Mohave County miner and our mineral wealth., 1922-11-10
Nlnrnk Famous |lD on Business Conditions

In our lnCefVleW Wltl noSch w. D'o son, the question of what effect the l Congressional elections will have up On business, brought from him the following statement:
 "I see one interesting issue in the Congressional elections, namely, the numper of new radical members sent to Congress. Those of us in the East do not understand the viewpoint of cur western people, hence few are awake to the great change which is coming about in. our political line up. Turnout the present generation, the contest has been between the Republi- cans and Democrats. The days of this alignment, however, are number ed. Both of the old parties have sui fered extensive changes. At least by
 1928, and perhaps in 1924, real con-
 test may be waged between the so- called Conservatives on the one side,
 and the so-called Radicals on the other. '..
 By Radical l do not refer to the I. w. ,W.:s or any group commonly known as Bolshivists. The new Radi-
 cal party will be more like the Bull Moose party of 1916. The Conserva-
 tive group will represent combina-
 tion of both Republicans and Demo-
 crats who are opposed to the extreme
 measures of the other group. The
 elections tomorrow will serve to show
 to what extent this new alignment is
 taking shape. ',
 "As to the immediate effects of the
 elections they should not be important unless the Republican majority in
 Congress should be oyerthrown. do
 not, however, expect such an event.
 After alp, continued, MT. BabSon,
 "most of us business men worry a
 great deal more over politics than we
 should. Everybody today is looking to Washington for a present. Nine tenths of all the important bills be-
 fore Congress this year were designed
 to help some one group-usually at
 the expense of the others. Farmer and labor demands, railroad financing
 state roads, soldiers bonus and the
 tariff fight are a few examples. This stampede to the Government for as- sistance is one of the pestilences which always follow war. The same mania developed after the Civil War. From 1865 to 1870 bankers and busi- ness men spent more energy lobbying
 in Congress than developing their own business. The Government must mix into business in war time; it is hard
 to get out of it after the war is over. Eventually people will realize that you can't take out of the Government more than you put into it. For the present, however, the situation pre-
 sents a serious danger-not to those ) whosfail to get assistance, but to those E who succeed! .... ... '.u "Any growth founded upon so tickle , a basis as government favor must be precarious. The industries and the in-
 dividual companies which are really 2 good investments will be able to fight ' their way thru without having to de- pend upon exhorbitant tariffs or gov l. ernment capital They may have hard : sledding for while, but when the de- - pression is over they will control the
 field. While others are building up e influence at Washington, they are e building organizations at home. At e the time it may seem as if the con. j. cerns which get the most protection e or assistance from Washington are IS the winners, but their advantage is
 only temporary. Instead of trying te % pick the companies which get the most n assistance from the Government, in vestors should look for the companies Is which can get along with the least! 70 This factor marks sharp distinc
 ton between the railroads today. Un n- der the Esch- -Cummins law the road! to have the privilege of calling upon thu Government for assistance in their fl
 nancing. Many investors have looked m upon this as a favorable argument lg You will notice however, that thu $. railroads which stand best on the quo
 tation board have very few govern CT ment obligations" in their balance al sheets. The only kind of a keg t. ne put your money into is one that wil
 stand on it's own bottom. Perhap ay the others will come out all right, bu O. the railroads in which am intereste' s. are now adopting efficient bushes
 methods instead of depending upol
 Government aid. In choosing railroa
 securities, my advice is to let someon
 else speculate as to what the Govern ' ment will or won't do.
 <, "The same applies to individual SC
 curities. At the moment every on
 is much exercised over the new tarif = SSa,,aa ;a ad,, c4ss;<,e. ha.ro cacal,