Los Angeles herald., 1907-01-17
BEL|TTLE FISH'S
FEAR FOR FUTURE
CARROLL D. WRIGHT PREDICTS
MORE PROSPERITY
President Of Clark University Depre-
Gates Shot Aimed at Corporations.
Believes Combinations Help
the Country
snecial to The Herald.

Special to The Herald.
WASHINGTON, Jan. 16.-It is not
surprising that the one discordant note
in the gladstone paean arising to dc-
claim present prosperity should jar
gratingly on the nations ear. The
statement made by Stuyvesant Fish TO
the effect that the country is drifting
toward a commercial crisis is not taken
very seriously here in Washington.
Neither Secretary Shaw, nor any other
cabinet member, can see anything but
prosperous times ahead.
In fact the storm of protest against
Mr.. t'ish's pessimistic views has been
surprising. George Gould, at the head
of a great system of railroads gridiron-
ing the country, Is emphatic in his
declaration that the present year VIII
exceed in point of business and in gem
eral prosperity the banner year of 1906.
Senator w. A. Clark, rated the next
wealthiest man in the country to John
d. Rockefeller, indorses Mr.. Gould's
view. Now comes Carol d. Wright,
former federal commissioner of labor
and at present head of Clark college,
with statement in which he declares
that the present commercial structure
of the country is too firm to be shaken
by the conditions that brought about
the panics the country has suffered
periodically ever since 1914.
In his declaration Mr.. Wright says:
This occasion for a depression Is not
so likely to occur under present con-
ditions of industry and great operations
as in the past. Whether one approves
or disapproves the modern system of
great combinations, he must recognize
that they have this steadying influence
to which 1 have alluded.
1.-THE condition has changed entirely,
and we must look to see the great COM
binations each depending upon me
other in a way-railroads depending
upon shippers, shippers upon railroads.
great concerns depending upon these
associate themselves together for the
purpose of preventing a financial crisis
and a consequent industrial depression.
This influence alone, l think, has
already delayed the appearance of the
elements of a depression and may post
pone it's coming an indefiite number of
years."
On industrial and commercial sub
jects Mr.. Wright is recognized as one
of Americas leading thinkers The fact
that he has never been regarded us
favorable to great corpora
tions lends added weight to his state
ment. He speaks as a student and Il
thinker and not as an advocate for
great aggregations of wealth. Just at
this time Mr.. Wright's summing up Of
the present commercial situation is
happy.
There is considerable apprehension
among the administration leaders that
the prevailing sentiment in the country,
leveled at corporations, in the end will
have u tendency to shake existent pros
perity If it does not overthrow 1t.
That this belief is entertained not
only by cabinet officers but is shared
by the president as WE'LL is seen in
practically all of the public documents
that have commanded the attention of
the present congress, from the presi-
dents message down to the various re-
ports of the heads of the different de-
partments. Every one of the writer's
urges caution on the part of the public
in it's treatment of business institu-
tionS.
This spirit is reflected in the state
legislatures, which in a number of
states at the present time are engaged
in the enactment or the consideration
of drastic laws for the supervision Of
private business enterprise.