The Birmingham age-herald., 1907-09-29
PUBLICITY AND HONESTY
 ESSENTIAL ID BUSINESS
Tendency of the Age Toward combina- ton Is Emphasized In Rockefeller's Words, and He Also Declares
 Men Must Be Trusted.
BY WILLIAM ROSTER.

Cleveland, O., September 2s.-(Spe- cial.) .)-From the retirement of Forest Hill John D. Rockefeller, on Thursday gave this message on the economic future of the United States:
 My faith in the future Is bound less. We are but in the infancy of our economic development which must pro- ceed as 1t followed during the past forty years the line of consolidation and co operation.
 You ask me what I think of the future of the business corporation or trust so-called I say that my faith in the Standard oil company, for in- stance was never greater than it is at the present hour. It has a future that will far transcend it's achieve ments of the past. So with all the great industrial corporations.
 Ut is the tendency of the age to combine. This tendency will become even more marked as the time passes. The industrial combination has be- come fixed feature of our economic scheme It has come to be recognized that business on a successful scale can only be carried on and the interests or every one properly served by means of II. binaton and cooperation can an even balance be maintained.
 Onward, Is the Word.
 "There can 1 e no turning back We cannot return to the post and tavern days. While the few were regrettably iniured by the coming of the ral- roads, thousands were benenteu. lI is so in all other interests The fa'r level of prosperity which trade com bnation assures us is much to pc pre- ferred to a short period of great pros nerity followed by marked period oi depression, which was the way Tn the cid days tt.sss3 .It being so, then. that our economic security and progress rest upon tne basis of combination, 1t seems to he that the time is coming-ls here' III fact-when the problems which con front us will be discussed with ialr- ness and intelligence and settled not on the basis of a temporary agitation but in the spirit and manner ot talr minded Americans without rancor or bias. ~ "Conadence is all that is needed-con- fdence on both sides; what call lalti, in humanity, belief in human nature ahd in the natural inclination Of every normal man to be honest .s.z,... at the present time to insure the con duct of corporations on an apsoluteis honest basis, and l believe also that nus corporations are administered honestly. Mistakes are made or couis p'
 cannot be avoided.
 Publicity Essential.
 But if more laws are needed, let theh bo such as are dictated by actual eX- er;once and enacted by the legislative nower aiming at the best interests Of all specifically I believe in publicity. NO honest corporation has any secrets as regards it's management to conceal rom the public The people have a right to .ha facts To the workingmen, I would eav that his best interests He in ac- centing the conditions which have come about through natural plocess oi economic evolution. Really, he Will come to learn in time that the puiwalh ,rt ol his prosperity is the wisely and honestly adn,inistered corporation which is here to stay. .,. .,. look to see the day when the working mon generally. as Standard oil employees have done and grown rich thereby, will invest their savings in the securities CT tho industrial combinations as they now deposit them in the savings banks.
 "Finally. with honest administration as sured on the one hand ana coniiuelcs therebv compelled on the other, let those who are charged with the management or tho corporations be held to d strict per sonal responsibility for their acts and there will be an end to distressing 1n- dustral strife
 that my faith In my country is strong enough to inspire a belief in unimag- ined glores for her in the future. haven't changed my mind, and am perfectly willing to take my chances Witn my fellow countrymen and go down with colors flying if unlocked for disaster does come"
 Significant Words.
 Coming at q time when the United States government has the Standard O.. company by the throat with general advance ordered against several other giant industrial corporations operating similar broad fields. the significance or these words will not pass unnouced-
 Mir. Rockefeller spoke with unwonted Mir Rockefeller spoke with unwonted the golf links at his Cleveland estate, and he frequently jabbed his club into the earth to force home his utterances. He appealed to pr. Eaton and Dr. Jud- son to bear him out. and the discussion as to the future of the industrial corpora tion became general.
 Particularly with reference to the good that is to come out of great industrial corporations, was the creator of the great est of them all emphatic. Some surprise was expressed at the doctrine that the trust will take the place of the savings hank as the depository of the savings of the poor.
 "Why not?" he insisted 'The corpor- ations can afford 2 higher rate of inter est and if you will force personal re- snonsibility upon those who manage the corporations perfect safety will be as- sured.
 Note that he laid stress upon the point of ..personal responsibility" This is an extremity to which the laws governing corporations have not yet gone. But it .s in no sense criticising his associates ,n the management of corporations, for he instantly asserted his belief that cor poratons are now managed honestly.
 Honesty In Management.
 "Why should they not be managed non sstlyg'' asked Mir. Rockefeller. Who is