The Washington times., 1901-10-28
Misleading Terms.

Much misunderstanding of public
questions, particularly those Of an eco
nomic character, arises from the loose
employment Of generalities and scien-
tific terms which. if applicable at all.
are only so when carefully and discrim-
inatingly qualified. For example. moth
ing is more common than for writer's
and speakers TO refer to the natural
laws Of trade and finance, although
the fact is that there is neither trade
nor finance in nature. Both are Of ar
tificial creation, and the only way in
which nature plays any part in them
is through the working of mans natur-
al instincts, developed and quickened
by experience and education. In speak
ing of the trusts many have referred
% them as resulting from a process Of
evolution. There is nothing wrong in
this expression when it Is properly un-
derstood. but it is very likely to mis-
lead unless it is clearly explained. The
suggestion is that the trusts have re-
suited from the operation of purely
natural laws unassisted by man. when
in truth they are created by man and
consist of men. Remove the human ele-
ment from the trusts and there would
be nothing left.
As a rule these expressions are used
for the purpose Of warding off attempts
at legislation which the financial and
commercial interests do not desire.
They seek to convey the impression
that whatever advantages they possess
are natural ones. and that any attempts
to limit or regulate them would be fu-
tile, because nature is on their side.
Nature never built a ship, constructed
railway, erected a factory. or estab-
lIshed a bank. one and all these things
are the work Of man, and they have
been brought to a higher and higher
state Of efficiency just in proportion as
human intelligence has advanced. what
man can create, men can control 1t
would, indeed, be a most anomalous
thing if a half dozen men could form
trust, and manage 1t solely for their
own advantage, while seyenty-six mill
lion other people would be powerless
to protect themselves against such
management Corporations, trusts, and
banking associations are formed under
and in conformity with the avs Their
business must be conducted as the laws
prescribe, and it is for the countrys
electorate 10 say ~hat the laws should
be.
Many Of those who invoke natural
processes in defence Of existing abuses
do so innocenuy and honestly. There
90
if they pause to consider it, should at
once convince them that they are MAX
ing q misapplication of terms. Those
who are the benefciaries Of these so
called "evoluticns" never hesitate to
appeal 10 the law either for their own
protection or their further advantage.
Take the national banks as an illustra
ton. They were organized under Fed
eral statutes and their right 70 issue
circulating notes Is purely a matter of
legislation. BY the provisions OF the
law. the amount of notes which each
bank can issue is strictly limited Al
most from the beginning they have
been demanding the privilege Of issu-
ing more notes, and upon easier terms.
BY the act of March "A, 1900, their priv
ileGes in this respect were enlarged.
They may now issue circulating notes
TO the par value of the bonds which
they deposit with the Treasury But
this does not satisfy them. They insist
upon being allowed to issue notes upon
The security Of their general assets. 70
this end they are bringing constant
pressure 10 bear upon Congress for ad-
ditional legislation. But let a general
be inaugurated for the cur
tailment Of their privileges, and they
would at once raise the cry that the
banks are a financial evolution" ana
that any attempt to restrict them in |
their operation would be to fly into
the teeth of natures laws
So with The trusts. These great COM
binations are declared to be an indus
trial evolution but it is noteworthy
that they are not willing 10 take their |
chances on evolutionary processes
alone. They also want every legal ad- |
vantage they can get. When ii is pro- |
posed to lower or remove the tariff be- |
hind which they are operating. they are |
up in arms at once, and insist that il |
means ruin TO them, and to the coun- |
try If the DarWinian theory Is to be |
applied to business affairs. 1t should |
be sllowcd 10 work freely both ways. |
But 1t Is not. 1t is invoked in such