Evening star., 1924-08-29
F|NANC|ERS WANT
COOLIDGE ELECTED
Wall Street Not Opposed to
Davis, But Satisfied at
Presidents Record.
BY DAVID LAWRENCE.

NEW YORK. August 29.-What do
the men in the heart of the financial
district of America really think about
the Forthcoming election to the presi
dency?
Talks with some of the leading
men in 1.-The Street" bring out first
of all that the big business people
want Calvin Coolidge and Charles q.
Dawes to be elected so that there
will be no change in the existing at
titude of the administration toward
business.
Conservation hereabouts no longer
means endorsement of candidates
who will give special privileges, but
keeping in power men who will not
disturb things. Business is not after
something SO much as it wishes to be
let alone.
When John W. Davis was nomi
mated by the Democrats, it was
promptly assumed that because he
was once attorney for J. +. Morgan
and Company, he would have the
whole hearted support of the finan-
cial community. But while there are
individuals here and there who will
vote for him, Calvin Coolidge will get
the Wall Street vote with ease.
Uncertain OF Davis.
1t isn't so much that the Street
dislikes Davis for it admires his fine
qualities of mind. but as one finan-
cfcr put it we are sure of what Cool
idSe will do because we know his
record but we don't know what Davis
would do. He chose Gov. Bryan of
Nebraska to run with him. Any one
who will do that may do other things.
We are not certain of him"
Unquestionably the linking up of
Gov. Bryan and John w. Davis has
hurt the national ticket with Wall
Street. This is all the more curious
because it was William Jennings Bryan
himself who was objecting to Davis
before the Madison Square convention
on the ground that he would be Wall
Streets candidate. When the speech
of acceptance of John w Davis was
digested and it WAS apparent that
Davis had stood on the Democratic
Platform, the financial interests aban-
doned Davis. They do not exactly
condemn the Democratic platform as
radical or socialistic, for they reserve
those terms mostly for La Toilette and
his platform, but they do say the
Democratic platform permits of radical
interpretations. and is so phrased that
it can be used to disturb Wall Streets
affairs.
For instance, in the matter of
freight rates. Wall Street feels, of
course. that the farmer should be
helped, but would view with alarm any
reduction in freight rates that would
disturb the earning power of the rail-
roads. Davis first statement that he
thought way could be found to cut
freight rates made Wall Street trifie
uneasy.
BY and large the street" is not ex-
cited about the election. 1t is August
and of course, many of the leaders
are awav. Those who are here re-
fleet accurately the feeling Of the
communit,. They want the status
quo. They like Coolidge because he
does not tear things up. As yet "the
Street has not become perturbed over
La Toilette and the possibility that
the election will be thrown into the
House of Representatives for deci-
sion, although it is one of the most
commonly discussed topics at the
luncheon table. 1t looks as if there
may be an election scare on this
point later on, for the friends of John
W. Davis as we'll as President Cool
idge are undoubtedly using ii as a
weapon to win support and assist
ance. Wall Street would be seri-
ously disturbed if the election were
indecisive. for any period of uncer-
tainty is looked upon as hurting bus
mess. The solicitors for campaign
funds are likely to paint gloomy pic
lures about that in order to gain
support.
1t is significant that most of the big
men in Wall street have not been ap-
preached for funds to help the cam
paign. The financiers are somewhat
chary of campaign contributions,
especially after the recent series of
The more they think
Coolidge will be elected the less they
feel inclined to risk notoriety by con-
tributing money, and it appears now
as if the campaign will not get as
much money from Wall Street as in
previous years, though. to be sure,
this is only August and the cries of
distress from the politicians are not
set up as a rule till the last two
weeks in October.