The Washington times., 1901-12-04

! zen. and therefore the welfare of the ag-
gregate Of citizens which makes the ma
tion, must rest upon individual thrift and
energy, resolution and intelligence. Moth
I ing can take the place of this individual
capacity; but wise legislation and honest
/ and intelligent administration can give it
/ the fullest scope. the largest opportunity
to work to good effect.
Industry in the Twentieth Century.
Tho tremendous and highly complex in
| dustrial development which went on with
/ ever accelerated rapidity during the lat
ter half of the nineteenth century brings
! Us face to face. at the beginning of the
| twentieth, with very serious social prob
! lens. The old laws, and the old GUS
| toms which had almost the binding force
Of law. were once quite sufficient to regu-
late the accumulation and distribution of
wealth. Since the Industrial changes
which have so enormously increased the
productive power of mankind they are no
longer sufficient.
The Rich Man and the Poor.
THE creation of great corporate for
tunes has not been due to the tariff, nor to
any other governmental action, but to
natural causes in the business world, OPP
Grating in other countries as they op-
crate in our own.
THE process has aroused much antag-
onism. a great part OF which is wholly
without warrant. 1t is not true that as
| the rich have grown richer the poor have
| grown poorer. On the contrary, never
I hot haC he bn
worker, 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 accumulation of wealth; yet ID re-
mains true that a fortune accumulated in
| legitimate business can be accumulated by
the person specially benefited only on
condition of comforting immense incident
al benefits upon others. Successful en-
! terprise, of the type which benefits all
mankind, can only exist If the conditions
are such az to offer great prizes as the
rewards Of Success.
The Trusts.
THE mechanism of modern business Is
SO delicate that extreme care must be
| taken not to interfere with It in spirit
Uf rashness or ignorance. Many of those
who have made 1t their vocation to de-
nounce the great Industrial combinations
which are popularity, although with tech
nical inaccuracy. known as trusts np-
peal especially to hatred and fear
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 enquiry lid with sober self-re-
straint. Much of the legislation directed
| at the trusts would have been exceeding
| ly misehieyous had 1t not also been en-
| tlrely ineffective.
! Legislation Must BE wise
"In accordance with well known socio-
logical law, the ignorant or reckless agi-
tatOr has been the really effective friend of
the evils which he has been nominally op-
posing. IL dealing with business interests,
for the Government to undertake by crude
and ill-considered legislation to do what
may turn out to be bad, would be to in
cur the risk of such far-reaching national
disaster that 1t would be preferable TO
undertake nothing at all.
The Evils of Trusts.
1T is true that there are real and grave
evils, one of the chief being oyercapitali
zation, because of its many baleful conse-
quences: and resolute and practical ef-
fort must be made to correct these evils.
There is a widespread conviction in the
minds of the American people that the
great cor porations known as trusts are
in certain of their features and tendencies