Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-04-30
HIGH us. Standard
PUT UP TO BUSINESS.
Delegates From 1,700 Or
PLANTATIONS Assemble fcr
C. of C. Sessions.

business eminence is attained ana
the spirit in which wealth and power
and influence are used.
Referring to the problems that press
upon the business world today, such as
the protective tariff. taxation, Govern
,nent regulation and financial reform,
Mr.. Barnes warned that these prob
lens cannot be solved in Washington
alone" but by an enlightened and I'M
selfish local leadership" as well as by
discussion "crystallized into great
Cross-section of American public opn-
ion"
In Government regulation. he pointed
out. the only spirit which can be JUS
tilted is that of fairness and the equal
chance.
I'VE want a minimum OF bureaus, a
scarcity of gold lace and red tape. ne
declared. we greatly need in leglS-
1ative circles representatives VINO reaIlze
that. among this people of adequate
buying power. it is far more important
IN stimulate the extension and develop
rnent of all our industries than 1t is 10
save a fraction in the kilowatt rate at
the risk of sitting confident ventures
into enterprises
$50 also in legislative and admins
1rative regulation of our great arteries
of commerce we need ability ana VISION
devoted to the solution OF new problems
of communication. ,,.
Mr.. Elijah, who described hlmSeH
as IAN ordinary dirt farmer'-not as
a doctor for agricultural Ills, put as
Datient--listed the farmers most press
ING nroblems as instability of prices,
credit system unSulted 10 agriculture
and burdensone taxes.
Farmers could not control their next
years production, he asserted even
"if it we're possible for all the farmers
of the United States to get together
1,nder one roof and each one accept
cheerfullv the ALLEGATION for his next
wears production" With a known
acreage. he said, the yield may vary
as much as 40 per cent from the aver
age of a previous term of 10 years.
Must Borrow on Investment.
Agriculture must borrow money on
4ha amount of capital invested, Mr..
Elijah said. while industry borrows on
the profits it is able to earn.
Holding that this Nation is primarily
agricultural" he predicted that unless
agriculture is made to feel that IL Is
Getting its share of the Nation S pros
Derity. then the Middle West VIII Try
following another political band wagon.
"Especially will this be true" he salo'
aft the new wagon is water wagon
too. 1t may be drawn by donkey.
No halfway measures-"no SUBSIDY OF
other palliative"-will Suftlce, ne oe-
clared, insisting that the agricultural
: industry must be CONSIDERED from tne
standpoint of each of its products, as
well as the industry as Whoie.
Mr. Elijah did not know what legis-
1ation Congress would pass nor what
the effect of the legislation would pc
on agriculture. but he urged that until
IL has been given fair trial or untl
YOU have something better to suggest.
we, as farmers, bespeak from you SYM
pathetic attitude"
Directors of the chamber for the
coming two years were nominated by
the national council after a day OF
baIloting yesterday afternoon and the
slate will be ratified Friday.
Those named were:
Leonard S. Horner, president; Niles
Bement Pond Co., New Haven, Conn;
Lamont Dupont, president, Z. l. Du-
pont de Nemours & Co., wilmington,
Del: E. ASbury Davis, president, Neu-
decker Tobacco Co.. Baltimore: WI
liam Gambler, vice president Atlanta
Biltmore Co., Atlanta; P. w. Litch-
feld. president, Goodyear Tire g. Rub
Der Co, Akron, Ohio; John H. Cam
lin. ]. H. Camlin Co., Rockford, Ill. :;
Walter l.. Cherry, president, Cherry
Burrel Co., Cedar Rapids. Iowa;
Harry A. Black, president, Black Hard
ware Co., Galveston. Tex; George w.
Holmes. president, First National Bank,
Lincoln, Nebr; Everett G.. Griggs,
president, st. Paul g. Tacoma Lumber
Co, Tacoma, Wash; Charles w. Ions
dale, president, Simonds Shields Ions
Tnh n
Ion5dale, president, National Bank OF
Commerce. st. Louis; H. M. Gilbert,
president Richey g. Gilbert Co., Yaki-
ma, Wash; G. A. Ludlum, vice preSi-
dent, the Home Insurance Co., New
York City; A. w. Robertson, chair
man. Westinghouse Electric g. Manu-
featuring Co.. East Pittsburgh; Francis
E. Hamper Atlanta; Matthew S. Sloan,
president, New York Edison Co., New
York.
Reserve Board Defended.
A defense of the Federal Reserve
Boards policy in curbing Wall Street
speculation and opportunities for trade
with European colonies were outlined
in addresses at the dinner of the Amer
lean section of the International Cham
Der of Commerce last night at the May
flower Hotel
Thomas w. Lamont, the chairman
sent a message from Paris, where he is
attending the sessions of the new
PREPARATIONS committee, which was read
by Julius H. Barnes, vice chairman
who presided.
Americas interests have become
world wide" Mr.. Lamont'S message de-
clsred. land the solution of any diff
cult problem in the field of economics
or finance, even though having to dc
primarily with European countries, Is
bound to command the keen interest
of American business men,"
Addresses last night were made by
Mr. Barnes. John Foster Dulles, attor-
ney and industrialiSt of New York, anC
DIR. Julius Klein, who was confirmed by
the Senate yesterday as Assistant Sec
rotary OF Commerce.
Mr. Dulles blamed speculation for the
present monetary conditions. and as
serted that the Federal Reserve Board:
policies should not be Judged by any
passing phase, but by results over 9
considerable period"
Recalling that the board had beer
successful in preventing the realization
of the gloomy forecasts of 1919" HI
warned that "a speculative mania has
threatened TO sweep the land. of such
P1cpOAllOiAo tlAdb GllCChCd ~ VIII
make it impossible for our central bank.
ing authority to maintain the none,
conditions which our broad nationa
interests require.
Success Brings Danger.
''The success of the past brings dan
ger for the future because the genera
initiation of the value of common stock
during recent years has been so con
slant that it has attracted the atten
ton of virtually the whole world, AM
has induced a speculative moyemen
marked by the abandonment of quic
appreciation of principal through Stoc
operations.
Obviously. this situation cannot Ion
continue without collapse, which wi
mean the realization of the danger