New-York tribune., 1901-12-04

| ing position in the international business world
which believe will and more be hers. It IS
of the utmost Importance that this position be not
jeoparded. especially at a time when the over
flowing abundance of our own natural resources
and the skill. business energy and mechanical apt-
tude of people make foreign markets essential
Under such conditions it would be most unwise TO
cramp or to fetter the youthful strength of our
nation
Moreover it cannot too often be pointed out that
TO strike with ignorant violence at the interests Of
of almost inevitably endangers the in
teress of all The fundamental rule in our national
lfe-the rule which underes all others-is that,
on the whole. and in the long run We shall go up
or down together. There are exceptions and In
of prosperity some will prosper far more, ana
IN times of adversely 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 hard times all feel the
stress or less degree. 1t surely ought
be necessary to enter into any proof or TINS
statement: the memory of the lean years which
began in 1895 is still vivid, and we can contrast
them with the conditions in this very year which
is now closing Disaster to great business enter
prises can have its effects limited to the
men.at the top. II spreads throughout and, while
Il is bad everybody it is worst fof those furthes
down The capitalist may be shorn of his luXu-
ries but the wageworker may be deprived of even
bare necessities.
WARNING TO THE RASH.
The mechanism of modern business is so delicate
that extreme care must be taken not 10 interfere
with II In a spirit of rashness or ignorance Many
NJ those who have made il their vocation to de-
nounce the great Industrial combinations which
are popularly. although with technical inaccuracy.
known as trusts" appeal especially to hatred
and foar These are precisely the two emotions.
particularly when combined with ignorance which
unfit men for the exercise of cool and steady Judg-
ment In facing new industrial conditions the
Whole history of the world shows that legislation
will generally be both unwise and ineffective un-
less undertaken after calm inquiry and with SOBER
s.,frestraint Much of the legislation directed at
the trusts would have been exceedingly mischevous
had 1t not also been entirely lnenecuVe- IN ac-
cordance with we'll known sociological law, the
ignorant or reckless agitator has been the really
effective friend of the evils which he has been
nominalIy opposing. In dealing with business IN
terests for the government to undertake py crude
and Ill considered legislation to do what may turn
out to be bad would be to incur the risk of such
far reaching national disaster that 1t would be
nreferablc 10 undertake nothing at ALL The men
who demand the impossible or the undesirable
serve as the allies of the forces with which tney
are nominally at war. for they hamper those who
would endeavor find out in rational fashion what
tho wrongs really are and to what extent and in
what manner it is practicable to apply remedies
All this is true and yet it is also true that there
are real and grave evils, of the chief being
overca pitaIization, because of its many balefui
consequences. and resolute and practical effort
must be made to correct these evils.
There is a widespread conviction in the minds Of
the American people that the great corporations
known as trusts in certain of their features
and tendencies hurtful general welfare. This
springs from no spirit of envy uncharita bleness
nor lack of pride in the great industrial achieve
ments that have placed this country at the head
of the nations struggling for commercial suprem-
acv It does not rest upon lack of intelligent ap-
probation of the necessity of meeting changing and
changed conditions of trade with new methods nor
upon ignorance of the fact that combination OF cap
ital in the effort accomplish great things is
great things be- done. 1t is based upon sincere
conviction that combination and concentration
should be- not prohibited but supervised and with
in reasonable limits controlled; and, in my judg-
ment, this conviction is right
It is no Limitation upon property rights or free
dom of contract require that when men receive
from government the privilege of doing business
under corporate form. which frees them from in
dividual responsibility and enables them to call
into their enterprises the capital of the public they
shall do so upon absolutely truthful representations
as to the value the property in which the capital
is be invested. Corporations engaged In inter-
state commerce should be regulated If they are
found to exercise license working to the public
injury 1t should be much the aim of those who
seek for social to rid the business world
of crimes of cunning to rid the entire body pol
itc crimes of violence Great corporations exist
only because they created and safeguarded by
our institutions. and it is therefore our right and
our duty to see that they work in harmony with
these institutions.
PUBLICITY AS A REMEDY.
The first essential in determining how to deal
with the great industrial combinations Is knowi-
edge of the facts-publicty In the interest OF the
public the government should have the right TO tn
spect and examine the workings Of tho great cor
nora.,ona engaged In interstate business Publicity