The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-04
INDUSTRY AND COMMERCE.
SERIOUS SOCIAL PROBLEMS.
There Must BE Caution in Dealing
with Business Combinations.


with Business Combinations.
During the last five>years business conf
dence has been restored. and the Nation is
to be congratulated because of its present
Astounding prosperity. Such prosperity can
never be created by law alone, although it
is easy enough to destroy it by mischievous
laws. If the hand of the Lord is heavy
upon any country, If flood or drought
comes, human wisdom is powerless to avert
the calamity. Moreover, no law can guard
us against the consequences of our own
folly. The men who are idle or credulous,
the men who seek gains not by genuine
work with head or hand, but by gambling
in any form, are always a source of men
ace, not only to themselves, but to others.
If the business world loses its head it loses
what legislation cannot supply. Funda-
mentally the welfare of each citizen. and
therefore the welfare Of the aggregate of
citizens which makes the Nation, must rest
upon individual thrift and energy, resolu-
ton and Intelligence. Nothing can take
the place oe this individual capacity. but
wise legislation and honest and intelligent
administration give it the fullest scope.
the largest opportunity to work to good
effect.
The tremendous and highly complex in
dustrial development which went on with
ever accelerated rapidity during the latter
half Of the nineteenth century brings us
face to face, at the beginning Of the twen-
tieth. with very serious social problems.
The old laws, and the old customs which
had almost the binding force of law, were
once quite sufficient to regulate the &C
- ~
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
comparison faster than the growth Of the
| country, and the upbuilding of the great
Industrial centers has meant startling IN
crease, not merely in the aggregate of
wealth, but in the number of very large in
dividual. and especially of very large cor
porate fortunes. The creation of these
great corporate fortunes has not 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 our own.
The process has aroused much antagon-
ism. a great part of which is wholly with
out warrant. 1t is not true that as the rich
| poorer. On the contrary, never before has
the average man. the wage-worker. the
| farmer the small trader been so we'll off
| as in this country and at the present time.
| There have been abuses connected with
| the accumulation of wealth; vet ii remains
/ true that fortune accumulated in legiti-
mate business can be accumulated by the
person specially benefited only on condi-
| ton OF comforting immense incidental
benefits upon others. Successful enter
/ prise of the type which benefits all man
kind can only exist II the conditions are
| such as to offer great prizes the rewards
| OF success.
NEVER MORE PROSPEROUS.
The captains Of industry who have driven
the railway systems across this continent
who have built UP our commerce, who have
| developed our manufactures, have on the
whole done great good to our people. With
out them the material development Of
which we are so justly proud could never
have taken place. Moreover, we should
recognize the immense Importance to this
material development of leaving as I'M
hampered as is compatible with the pub
lie good the strong and forceful men upon
whom the success Of business operations
inevitably rests. The slightest study Of
business conditions will satisfy anyone ca
| pable Of forming a judgment that the per
|
/ in a business operation; that the business
/ ability of the man at the head of any bust
/ ness concern. big or little, is usually the
/ factor which fixes the gulf between strik-
ing success and hopeless failure.
| An additional reason for caution in deal
ing with corporations is 10 be found in the
International commercial conditions of to-
/ day. The same business conditions which
/ have produced the great aggregatiOns Of
/ corporate and individual wealth have made
them very potent factors in International
| commercial competition. Business con-
/ Germs which have the largest means at
/ their disposal and are managed by the
ablest men are naturally those who take
| the lead in the strife for commercial su-
/ premacy among the nations OF the world.
i America has only just begun 10 assume
/ that commanding position in the inter-
! national business world which We believe
/ will more and more be hers. II is of the
utmost Importance that this position be
/ not jeoparded, especially at a time when
| the OVERLOOKING abundance OF our own nat
ural resources and the skill. business en-
/ ergy, and mechanical aptitude OF our peo-
| pie make foreign markets essential. Under