The times. [volume] (Richmond, Va.) 1890-1903, 1893-01-08
Socialism and Wealth.

II has been said that the American peo-
pie do not care how man makes his
money, so long as he makes ii in large
quantities and keeps within the pale of the
law. Success is the veil that covers all
shortcomings. There may be some truth
in this statement, but it is ONLY in a
limited sense. The public never approved
of the methods of Gould and Fisk. de-
spite the brilliant feats they accomplish
ed. 1t has never regarded the opcrati MS
OF those fnanciers who devoted thcm-
selves to the paralieling OF existing rail-
roads as anything but robbery. Yet it
must be confessed that while condemning
these things, it has not seemed TO make
clear the grounds upon which il did it.
Professor Hadley, Of Yale, has said that
the public did not really disapprOve Of
the game which those men played. but
Of the manner in which they played II.
Gould and Fisk were unfair. But ii seems
to us, rather, that it saw and felt the
injurious effects OF their operations and
uttered its protest, but never having
given close thought TO the subject, ii was
ignorant of the live causes.
But the public cannot afford TO disre-
gard these causes much longer. In them
is contained the root of the present move
ment against concentrated capital. We
hear O great deal now about the growth
Of Socialism The term is a loose one,
and probably does not convey the same
idea 70 any two minds. But describing
il in a general way as the demand for
collective production as against individual,
Il will have 10 be admitted that its
strength is increasing. IT is due, however,
10 conditions for which a certain class Of
INSCRIPTIONS financiers are responsible.
Business has always been conducted on
two diverse principles. In medieval days
IL was generally considered as struggle
between buyer and seller. The current
belief was that what one gained the other
lost And this notion, though medieval
in origin has by no means died out, espe-
cially in practice. The person who makes
il 10 his profit to wreck property which
is in his control rather than to buld II
I'D. the one who finds Ii TO his advantage
10 circulate false reports relative 10 the
condition of corporations in his hands for
the purpose Of Initiating their value, Is
acting upon that principle. lie creates
nothing, and what ne gains Is taken di-
rectly out Of some one else's pocket.
The other principle is that of mutual
service. The philosophical basis Of tais
is that a man best serves himself by scr
wing the public. II is on this principle
that railways have reduced their traffic
rates and the, eby multiplied many times
their business It Is on this caiue prln-
cipie that manufacturers reduce The cost
of their goods end enlarge their markets
None of these ore urselhsh in .heir
motives. and yet operating on this pin
ciple they help the public as much as
If their aim had been a single ere. With
he great concentration and combination
OF CAPITAL of the past few wears, he power
Of these two classes OF operators ras
been increased tremendously, and The
question is which shall predomrnate
The people of this cour try are organized
into two greet systems. one is the poll
III al body of voters and the other is the
Industrial body OF property holders.
Naturally there is pressure Of one uron
the other. but undtr normal conditions
they act as a perfect check and baiauCc
upon one another. The growth of Social
ism mean the encroachment Of the poll
teal organization upon the industrial.
and everything which aids in charging
the field OF that hastens the Socialistic
movement. Now there Is no speedier way
OF disturbing this balance than 10 see vast
fortunes result. not nom natural source
or industrial creation. but simply from
taking the savings of some other person.
They mean that some one is that much
the poorer. They mean that nothing has
been added in the gathering OF them TO the
worlds store of wealth. II is IN this way
that the great fortunes OF certain class
OF business men are powerful factors in
the advancement OF Socialism What is
needed Is revision OF popular business
ethics. and 81 clear distinction between
honorably won and dishoncrably gotten
wcalth.-Bostor Journal.