The Providence news. (Providence [R.I.]) 1891-1906, 1901-12-03

very large corporate. fortunes. The Gre
has not been due 10 the tarin nor 10 any
other governmental action. bur 10 hatu-
RAJ causes IN the business world. opsr-
sting In other countries AZ they oper-
ate In our own.
FRUITS OF SUCCESSFUL ENTER
PRISE.
The process has aroused much antago-
nism. "A great part OF which Is wholly
without warrant. IL Is not true tnaI
as the rich have grown richer the poor
heys oa see %an the
wa8e-worker, the farmer, the small trad,,
er. been so well Off In this country ana
at the present time. There have been
abuses connected with the accumulation
or wealth; yet IL remains true that
fortune accumulated i'm legitimate busl-
specially benefited only on condition OF
conferring immense incidental dement's
upon others Successful enterprise ol
only exist II the conditions are such
as 10 offer great prizes as the re"arus
The captains OF industry who have driv-
en- the railway systems across this conti-
nent. who have built UP our commerce,
who have developed our manufactures,
have on the whole done great good 10 our
people. Without them the material de-
velopment OF which we are SO justly
Moreover, we should recognize the inn
mense importance 10 this material devel-
opment 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.
The slightest study OF business con-
ditions will satisfy. anyone capable OF
forming a judgment that the personal
equation is the most important factor In
business operations; that the business
ability Of the man at the head or any
business concern, big or little, is usually
the factor which fixes the gulf between
striking SUCCESS and hopeless r9ffure-
An additional reason for caution In
dealing with corporations is 60 be found
I'm the international commercial condi-
tions Of today. The same business condi-
tions which have produced the great aggre-
cations OF corporate and individual
wealth have made them very potent fac
tors in International commercial com
petition. Business concerns which have
the largest means at their disposal and
are managed by the ablest men are nat
urally those which take the lead I'm the
strife for commercial supremacy among
the nations OF the world.
America has only just begun TO assume
that commanding position I'm the inter-
national business world which We be-
lieve will more and more be hers. IT IL
OF the utmost importance that this POSI-
ton be not Jeoparded, especially at
time when the overfiowing 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 10 cramp or TO fetter the
youthful strength OF our nation.
A FUNDAMENTAL, RULE.
Moreover, Il cannot too often be point
ed out that TO strike with ignorant vio-
lence at the interests OF one set of men
almost inevitably endangers the interests
OF all. The fundamental rule in our ma
tional life-the rule which underlies all
others--is that. on the whole. and in the
long run, we shall go up and down to-
gether. 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 speak
ing generally. a period of good times
means that all share more or less in
them, and in a period of hard times all
feel the stress 10 a greater or less degree
IL surely ought not to be necessary to
enter into any proof of this statement;
the memory OF the lean years which be-
gan iu 1898 is still vivid, and we can con-
tr7st them with the condition I'm 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
1t spreads throughout. and while 10 is
bad for everybody. IL is worst for those
farthest down Tho capitalist may be
shorn OF his luxuries; but the wage
worker may be deprived OF even bare ne
cessities.
THE CASE OF THE TRUSTS.
The mechanism OF modern business is
so delicate that extreme care must be
taken not 10 interfere with IL In spirit
OF rashness or ignorance. Many OF those
who have made ii their vocation TO de-
nounce The great Industrial combinations
which are so popularity with technical in
accuracy, known as trusts" appeal es-
pecially TO hatred and fear. These are
precisely the two emotions particularly
when combined with ignorance, which un-
fit men for the exercise of cool and steady
Judgment.
In facing new Industrial conditions, the
whole history OF the world shows that
legislation will generally be both unwise
and ineffective unless undertaken after
calm inquiry and with sober self-re-
straint. Much OF the legislation directed
at the trusts would have been exceeding
ly mischevious had it not also been en-
tirely ineffective. In accordance with a
well-known sociological law. the ignorant
or reckless agitator has been the really
effective friend OF the evils which he has
been nominally opposing. In dealing with
business interests, for the government TO
undertake by crude and ill-considered Leg
islation 10 do what may turn out TO be
bad would be 10 incur the risk OF such
far-reaching national disaster that it
would be preferable TO undertake Moth
ing at all.
The men who demand the impossible or
the undesirable serve as the allies OF the
forces with which they are -Hemiaaily At
war, for they hamper those who would
endeavor 10 find out In rational fashion
what the wrongs really are and TO what
extent and in what manner IL is practic-
able 60 apply remedies.
All this is true; and yet II IL also true
that there are real and grave evils, ono
OF the chief being over-capitalization be-
cause OF its many baleful consequences;
and a resolute and pactical effort must
be made 10 correct these evils.
There is a widespread conviction I'm tho
minds of the American people that tho
great corporations known as trusts ara
i'm certain of their featues and tendencies
hurtfuI 60 the general welfare. This
springs from no spirit of envy or unchar-
itableness, nor lack OF pride I'm the great
Industrial achievements that have placed
this country at the head OF the nations