The herald-advance. (Milbank, S.D.) 1890-1922, 1901-12-06


Moreover, we should recognize the inn
mense Importance to this material de-
velopment of leaving as ~unhampered as
Is compatible with the public good the
strong and forceful men upon whom the
success of business operations inevitably
rests. TIE slightest study of business
conditions will satisfy any one capable
Of forming a judgment that the persona
equation is the most important factor in
q business operation; that the usine
concern. big or little, is usually the factor
which fixes the gulf betw cen striking
success and hopeless failure.
An additional reason for caution in deal
ing with corporations is to be found in the
international commercial conditions of to-
day. The same business conditions which
have produced the great a~ggregations Of
corporate and individual wealth have
made them very potent factors in inter-
national commercial competition. Bush
ness concerns which have the largest
means at their disposal and are managed
by the ablest men are naturally those
which take the lead in the strife for COM
mercial supremacy among the nations Of
the world. America has only just begun
to assume that commanding position in
the International business world which
we believe will more and more be hers. 1t
Is of the utmost Importance that thisp o-
sition be not jeoparded, especially at a
time when the cverflowing abundance Of
our own natural resources and the skill.
business energy and mechanical aptitude
Of our people make foreign markets es-
sential. Under such conditions it would
be most unwise to cramp or to fetter the
youthful strength Of our nation.
. Moreover, 1t cannot too often be =
. pointed out that to strike with igno- .
= rant violence at the interests Of one q
. set Of men almost inevitably endan- =
. gers the interests of all.
The fundamental rule OF our national
HE. the rule which underlies all others.
IL that on the whole and in the long run
we shall go up or down together. There
are exceptions, and in times of prosperity
some will prosper far more and In times Of
adversely some will suffer far more than
Others; but, speaking generally, a period
Of good times means that all share more
or less in them, and in a period of hare
times ali feel the stress to a greater or
less degree. 1t surely ought not to be
necessary to enter into any proof OF this
statement. The memory of the lean years
which began in 1898 is still vivid, and
we can contrast them with the conditions
In this very year which Is now closing.
Disaster to great business enterprises
can never have it's effects limited to the
men at the top. It spreads throughout,
and while it is bad for everybody it is
worst for those farther down. The capt.
talist may be shorn of his luxuries, but
the wageworker may be deprived Of even
bare necessities.
. IL 80 delicate that extreme care must .
Q be taken not to interfere with It in q
. a spirit OF rashness or ignorance. q
. Many Of those who have made 1t .
. their vocation to enounce the great q
. Industrial combinations which are q
. popularity. although with technical 4
. inaccuracy, known as trusts" ap- .
. peal especially to hatred and fear. 4
particularly when combined with ignor-
ance, which unfit men for the exercise OF
cool and steady Judgment. In facing new
Industrial conditions the whole history OF
the world shows that legislation will gen.
orally be both unwise and ineffective un.
less undertaken after calm inquiry and
with sober self-restraint.
Much OF the legislation directed at the
trusts would nave been exceedingly mis-.
chievous had 1t not also been entirely in
effective. In accordance with q we'll.
known sociological law the ignorant OF
reckless agitator has been the really eff.
fectiye friend Of the evils which he has
been nominally opposing. In dealing with
business interests for the gov eminent tt
undertake by crude and ill-consfdercd leg.
I~islation to do what may turn out to bt
bad would be to incur the risk of sucf
far-reaching national disaster that il
would be preferable to undertake nothing
1t all. The men who demand the impossi
Bile or the undesirable serve as the allie.
OF the forces with which they are uomi
nally at war, for they hamper those win,
would endeavor to find out in ratioaa
fashion what the wrongs really are anC
10 what extent and in what manner il il
practicable to apply remedies.