is the plight OF the rail.
roads.
To-day railway rates are oppressive,
railway facilities inadequate, railway
employees dissatisfied and rebellous,
railway equipment impaired. railway
capital reduced and rmperilled. Until
these conditions are bettertd ell fore
casts Of good times are the mere patter
OF politicians. the crafty wiles OF men
who have axes TO grind, or the sense
less incoherencies OF pipe dreamers.
Almost ten years ago | denounced an
the invisible government tho sway OF
those financial conspiretors who sought
60 dominate the nation. That cabal Of
cunning and avarlce has been over
thrown. But another invisible empire
has been established, aas evil and dan
perous as that Of the dethronc1 autoc-
racy Of wealth. This new assailant OF
ordered liberty aud American institutions
., thS close and closed corporation of
'hsse men who have made themselves
masters Of labor unions.
"Oreanized capital and organized labor
alike car bo made useful To all men
and helpful to the Republic; but neither
shall he permitted to oppres1 any man,
woman or child, or TO govern the Amer
lean people.
The methods~ ~by which the Adarson
law was forced on the statute books
raised an issue as vital and basic as that