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PAGE FOURTEEN
COOL HEADS.
(Continued From Page Two.)
maintaining confidence, in steadying
the nerves of business. The cooler
the public keeps its head, and the
steadier it ke*»ps its nerves, the soon
er will the financial situation resume
a normal condition.
It is or.c of the anomalies of what
is called an age of enlightenment that
when money is most reeded for legit
imate business it is most difficult to
get. And that is because finance is
yet very far from being an exact
science. People are more easily
frightened than hurt. They talk a
good deal about conditions, but are
apt to knew very little about them.
And the economists, after all, teach
them very little. It is easy to the
orize: it is not so easy to know, be
cause thecry comes with as little trou
ble as instinct, but knowledge is
gained only by labor.
The get-rich-quick decade had na
turally to leave certain results. These
results have been visible in recent
days. The men who are popularly
blamed foi the week’s excitement in
Wall street could have accomplished
nothing without a too-crednlous pub
lic behind them, without a considera
ble population which, while earning
good money, wanted to 1 ‘get-rich-
quick. ” When the speculating pub
lic loses its senses it is unreasonable
to expect that the light-hearted
schemers who profit, however tempo
rarily, by the general propensity to
gamble, will reject the millions which
come tumbling in at their doors. The
credulous crowds have their own re
sponsibility in the matter, and should
* not be too ready with recrimination.
And let it be remembered tnat
even the solid financial powers have
learned a good deal in a dozen or
fifteen years. They have learned the
necessity and value of calm and
ready co-operation in times of crisis.
In former decades they rarely joined
hands to prevent grave and far-reach
ing catastrophes. But now they do
this thing. Realising that the gener
al credit must be maintained, they
unite in exercising their sagacity,
and their own credit, and every re
source at their command. This they
are now doing. Os course the mo
tive is not purely altruistic. The
work has to be done. And the coun
try can safely rest upon the assur
ance that the work will be well done.
Keep every head cool, and every nerve
steady, and presently every one will
wonder why there was any excito
ment. —Boston Herald.
THE COUNTRY SOLID.
The country at large, while deeply
interested in watching the financial
emergency in Wall Street, is taking
a wise and common sense view of
the situation. With good crops and
good markets and with exceptional
general solvency, it sees no reason
for losing confidence. Says the Wash
ington Post:
Business and financial conditions
in the United States are absolutely
sound. From the small farmer, who
is harvesting his crop at high prices
to the United States Treasury, which
is overflowing with money, the coun
try is solid and prosperous. There
can be no cessation of prosperity so
long as the factors of prosperity are
alive and at work. If there hud been
a crop failure this year, or if disas
ter had been invited by foolish legis-
WATSON’S WEEKLY JEFFERSONIAN.
lation tending to destroy confidence,
there might have been occasion for
uneasiness. But there is no excuse
whatever for any honest man in any
honest business to fear trouble The
flurry in financial circles over the re
cent collapses is a temporary agita
tion. There can be no collapse of
solvent banks and prosperous business
ventures--and the banks are solvent
and business is prosperous. The
Comptroller of the Currency has care
fully watched the condition of na
tional banks everywhere. He declares
them to be in an absolutely sound con
dition. The worst has already oc
curred —and it has occurred only to
concerns that were not worthy to live.
Legitimate business is always bene
fited by the removal of men and
corporations that fail to obey the
laws of business. Even in times of
prosperity, certain immutable laws
must be observed if the trader is to
survive. He is his own Nemesis if
he violates them. The business
world will be better off by the purg
ing process. Wall Street gamblers
may be agitated, but the man who
deals with real things is not alarmed.
He goes ahead with his business.—
Nashville Banner.
CONSERVING NATURAL RE
SOURCES.
A communicating of ideas recently
associated with the names of James
J. Hill and Robert M. La Follette,
and to some extent exploited by Gov
ernor Hughes in his waterpower mes
sages, is discernable in the Presi
dent’s remarks concerning the con
servation of natural resources.
The easily amused have affected
Brother Jeffersonian, Get up a Club and send it in at once.
THE WEEKLY JEFFERSONIAN
ATLANTA GEORGIA
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October w. 1907.