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title: 'The Day book. (Chicago, Ill.) 1911-1917, September 27, 1916, LAST EDITION, Image 3',
meta: 'News about Chronicling America - RSS Feed',
Image provided by: University of Illinois at Urbana-Champaign Library, Urbana, IL
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"The business of the U. S. today'
has a momentum that no man or
group of men can stop.
"As for the tariff, -which the Re
publicans insist must be revised, to
help save our prosperity after the
war, I want to say that the tariff is
nothing but a hot-house remedy.
"It may make business sprout for
a little while, but its effect is arti
ficial and it can NEVER produce a
hardy, permanent business plant.
"If we cannot compete on even
terms with any country onv earth,
then we ought to quit. There is ab
solutely no necessity for hard times.
There is enough in this world to do
for everybody and this country al
ways will find enough to do if the
special interests and Wall street will
keep hands off and not rob the many
to enrich the few.
"I believe the president hit the nail
on the head in his speech to the New
Jersey busienss men last week when
" 'The relations of capital and labor
must be regarded as a human rela
tionship of men with men. Labor
must be regarded as part of the gen
eral partnership of energy which is
going to make for the success of
business men and business enter
prises.' "When we get somewhere near
that basis the real causes of hard
times will disappear, i
"And I believe that Wilson, as pres
ident;, will do more to bring an ap
proach to those conditions" than
"I know Hughes. Teddy and Wall
street are behind him.
"I'm a Republican, but I'm for Wil
son. I'm a Republican for the same
reason I have ears I was born that
way. Biit I'm for Wilson because I
believe he can do more to enhance
the prosperity and insure the peace
of this nation than any other candi
date. Any one who does not want
peace and who wants to gamble with
prosperity should, jote against hinij"
BIG BANKERS PLEAD POVERTY
WANT TAXES REDUCED
One hundred of the biggest bank
ers in the city, led by Forgan and
Reynolds, money bosses of the west,
served notice on the board of review
today, that they want their taxes cut
20 per cent Although the board did
not take action on their demand, it
is understood that the appearance of
the banking house gentlemen is only
a formality. , x
Last year this same crowd got a
reduction of 15 per cent on their as
sessment Bad business is their plea.
Reynolds gave figures which he
said proved that the money market
was in bad shape. He said that in
five years, the rate of interest had
dropped from 5.72 per cent to 3.74
on money loaned.
"There's too much money in the
banks," he said. "We have our
vaults full of it and nobody wants to
borrow. This makes the rate of in
terest so low that anyone can borrow
and get the cash cheaply.
Reynolds said that the banks of
Chicago are paying about one third
of the taxes. He said that the Con
tinental and Commercial Savings
bank, the C. and C. Trust Co., and
the' Hibernian Savings Ass'n, were
paying thd city about" $60,000 a
month in taxes.
According to these figures, the ut
Reynolds is asking amounts to about
a quarter million dollars a year. J.
B. Forgan of the First National Bank,
agreed with Reynold's figures. He
told the board of review he wanted a
25 per cent cut but that he would be
satisfied with 20 per cent
New York. Mrs. Wm. Sheehan,
once Kay Laurell, valued wardrobe
at $55 but customs officials say it is
worth thousands of dollars and Kay
is striving to explain.
Kansas City. Men with incomes
from $1,500 to $2,500 are greatest
spendthrifts, said W. H. Waterman
of American Bankers' ass'n at bank
rg' convention here,