The evening times. [volume] (Washington, D.C.) 1895-1902, 1902-07-01

e7 stability of employment and toward
the general ameIioration Of the condi-
tons Of labor. These things make for
the diffusion of wealth, but not so
strongly as the presence Of a powerful
incentive to saving. combined with rec
OEniZed opportunities for investments
from which satisfactory and stable re-
turns may be anticipated
Corporations ard Democracy.
It is said that these immense corpora
tons are dangerous to a democracy and
that the tendencies of the movement are
toward the creation OF an a-ist0c-ac-.
or 10 Use the word that appears gen
orally TO be preferred by those who
speak from political platforms. q pIu-
rocTacy- Certainly, an institution that
tends strongly 20 the diffusion Of wealth
cannot be leading toward an aTistOeracy
based on property unless there IS some
strongly counJeractinE tendency. The
business corporation IS a device by
which the man Of moderate means Sc
cures standing as capitalist and adds TO
ms income as a lahoTeT the interest on
his modest accommodations 1t also gives
MIN standing IS q director OF In5ustry
and as Pr cntTe9 -encCr- for. as q share
holder, he exercises the right of suTra &c
in corporate meetings and, as a potential
Investor h-s views are respected IN the
plans and p-cspectuscs of promoters
and he Is endowed with some negative
pcEe~ over their projects The history
Of every corporation whose develop
nent has been attended by increasing
ta1ii5ty shows that such progress is al
ways accompanied by the diffusion of
sharehCI5in-s and the multiplication Of
small! investors
Relation to the Individual.
Il is frequently charged against the
torn o. organization which industry Is
rapidly assuming that great ccmbina-
TINS weaken individual character by in
creasins the proportion OF employees to
employers Many wbo defend the move
TeCt on ether grounds seem tacitIv to
acknow ledge the correctness Of this
charge and 10 do no more than 10 urge
that il is offset Ey- other considerations .
Such Cd Offset would be imD0ssi ole. So
ciety cannot consent to the impairment
Of auT o. is Individual members ana
any thing which which may tend 10 pro
dUce that result must he disadvantag- !
eOUs even from 4 strictly economic point
OF view Bu- is there any such impair I
nent? Under the form. Of organization
which is GiSap pear.ng, every industry |
was conducted IN many separate estab- /
lishIents, each subject to independent I
direction. Production was more costly /
because its methods were limited by the /
capacity o. thu least competent among 1
those who possessed such Independent I
authority
Individual liberty Of initiative in this
aspect seems something very like free (
dom from visibility. In the new or
der those who constituted the least cap
able II the old. OF their successors. be /
Gene employees charged with TIE direc- .
ten CT particular departments OF I
branches Of Industry The successful I
leader CT great corporation does not /
sbscrb the entire power of initiative n {
is affairs. The Limitations CT tine and /
physical strength nTcclude such a course /
md these Tho attempt il speedily give I
way to wiser men. Power 10 direct and 1
to originate. il more or less /
restricted fields. are accorded to scores I
e employees and both are exercised sub
jCct 10 the strictest accountability for [
results. The main differences between
he old order and the new. therefore. 50 f
far as they affect the individual. are.
that under the new system he is given /
& bToaGcv>Tiew Ct the Industry in which !
he is engaged, Is brought INTO closer
contact and competition with others in .
the Same field. and is charged with a de-
gree CT responsibility which demands (
from him the highest industry ard the .
most thoughtful application
There has never been time when the
Industrial world offered greater cDpor-
tU2ities for the development O. indlvid-
UaI power. OF when the rewards OF in
:egrity and capacity were greater. The
search for the exceptional man mas at
iaincd an Intensity that is without pre-
cCdCnt