Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-05-23

! for defrauding the public. and is no
part of the business of the corporation.
The business begins with construction
and continues thru operation and bona
tide development.
"The measures which are being
adopted by some OF the state authori-
ties, and especially those by the fed
eral government, to prevent In the fu-
ture, the capitalization of rainbow col
ors. may seem somewhat drastic TO
those who have financial interests in
such capitalization, but they will ulti-
mately, greatly benefit the business In
terests of the country. and Will serve
to protect the smaller investors in par
ticular. from serious loss.
"a capitalist who Is not SATISFIED
with legitimate profits accruing to the
investment OF actual capital is greedy;
man who attempts to capitalize what
does not exist, is dishonest.
'.The business world Is constantly
growing larger in Its ideas, broader and
more altruistic In its methods.
Cry Against Graft None Too Loud.
"The business world has grown so
broad that many men OF the creditor
class would willingly see all collection
laws repealed; believing. as they do,
that these laws are a menace to the
highest and best development OF the
credit system. These men argue that
there are no collection laws which can
not be more or less successfully evad-
ed, and that a temptation to such
evasion Is the first tendency toward a
disregard of business ethics. To keep
the letter Of, the law. as that law is
humanity enacted and administered.
and to reap the momentary benefits
which inure to breaking the spirit of
| the law, is widely removed from an OBJ
servance Of the ethics Of business.
These advocates contend that were
there no compulsory collection laws.
upon the statute books of the state or
the nation. the credit system would be
established upon the basis OF char
acter and ability. A business man
seeking credit would simply furnish
acceptable credentials Of an honorable
record, business capacity and suffs-
Client capital. The element OF collec-
! ton by force would be eliminated
from the preliminary consideration;
greater care would be exercised in
granting credit favors: fewer debts
would remain unpaid; and less num-
Der Of irresponsible people would be
| engaged in business, or, contracting
debts for articles to supply their own
supposed personal wants. The millen-
Mum in business will arrive when
| there is no seeming necessity for col
| lection laws.
1.-THE world-our American corner Of
It, at least-is crying out against
graft (and the cry is none too loud)
which 1t Is said by some has reached.
in these days, its most aggravated
form OF virulence Our old citizens
have not forgotten the era which cul-
minated in the career Of Boss Tweed.
and the open and shameless declaration
| in political circles that to the victor
belongs the spoils'; that era in which
/ the aldermanic councils Of Chicago and
other large cities were In the market at
very reasonable figures; the same era
in which purchasing agents upon mod
crate salaries built fine houses; con-
tractors clerks suddenly became rich,
and there seemed to be an organized
rake off in all manner Of dealings.
Buying railroad for fifty millions
OF dollars, either with the capitalists
own funds and those Of his friends, or
paying for 1t from the treasury Of an
other railroad company, and then SO
manipulating the securities as to per-
nit the sale Of the road to the public
for hundred million of dollars, with
the expectation of the purchasers that
the producers and consumers Of the
1 1r,}11 1lvyia hnf
the genuine and the bogus stock is not
surance, deceit and crime, and it is
beginning to be recognized as such.
Business World Growing Better.
] THE world-the business worlds
growing better; and only ask that
you look about you to witness the
awakening Of the moral conscience, the
adoption and development Of a higher
code Of ethics, the successful efforts
| to make business less synonymous with
selfishness, and life something better
than mere money making and hoard
ing.
II am aware that there are mental
fingers pointing to the recent unearth-
ling by the government Of corruption in
what are termed high places: the
watering of stocks, and the wrecking
Of railroads by so-called financiers:
the immense fortunes, some Of which
have sprung into being without watt
ing for the natural elements Of growth;
and the general hue and cry that bust
ness In these days Is given over to
personal greed and merciless confisca-
ton. Did you ever stop to think in
this country OF eighty or ninety mill
lions Of people. many Of whom are
! wealthy and large majority of whom
are or might be prosperous. you can,
in ten minutes, count all the men
whose names you have ever heard
or seen rightly or wrongly connected
with these nefarious businesses, or
more properly, gambling methods? Is
1t not possible that In our righteous in
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