The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-10-16
NebraskaUniversityP Pres
ident, Friend of Rookie
felIer, Scores Dema-
gogueS.
Growing Infamy of Age
That Men of Fine Char
acter Are Attacked,
He Says.

President z. Benjamin Andrews, Of
the University of Nebraska, one OF the
foremost educators OF the country, in
an address at the fall convocatior =
the George Washington University at
the Beiasco Theater this morning pro-
tested against the attacks of the pres
ent day on individual and corporate
wealth.
His known friendship for John d.
Rockefeller created the belief that his
speech was direct appeal for 'fair
play for the StandaE: oil chief The
belief was strengthened b. Dr. An
dTCws- frequent laudatiou of the wealth
creating" rich. whom ne declared TO
be not only the true lriends OF the
workers. but tine real props OF pros
;erity.
Following Or. Andrews address de-
grees were conferred by Dean Wilbur.
OF Columbian College; Dean Phillips,
Of the department OF medicine. and
Dean Vance, Of the department Of law.
Just before this ceremony. Dr. An
drews wcs presented wiki a handsome
floral gift by the Brown University al
Cmni. of which Dean Wilbur and Prof
J. II Lindsey are the George Washing
ten University members.
Advocates Hanging for Libel.
In beginning his address. Dr. Andrews
denounced bitterly what he termed MALI
cious and willful Misrepresentation OF
the acts OF public or prominent men by
the press. After declaring his belief
that hanging should be the punishment
meted TO proved libeier. he said:
1T is the crowning baseness OF our
time which is saying good deal-this
selecting as n victim some character so
Ffeffrlr~frfGf I'd q DluraancV and
q market for your inventions. and then,
crafty avoiding suable libel and rely
ing for further protection on the victim
known kindness. industry. and dignity
proceeding to vivisect him for pay.
None Of the business Y1liainies alleged 10
he so rife could compare In atrocity with
these squcud cOmpaigns Of libel and
Ibelous car'cature which recent months
have produced.
I care not a straw for the rich as
such. Ny interest and sympathy are
solely with general society and the com
mon man. And. speaking AS a repre-
sentative Of the people at large, l urge
thst the pride idleness. and doubtful
practices OF a few rich are no just cause
for putting all rich men in pillory. The
possession OF wealth, however great
furnishes by itself no presumption
against the owners probity. If a man
eah fraudlessly become pOssessor OF Sle,-
OiG he can. n he works on with the
same zeal, skill. and power. not only
as easily. but more easily. secure $780,
000 $4,000, Sl,0Oo,o0o slOo,0oo'o0o.
Riches a Proof of Industry,
Jus here financial geniuses find op-
portunity Now and again arises up
amid the common throng of business
men one with the ability TO utilize 70
the end that semi-automatic power. to
set and keep this S100OO0.O00 earning
with the same precision governing his
FIRST investment lie combines Industry
With industry and effects saving. lie
takns advantage OF rivals errors ana
hesitancy- II he becomes a bilhonatre
YOU have no right TO denounce any
part of his fortune, save upon PROOF OF
fraud. The mere fact Of his being so
ricii is nauEht but proof OF his genius
and his industry
Dr. Andrews then undertook 10 show
that high prices ruled by reason Of the
consent Of the public. and not because
or mouOpOdstiC tendencies He said
The prices Of monopolized articles,
on lhe theory that competition ought to
FIX prices. since competition TO longer
exists I'm tEAse articles and no one can
say what prices II would fix II II did
exist, are subject 10 no principle what
ever. save the tolerance of the market
Nearly all the price advances which
monopoly has produced are acqulesceu
In BY the public. Complaint continues
only in respect 10 a few articles. nut II
c1n easily lie shown that the more OF
less recently advanced cost IN these
cases Is due to precisely the same
: causes affecting the cost OF our living
at every point
Competitive Prices Not Sound.
eft IS more and more seen that no
soundness attaches TO competitive prices.
Price fixing by competition is noe a
fundamental operation, parallel with
,,rIce-dxiEg BY market tolerance. II is
only a special case OF market-toieranCe'
this latter being the general phe-
nolnenon and competition special form
Are consumers. then. in respect to
prices, at the mercy OF dealers. Ian
they charge Us whatever they please,
and must we pay or go without Not
ut all Relentless as Is The law tldt
while monopoly lasts the price Will stay
rear the tolerance OF the market. deal
Crs charging you. namely. all the 'Ual-
fis. will beaf. equally ineNorable is Ire
law that no price can stay above this
limit
Suppose silk hats under competition.
Feli at SC. Combination may force them
20 $3.50 or s.. bat no power on earth
could drive them TO SO Let sellers lind
that a price Is 80 nigh as TO bloc6 net
TIolits. you need no legislation or con-
sumers' leagues 10 make them come
down"
AS for the idle rich. Dr. Andrews be-
Iieves that the impost OF heavy death
and inheritance tax is as far as the
state could go safely at the present
time We denounced socialism. and in
conciudI 2, SAID that despite lne COM
munistic ClamOr OF today. he maintained
? that the production Of wealth IS still the
greatest factor in human progress, tow
ering In Importance above every dues-
ton touching the distribution or wealth
titles.
At the conclusion OF the convocation
ceremonies a luncheon was given to DIR.
Andrews by the trustees and members
OF the George Washington University
council This was followed by a meet
in OF the board Of trustees.