New-York tribune., 1908-12-17
ON WEALTH
TALKS OF IT'S PROBLEMS.
attacks Socialisr,-Praises Public
Service Board Idea.

Omaha, Dec 1s-The principal speaker At to-
day's exercises at the National Corn Exposition
Dr.. Jacob Could Schurn1an president Of Cor
nell University. who gave address On our
National Outlook in which he discussed the
problem Of great fortunes The immense concert
hall Of the exposition building was packed when
the distinguished educator was introduced ny
Charles G. Rosewat-r, chairman OF the nesting
Dr.. Schurran said that the majority Of the
problems interesting American voters were eco
nornic questions. the situation being intenslneo
here by the existence OF great and increasing ine-
qualities Of economic conditions. Inequalities OF
wealth he said rostcred socialism but the social
lists penaces would destroy the genius, energy ana
initiative of the individual.
The EociaIistic Eupposition that the stat. could
manage great Industrial enterprises as FeH as
private individuals. Dr. Schurman SAID vas -
futed every day by experience and observauon-
''Socialistio schemes. like government ownership
and control of railways the educator continued
'havs little attra ction for the American peopi7
They recognize that to buy the railroads. Lns
state or nation would need to borrow large sums
OF money, precisely the present owners lssu7
stock and bonds TO secure capital
Dr.. Schur7nan said that whtle he gladly recog-
nized that Improvement IN conditions nao oeen
effected he thought that ''the magic Of properly
must somehow touch the unproperCeo Classes
who must not be merely wage earners. hur must
also have "a stake in the community TINS PROC
lem he said seemed capable OF solution at the
hands Of great corporations. and he tnstanoed the
one hundred thousand workrnen are snarsnoioerS
He continued:
Colossal fortunes ar. on trial in this country'
Whether and how far II is worth while 70 encouI-
Te S 2n9 1o1eF5 PEo5f Of fh COUNT Vho viii answer will
have their sentiments and opinions fSr+nes
in their nfetimes. and the manner II wn;i Ira 9Ta
elSpoSe OF Thfa at a. Bic IS likely to be overlooked
by radicals though it is essential to & JUS 20 fbe
Grafton Of the whole question alLuoe er+nas -
circumstance that, not 2nIy are gresI ~ go
15sda them than in any other hands but in obedi-
ence to economic laws they must be enployea, ~, n
benefit the consuming public and pay ~ase5 5erS -
y.t . life devoted solely 10 making money would
seem a sordid and wretcned one ana IN LLLS
is the testimony of -nnillionaires them
7 believe that the conduct Of few multi million
and shape the policy OF the public toward the phe
II tey use them in the interest Of the pub
lie the public will not begTudge them their sue
family the Consolidation of private interests. We
are likely 10 see attacks on ne exSths & =" de %
rich to die disgraced: that the community con-
more to the making of his fortune; and that the
community is entitled 70 It's snare waen me % GS
generally prevails, may fee assured tnat the
with satisfaction and advantage 10 the community
without interferenos on the PaT5 oI tne ne eIS nf
economic distribution is always frausht with % tne
ming OF revelution..-- e-
Turning then TO the subject OF legislation against
trusts Dr. Schurman said that II Just and wise
policy could he formulated and established in re-
gard TO the rights and obligations of the owners Of
great fortunes as well the claims Of the public
calm and impartial discussion Of the problem OF
trusts and corporations would be easier He said:
The simple fact Is that a large corporation So
trust is merely a mode Of organizing mod
eru business Il eliminates expenses, secures e1-
cheney. and by means Of production on q large
scale Cheapens the cost OF con1r1odlt1es .. -,
II is fyily to attempt TO legislate against the
nature Of things The Legislature cannot rein
state competition in tbs economic world when com
petition has given way il has in modern times
to combination. CoaseQ Quertly Il Is safe aB5erlon
that the antitrust Of 1890 must be repealed
public Congress can instruct busl-
ness men in the methods OF JransaCring their af-
fairs let the public and Congress have right
shall he no infringement of the rights OF the public
no injurious monopoly. no oppression eliher or
rivals consumers
So too q wise and tust solution of the problem
Of great fortunes will enable Us 70 take saner
view of railway and other public service corpora
tons The problem of the superVlsfon ana
regulation Of public service corporations hes, un-
der the statesmanslike leadership OF Governor
NeT York Two commissions have been estab-
I}zbe al n represent the state, which are clothed
u-rh larger powers and have authority 70 enforce
the CORPORATIONS the o0iiE7t tons which they
assumed when they received tneir iran nchlses
II the commissions assert the rights OF tne peo
rIa also recognize the rights OF the puhnc
CORPORATIONS Bur they never lose slght
IF the fact that the corporation. when Y has
ohiirsfions in the wav Of efficient service, at
raa s0rshfa cost which the state has right -
enforce AMI which the state, through these com
missions is actually enforcing,