The daily morning journal and courier., 1907-06-27
EX- GOVERNOR RERRICK BEFORE OHIO BANKERS Addresses State Financiers on Legislation and
 Progress.
COMPETITIONINDUsTRY
As Worked Out in Modern Life Has Given Rise to
 Many Evils.

caves anu IOTeSlSj ClOlllSu III lu0 0hll1S of animals, and became a member of organized society, the relation of the state to economic progress has been a theme of constant discussion. Progress sion has been his aim, and rules and regulations, or legislation, consistent with highest development, have been his means. Progressive legislation is a constant curtailment of personal privilege, and submission to any form of government is frequently source of irritation to the freeman. With the blood of our savage ancestors in our veins, militant and impatient of re- straint, it is little wonder that at cer- tain epochs, the people pause and turn from the laiborious ascent toward the beacon lights of higher civilization and again face the jungle, stirred and thrilled by the "call of the wild"
 Property rights and personal liber- ties are the foundation principles of civilization, and the resulting econ omic problems, however puzzling, have grown more and more intricate and difficult of solution, especially in this country, where new phases of char acterizing American life spring daily from the infinite variety of human af- fairs. The quickened evolution of the last half century and especially since 1896, has brought forth new and start ling conditions, and has stimulated many unfamiliar evils. The most notorious abuses of to-day have flour 1rviAh ed prosperity of these recent years, and are the result rather of too great zeal for rapid development on the part of the managers of great corporations and the leaders of labor organizations, than of an intent to injure the prop erty or restrict the rights and per- sonal liberties of the people. Be that as 1t may, the people are profoundly stirred, and are making loud demands for corrective measures-for laws that shall not only remedy existing evils, but shall so safeguard the future as to render their recurrence impossible. This public demand is resulting in the enactment, with great rapidity, of many laws--some wise, some unwise, and many even grotesque. The State Legislatures, in some instances, have exhibited an arrogant disregard for the rights and property of those who have spent lifetime of honest en- deavor to build up a successful in- dustry.
 It is high time that we cease to litter our law books with measures that re- strict industry and give it form so rigid as to be unsuited to natural de- yeloplnent, dwarfing growth and hampering individual initiative and confine our attention to the removal of excrescent growths, and the passage of such legislation as will keep pace with the ouickened evolution of the times, permitting and aiding the country to progress freely along the lines that have been so prolific of good in the past.
 One of the ideals of democratic gov ernment, as conceived by our fore fathers, is to promote economic liberty in it's truest sense-liberty, not li- cense-which harmonizes the individ- ual with society and inculcates a sense of social solidarity. Liberty so conceiv- ed is as much, if not more, the result of social usage and high ethical stand ards as of legislation. With society resting upon such foundation, the individual has the fullest opportunity for the exercse of his talents. It is under the competitive form of indus try, as developed in this country, that we are steadily approaching this ideal. We should, therefore reject any regu- lations having a tendency to cramp or hamper economic liberty
 Competitive industry, as 1t has worked out in modern life, has un- doubtedly given rise to many evils. It has been, and will be necessary to modify by wise legislation the rigor of the system, in order to safeguard the interests of various classes of society. It should not be the purpose of ra- tional modern interference to prevent competition, but rather to raise its level and enlarge it's field having in view increased liberty as the result of a more widespread equality and re- sponsibility---to encourage fraternal- ism and Individuality and discourage the insidious and deadening influence of socialism. Factory inspection laws, laws regulating the labor of women and children. laws providing for the supervision of banks and insurance companies, etc, are both proper and salutary in that they promote equality and fix responsibility.
 The great increase and wide distrib- ution of wealth, in recent years, is bringing about the ''peoplizing" of corporations. The man of small means who has accumulated a few hundred or few thousand dollars, now invests his savings largely in the securities of corporations. This was comparative ly unknown west of New York prior to 1893. Those who furnish the funds for the carrying on of a great enterprise are entitled to adequate information as to it's affairs that they may prop erly conserve their savings. Such pubiicity laws as are consistent with guarding legitimate business secrets, and other helpful regulations, are ger- main to the very nature of competitive industry.
 There are always a few among men of power, willing to adopt questionable business methods, and to fatten on the necessities and ignorance of their fellow men. Society must be protect ed from such pirating men and from the combinations directed and con- trolled by them. IL Is matetr of re- gret, however, that legislation for this purpose often comes from the demand of an outraged public, smarting from