New-York tribune., 1901-12-04
THE TRUSTS.

During the last five years business confidence mas
been restored and the nation is to be congratulated
because of its present abounding prosperity Such
prosperity can never be created by law alone al
though it is easy enough to destroy II by mis-
chieyors laws. II the hand of the Lord is heavy
upon any country, If flood or drouth comes human
wisdom is powerless to avert the Calamity MORE
over no law can guard us against the conse-
ouences of our own folly. The men who are lule
o- credulous the men who seek gains not by gem
uine work with head or hand. but by gambling IN
any form. are always source OF menace not otiy
to themselves but to others If the business world
loses its head loses what legislation cannot sup
ply Fundamentally the welfare of each citizen
and therefore the welfare of the aggregate OF ct-
zens which makes the nation, must rest upon IN
dvidua thrift and energy, resolution ana ln'eiI-
gence Nothing can take the place of this lndl-
vidua capacity. but wise legislation and honest ana
Intelligent administration give 1t the fullest
scope the largest opportunity to work to good e1-
feet.
The tremendous and highly complex industrial de-
velopment which went on with ever accelerated ra-
pdity during the latter half OF the nineteenth
century brings us face to face at the beginning VI
the twentieth with very serious social problems
The old laws and the old customs which hao al
most the binding force OF law, were once quite
sufficient to regulate the accumulation and dis
tribution of wealth. Since the industrial changes
which have so enormously increased the productive
power OF mankind they are no longer sufficient
The growth of cities has gone on beyond com
than the growth OF the country, anu
the upbuilding of the great industrial centres mas
meant a startling increase not merely in the ag-
gregate of wealth. but in the number Of very large
individual, and especially OF very large corporate:
fortunes The creation of these great corporate
fortunes has been due to the tariff nor to any
other governmental action but to natural causes IN
the business world operating in other countries as
they operate in
The process has aroused much antagonsm a
great part of which is wholly without warrant
hat he r1CTer
the poor have grown poorer. On the contrary
never before has the average man, the wage
worket the farmer the small trader been so well
off as in this country and at the present time
There have been abuses connected with the accu-
mutation of wealth: yet it remains true that
fortune accumulated In legitimate business can
he accumulated by the person specially benenteu
onlv on condition comforting immense incidental
benefits upon others Successful enterprise OF tne
tvne which benefits all mankind only exist II
the conditions such to offer great prizes dS
the rewards of success.
CAPTAINS OF INDUSTRY.
The CAPTAINS of industry who have driven the
railway systems across this continent VINO nav
built up commerce. who have developed ou.
manufactures, have, the whole done great soo0
to our people. Without them the material oeeeiop
ment of which so justly proud could nesel
have taken place. Moreover, we should recognize
the immense Importance to this naterlal oeVr
ment of leaving unhampered as is cohhpd''
the public good tne stTohs anu
upon whom the success OF business operations III
evitably rests The slightest study of business con-
ditions will satisfy any one capable OF FORMING
Judgment that the personal equation Is the mos
inportant factor in business operation. tnat 'ie
,;oss abiIitv Of the man at the head OF any
business concern big little, is usually the factor
which 6xes the gulf between striking success ana
hopeless failure. ;.,
An additional reason for caution in deaiins VIII,
oornor.tions is to be found in the international
x,ro,aI conditions of to-day. The same pusi-
ness conditions which have produced the great as-
ereee,ions of corporate and individual wealth nave
made them very potent factors in lnterna'io,H. .
cournercial competition Business concerns "hc"
hove tho largest means at their disposal ana are
managed by the ablest men are naturally thus,
which take the lead in the strife for commefc'ai
supremacy among the nations OF the worio- Ano
,ca has only Just begun to assuzn> that sonman"-