Show ft f. f The e Scepter o of Finance newspapers seem seen to ns agree that no Colossus Pill A AMERICAN ever or again bestride finance us og did that towering figure I no now N t laid so 56 low ow Two varying r ring ing reasons seem to inspire that observation 1 one being that T remedial med nl legislation will vi prevent pre and th the th theother e other that at the the g gov government eventually e will n assume the tho duties di dis charged charge d b by Mr r. r Morgans Morgan's s r group of fi financiers that tho the control l t to tobe be exercised in the future will bo be official instead of by private The latter opinion was voiced in this column following persons s. s Mr fr Morgan's Morgans organ 6 death and amI it is IS generally held by most mOlt of the th g great teat newspapers o of the country O l j The Tho control w wInch which Mr r. r Morgan organ as the keystone of a great grent coterie of f financiers swayed over o American finance was an evil perhaps i but it was necessary Tasks that must bo be done will eventually get themselves done in ill one way or another If organized society fails i le authority certain duties that b t must to delegate i iLc to some somo r responsible slon be Lc performed the thc mission will be be undertaken by self self- self constituted and d unofficial agencies s Finance will WIn stand together when panic about influential its ite threatens it will wilI group itself some Borne power as l loader leader If TI goV government furnishes that leader by statutory enactment w well ehl and good if it does docs not the tho man of the hour will arise arise and he will in time become another Morgan The financing of great enterprises and the floating of bonds must be conducted along certain n well defined lines that all nIl must follow There will bo be no return to tho the unsound banking methods methods' of OL the past The formulation of rules Tule cannot be wholly abandoned to individuals there must bo coherency in in f framing taming them than and adhesion to th them m by all They must bo be either through a strong trong band of fi financial captains grouped about a n powerful leader lender or r established q by y statute an and operated d through the regular channels channel of f government o The latter is 18 essentially the only course for a a fr free o people failure to follow it t. t will twill ill create another unofficial and practically practically uncontrollable power potter such 8 as fiS Mr Morgan became The trend of present day America is to t centralize power It Stirs is essentially true tine of industry of commerce and of finance If the the national government go under the tho plain in mandate of the people takes that task unto its itself l and extends a n. guiding and directing hand the day r of Wall str street ot supremacy in our industrial life has gone If II the federal arm firm neglects its plain duty centralization will not be bc interrupted it will go f forward but it will bo be massed about an nn authority that ma may eventually challenge the control of society The great grent economic forces that J have aye been hurrying America onward during the tho o past half century cannot be stayed cd b by attempts at repression repression sion by statute Thc They are firc the thc workings of a higher law than those of Congress But they thoy can be ho controlled guided directed and their maleficent maleficent influences dissipated This task is that of or the federal power and nd the manner in which it solves the tho problems ms that arise will deter determine determine mine whether tho the preponderance of influence shall emanate from Washington or fr from m mYall Wall street t When the presidents of banks and trust comp companies nies gathered at nt the home of Mr Morgan in 1907 1007 to quell the financial storm that had begun they sought for aid from the he strongest single individual in the tho country they placed themselves sand and their resources at the command of the grim figure who sal sai saip nothing nothing- except to g give gc c com com- mands mends lie Ile brought order out of chaos chinos and restored tranquillity The money with which he di did it camo caine from the United States State treasury there was no other cou course o to follow fono no other method to pursue The government could do nothing it lacked statutory authority But it could place plenty of ready r ud monc in tho the hands of him who knew best what to do with it if an and in ill whom alone di dithe did the trembling captains of finance have confidence It is a situation that ought never never again to t to arise in rn the tho United States ates The Tho chief power should and must be the government But it lf not the government then another Morgan org n. n KB P pa JI Pa I I I 1 1 A AU Th nappy Happy Thought j I ITHE THE THE HE International Harvester company compan tho the harvester trust owns Owens and operates a stupendous twine factory at nt Auburn N N. Y T. A its ita employees ees Sued by bj- bya recent investigation