Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1905-12-16
LARGEST
WEEKLY CIRCULATION
IN CHICAGO.
JAMES N. ECkELS on roo WUcH
GOVERNMENT.

Hon. James II. Eckcls. the distin.
guished iinancer and President of the
Commercial National Bank of Chi.
cago. made n timely speech ut the
Bankers banquet In New York on the
evils of too much government. Mr..
Eckels showed conclusivcly that the
legislation of to-day il Il menace To
the business prosperity of the country.
Mr.. Eckels said the lawmakers ne
longer rest conteht In the discharge OF
The legitimate functions of providing
for the keeping of peace aud order In
making provision FOR the collection of
revenues for government expenses, In
sustaining the public credit and IN
maintaining the nations dignity ut
home and abroad: bur. reducing these
things from that of the fundamental
principle To the mere incident of legis-
lative life. enter upon the more huz-
ardous and seemingly more inviting
field of enacting multiplicity of So
called business statutes and the crca.
ton of lnnumerahle commissions.
They are statutes" Mr.. Eckcls de.
clared, (which make municipal, state
and national government u potential
partner In almost every mans business
dollar Of investment. and not nfrc.
quently lll-adiustcd and wholly lncom-
pctent commissions are the directing
agency. They are regulating statutes
founded upon the curlously contradlc.
tory theory that demonstrated success
in the business world. large invest
ment and risk Of personal capital and
reputation and wide experience not
only unit an individual for the proper
and wise conduct of his own business
but deaden his sense of patriotism
and make him an enemy of the repub
lie"
Asserting that these business stat
utes" Justify their origin 10y Il fine dis
tlnctlon between forms of property
held collectively through corporal,
agency and property yet remalnln.
within control of the individual, Mr.
Eckcls said
'The wealth and success which nov
Invite attack and regulation WHERE
poverty and disaster would recclv,
neither aid nor comfort have come II
almost every instance through tn
exercise of keen individual judgment
business sagacity and personal needs
The state has done nothing more thai
give the bare skeleton for the NOR
efficient Use of aggregate capital.
has contributed nothing To II. In 7,
turn II has gained greater revenues I
Itself and gathered To the people thos
means OF transportation aud wealtl
development agencies which hay
gained both indirectly and direct
greater benefits through increase
value Of all that which their peopl
IOsSess. And this greater wealth ha
come to those who stand without til
pale Of ownership Of these corporal
properties rather than 10 those VIII
are responsible for their conduct an
suffer for their LOSSES"
Arguing that existing laws are SUI
iiCicut 10 meet any abuse In corporal
business mana cement, Mr. Eckcls sait
THE cOuntry's courts are alway
open 10 meet the demands of lustic,
and an awakened public conScienc
which fnds expression IN wcll-ba
anced aud kccnly voiced opinion
more powerful 10 end these abuse
than hysterIcal appeal for stl
further legislative enactment. Their
should be- no remedy invoked whic
In the end may work greater harr
than the disease itself The cOuntr
can better suffer u great number o
evils than resort 10 laws or inyOk
powers that lead TO dangers far wide
In their reach aud experiments o
greater hazard.
when government corporate own
crship has al last found frnitio