The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-04-26
PARR|OTT TALKS
At MANN|NGTON
GREAT OBJECTIVE is TO RE-
STORE BUSINESS TO FEASIBLE
CONDITION, SAYS CANOl'
DATE.
Speaks Of Careless investments ror'
eien Exchange. Confidence and
Sanity.

, Special to The lnt"illSenCe''
Maunington. W. Va. April "3.--The
great objective in America Is TO re-
store business TO q normal conGitl"n'
not N the same condition that OF
tanned before the world war. TOT tha'
is neither possible nor desirable. nut
a condition that is feasible Tor our
own times, Hon. James y. Parrloit OF
Moundsville. candidate for congress
from the First district. told Manning
ton KiwanianS in 4 speech before that
organization here tonight.
The principal handicap. no SAID
lis a prevailing spirit OF unrest. born
Of suspicion and lack of confidence
one in the other. This lack OF con
6drnce not ONLY affects the business
rela tions OF individuals. but OF IN" M
tons as evil 4 str-ngc paradox Oh
the situation. however. Is lonh" III
the ready investments in enterprises
that are promoted without any toun'
, dation in real values and that are
! fraudulent from their very lncePtioh'
! Unfortunately. these careless lhF"Hr
! ors are too often persons VINO can III
AFFORD to SQuandar their SAVINGS. Out
, who hope for quick and large returns
from small capital In fully 'iSh'F
percent Of these cases the invest !A'h'
IS a total loss and tho victims are
! swelling the chorus OF discomfort. FOR
| West Virginia alone il Is estimated
: that such losses total the stup@ndouS
sum o, 800. 100000 in five years.
. Definite legal proceedings against
! such fraudulent schemes have been
! too long delayed, but are taxing
shape.
! European Credits.
"But our whole business fabric IS
/ largely dependent upon lnternaIlohai
credits and the stability OF foreign
! exchange. The attempted Repatriation
! of the indebtedness OF many Euro
mean countries that We're heavy losers
! through the war has created chaos IN
their own Internal afairs and IN th'!F
business relations with other coun-
tries, With this disposition. It IS
pertinent to compare the attitude OF
America In similar crisis.
After the Revolution there sprans
I'D in this country two distinct poll
| cies with regard to our state and ma
tional obligations growing out or the
war. On the one hand were the peo-
pie who advocated the reputation OF
. all public debts. and on tho other
those men of honor and vision, led by
! Alexander Hamilton. who advocateo
! the assumption OF state war deptS Dy
the federal government and the I'M
mediate funding and finally the pay
mant Of all national debts due our
creditors at home and abroad. HIS
plan was adopted after bitter hsht'
and our credit immediately became
/ established and has never been cues
toned from that day to this.
) Not the Whole Program.
! "While confidence is 4 factor in
business, let US remember that it IS
! factor only. and not the whole pro-
: gram. We cannot ask men 10 have
confidence where confidence Is not
deserved, nor by pleading lack OF
! confidence excuse our shortcomings
both public and private. We canot
! be extraYagant in our expenditures as
! Individuals and retain the confidence
: of the banker and the merchant. we
canOt De eXtraNaSdHl III Puoi' "P
| preparations and retain the confidence
of our constituents. We cannot use
lax business methods in either pri
Yate or public affairs and restore con-
f,dence where confidence il lacking.
/ We may be generous in our dealings
! with other nations. but We must not
! be foolish. We may pride ourselves
IN our strength as nation. but must
! remember our limitation. While we
need fear no enemy from without II
We act wisely, we cannot ahoru 10
deal so lavishly rs To create dlSSrn'
sions at home. Our policy must be
sane and well balanced To command
, the confidence and respect of our
/ folks at home and our friends abroad.