of conditions among pu pursued a New York legislative c commission developed that women were employed there for twelve hours a night seven even nights a week at nt a stipend barely sufficient to prevent body and soul from parting company Working conditions were ere of the worst possible filth and fI flying ing dust endangered the lives of the employees there was n no known modern sanitary precaution that had hud not been heen ue neglected no method to minimize expense and augment profits that had not been employed These workers are ore anno annoying ing their employers prominent among amons whom is Mr r. r George W W. Perkins the angel of the Bull Bun Moose party part by striking Tho They y exhausted every amicable means menns of securing better conditions and more just remuneration but hut failed Among the tho most implacable of the owners was wag Mr Ir Perkins who joined the tho Bull Dul Moose party he said in order this might be a better country for his children to live H in And now the trust threatens to its plant to Europe unless the strike is settled bottled and its employees employees em em- cease cense their belligerency This European hegira suggestion is indeed a happy thought The trust will win find there men and women who are arc accustomed to social and industrial injustice whoso whose habit and that of their fathers and grandfathers has been to live in slovenly surroundings dings without even cen man mail man of the necessities of life lifo It can recruit employees ees among a class that has been the lowest layer of the social and industrial system y tem th that t. t ez expects nets nothing but the worst of it and is never pointed L Tho Th bl blessings es sr of free fre trade have made Europe's working men an and women wood and drawers of hopeless uncomplaining P laining hewers of 3 water hater who ask little of life lifo because centuries of economic economic shwe slavery cry crys y s have e Ca' crushed whatever of independence and of ambition their n 11 Creator gave gate the them their n Wc i this the trust Its Itse agin this will vill bo be more note satisfactory to e officers i will U deferentially bo treated b by S their employees their feelS feelings feel feel- t 1 fags ings WI will l not be ruf ruffled led by the pugnacious independence that is is so h h common on in m America Americ Ii- Ii J h I 4 rl t I Inter International nano al Horse Horse- Horse Trading ng R b t SE E b by th t J B Balkan slimes allies t to o the tIle peace race terms prepare prepared by the th been b cn y VT powers f is IS' IS i h nearer satisfactory than might have c expected The exhausting se settle of questions that a arise rise at tho the close UL of an all exha exhaust fit fp v dent r w v v vw w w action of e bo hors K war ari re ls is mU ch M fn like th the e rather commonplace trans trans- X who horse dr drw and br lags into nto play pIny the B same mo skill The diplomats dip- dip less th than th lime thov y a aTe are the ww lo e plains without doubt doubt offered much eluded d a and d the tho cOl coon counter ter illing S to c before negotiations are con con- drawn to include in lude demon demands proposal P of tho the allies was equally as artfully Under a l modification Ii upon wv they probably will not insist oti a rented anted yesterday by Y L the now Ol of preliminary P Y stipulations as pre Turkey wo would d lose lOie evon even en powers powers' more mor tm In deference to Bulgaria's insistence plated The Ie peace terms 8 h t e dory than was at first fust had harf confined to the strip alon d Tv en gg ted ed that Turkey in Europe b be e r I along K wic e 8 i f T S i t lint line drawn from rom Enos Enos' on lif the e de e ee ot to Marmora armora defined by a n Midia 3 lid 1 idia a on m the Black DlacK Sea Sen Se a B Buh Buia g the river ri to province of Th Thrace nce b be e. e fi wen B o a tia l however cr weyer demanded that ua the tar u e llari Maritza za and this cro crowds d Turk Turkey r gutY over o both boHI banks of th tIn e It is 15 probable that ih tb even fl further towards Conof Conof Con of that sort o t at tho the be beginning and ar JT contemplated something fi Definite restoration o of f Peace J is Pared to concede it incapable of continuing the tho Attu sale ic finer 1 Viable table ble sin since the Turk i ii strongest forts in In tho the hands of o tho al J disheartened his lw stomach for fr fighting I and nd I a ce d hi his nj t infidel n idol has no r great nations beseeching the tt to o matte naka re i-re re in the tho hands ands of tin tar e And that the powers are ago doing j t R befit t terms they can cnn canu u k Ibe It is 18 reported that a Chinese Kh get St p t pu urs r i ithe the Indian ocean o ean And the tho worst o of it i th r entirely acres acro at home twine mR g gets ors that l p loan tilt tilton on t do its we alkin s Im z ma 1 IIII t r rIf If P parlia parliamentary tary Y law puzzles V C r r eai iid d ever t t fd understand the i c eat wo we c hope ever u i 1 how hover cal ca mm J Ij f 0 j |