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Show PRESENT ADMINISTRATION HAS INJURED THE COUNTRY. Hearst s Magazine for May asks the question, What's the matter with business, and then proceeds to give the following answer: W e need prosperity. And we can have it II Washington .--tops trying to throw our business macrttnery needlessly need-lessly out of gear This month or May should prove the turning-point It will bring decishe developments one way or the other, developments that will spell either disaster or prosperity. pros-perity. "The prospects favor the latter. "But Washington holds the keys and can unlock either door at will. "It is unthinkable, yet nothing but acute depression, nation-wide unemployment, unem-ployment, wholesale railroad and commercial com-mercial failures, and gcueral discontent, discon-tent, would be precipitated by a refusal re-fusal to allow the railroads to increase in-crease freight rates, by the passage of the wholly Impossible anti-business bills in anything like their original shape, by a continuance of senseless attacks on railroad and industrial organizations or-ganizations with a view to dismembering dismem-bering them notwithstanding entire lack of public demand or sound reason rea-son for such a course, nnd by political po-litical maneuvering with the new currency cur-rency system by thp Federal Reserve Board with a view to 'punishing' New York financial Interests the politicians politi-cians who drew up the list of reserve bank cities did their worst, but this may be undone by wiser hands. "Railroads have suffered as never before, commercial failures have ben lamentably heavy, unemployment has occasioned widespread suffering, manv Industries havs languished, our foreign for-eign trade has not expanded but has receded, building has slackened, investors in-vestors have suffered very seriously. Europeans have been frightened Into selling scores of millions of our securities, se-curities, attacks upon corporations have not helped to lower prices to consumers Altogether, America has not been happy and prosperous. "Glance at these figures for Febru-arv Febru-arv of this year and Februarv. 1918 1314 1013 Fig iron output, tons . . 1.1SS.313 2,530.337 Unfilled it rders U.S. S t e el C c rp., tons 5026(440 7.6o6.7H Idle rail-r rail-r o a d trcight ears . . 197 n:,j !2,183 Building Build-ing permits. per-mits. 7 ft Miie? 541,323,570 54b.526.1ji Kailroad ( Jan. cross 1233.074,000 1249.9(9,000 Net .. $52,749,900 $tj&, 201,400 F oreign trade s mos.. $1.217. '9ii,00t) $1.246. 39iUH.(i Ba n k 1 e. ar- ings 512.S9U 62M0H $1 3.639. 4u0 lino "What, meanwhile, has happened to i hose who had faith enough in America Ameri-ca to invest savings in our securi ties? "Tables have been compiled for this article showing that, from the high quotations of last year the shares of twenty-six companies, with total capi-la! capi-la! of $4 no:., 740, 300 listed on the Nevv York Stock Exchange had, up to th beginning of April, fallen in market value the staggering sum of $712, 803.655. "These shares are not in the hands of a few rich people, as some may erroneously suppose, but are owneo by 4r.7 13." stockholders "Moreover, the market value ol twenty-four representative bond issues has declined no less than $101,888,000 "It is a noteworthy fact that approximately ap-proximately half the shareholders in corporations that supply detailed fit; urea are women. The Pennsyhanu Railroad, American Sugar Refining t'ompany, the New Haven Railroan and similar old established companies are in this category When anything Is done to hurt bonds and stocks, the foundation for large-scale business, every man, worn an and child is affected "Naturally, a business organization that Is harassed and upset cannot give employment to as many people as '.i would require were it allowed to grow and prosper. The railroads have some 1.700,000 employees In normal times, but. owing to the innumerable difficulties diffi-culties heaped upon them during re cent years, they have, wherever possible, pos-sible, laid men off From official statements supplied by the presidents of the principal railroads it is estimated esti-mated that upwards of 250,000 employees em-ployees have been discharged the Pennsylvania Railroad has had to let nearly 40.000 go and the New York Central some 30.000." The foregoing is a severe indictment indict-ment of the administration, coming as it does from a Democratic source, and proves the inability of Presiden' Wilson and his advisers to do the right thing at the right time. The head of the government Is a theorist and that is his great weakness. He does not understand the large problems prob-lems of government from actual touch with big business, and prefers the advice of men not in business to those who know by actual experience the needs of the Industries of the country. coun-try. The figures on the heavy depreciation deprecia-tion in securities is the best evidence presentable of Democratic stupidity in guidiug the destinies of the country. coun-try. . . rr |