New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-08-09
PUBLIC SEEKS TO BE JUST.
Bat II Must Hare Full and COrrec
Information from Newspapers.

y-s,a-x,fue Iowa Aug S-Ceorre Roberts. for
-nerly director Of the mint. and now president Of
the Commercial National Bank of Chicago, was
the rrincipaI speaker at to nights joint session
If she Inner Des Moines and Corn Belt Editorial
Associations. Esterviile, Iowa Mr. Roberts IS
one Of the original members of the former asso-
siation In his address Mr. Roberts discussed the
tendency 10 enlarge governmental functions and
,ae dif3clties TO be in such efforts He said
in part: -. -, .,+,,o..o.,
now presented 10y the enactment Of the new fed
era railway legislation and the public utilities act
Of New York State. These acts undoubtedly en-
body sound public policy The public control
Of rnonopoies whose services are necessary 10 the
community is inevitable. That argument is over
but the problem itself is yet 10 be dealt with
Nothing IS disposed Of by merely turning it over
80 the government to be managed This question
is much larger than the simple regulation OF prof
its upon capital already invested in public service
corporations; how much larger is indicated py Ihe
fact that more than a billion dollars IN new Sc
Crrities have been offered 10 the public by this
class Of American corporations since January L
Of the present year
--There must be a broad and popular market.
such as only general confidence can give, to alb
sorb this never-ending stream of new securities
The amount drawn from such properties IN olti-
dends from year to year Is small, compared win
The amount q capital required 10 keep their
facilities up TO the expanding needs OF the coun-
Try II is obvious that unless this proposed regua
ton proves in practice be reasonably acceptable
investing public. capital VIII turn INTO oieF
channels with resulting injury the public enor-
Tncusly more serious than any prooaple loss 10
security holders Il may be agreed that the public
has no intention of being unjust 10 railroad prop
erfv; that IS the point in issue The puolc
ranuot expected act with wisdom unless II
has full and information the best board OF
directors would go wrong otherwise. Unfortunately
the Tublic sources OF information. particularly
bollt any subject political action, are very I'M
certain. The average busy man must form ms
opinions upon 2 hasty reading Of hastily edited
newspapers. and nobody knows the faults OF iie
modern daily paper better than the men VINO make
them.
The higher organization Of society waits upon the
DEVELOPMENT in the press higher sense of social
responsibility. Society cannot undertake ana sue
cessfulIv perform the complex duties that are
proposed for II unless this organ of social con-
seriousness performs its work soberly and faith
fully
There is no occupation in the world with which
a man can more worthily be content than that OF
editing a newspaper He has business and yet II
he has the true spirit of his profession the money
making features become subordinate and lnclden-
tai: his heart the public concerns to which he
revotes his pen. The most rational ambition man
can have is 10 he independent have money enough
10 care for those dependent on him, hold useful
and respectable position in the community and De
able TO exert influence his fellows No other
occupation realizes these aims more completely
than that Of the editor particularly the editor who
owns his paper and writes his hearts CONVICTIONS