Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1909-02-22
concentrating
FINANCIAL POWER
Concentration OF FINANCIAL
and INDUSTRIAL power.
Does More TO Spread the Doctrine OF
Socialism Than all the SOCialiStiC
Propaganda. The Misuse of Con.
Centrafed Power, Not Envy, Is Re-
SpOnSibie.

If there be a good deal of social
ism in the air; if a novelty can no
longer be disposed Of summarily by
describing it as sOcialstic; If social
ism have won converts in those Sec
tions of the community where it was
lately nlusL waiIIIIy l.puuidted, 1t is
not due to the arguments of avOw-
ed socialists 1t is the result of the
remarkable concentration of industri-
ial and financial power in few
hands.
We are naturally and by Inherit
ance afraid of the one-man power,
Our government is one of checks and
balances. Our whole political system
is based upon the necessity of pro-
tecting the many from the few When
two-thirds of the iron and steel in
dustry of the country is controlled by
the men who can sit around one ta-
BILE, and one man controls railroad
systems from ocean to ocean and a
~ ..- .ge of all
the mileage of the country, it is in
evitable that the public should be
somewhat apprehensive and should
appeal for Legislative restrictions.
Socialism presents an absolute con-
centration of industry, but one in
which all the members of the com
munity are direct beneficaries. When
the concentration of industry ap-
proaches completeness in the hands
of few individuals who have no
responsibilities toward the cOmmun-
ity it is not strange that many per-
sons look to socialistic society as
an Improvement. Many years ago the
Vanderbilts d;vested themselves Of a
considerable part Of the New York |
Central ownership, and it was under
stood at the time that they did so as
precautionary measure. That was
probably the motive of the Pennsyl-
vania Railroad in selling it's hold
ings in a couple of partially COM
:. 'ir.u liros within car or two.
Mr.. Hartman is doing an ill-service
to the private ownership of railroads
in extending his already excessive
which the whole prosperity of the
country rests.
Not less than the concentration of
financial power does the attitude of
many of the great tinanciers toward
the government create popular dis
trust. At the Illinois dinner in New
York. the other day, Mr.. Gary, of the
Steel Corporation, uttered some very
serious words directing the attention
of men similarly placed to himself to
their obligations to the community.
ership and vested rights have to give
way before the larger interests of the
community; and he bespoke a cor
dial support of the government and
a disposition to meet public senti-
ment, instead of Il policy of cunning
evasiOns or circumventions Of the
law and a defiance of law and public |
opinion until the walls of the peni-
tentiary loom into sight.
If there be an unfriendly attitude
on the part of the public toward the !
great corporations it is mainly due |
to the attitude of the great corpora
tions toward the public. The Ameri- |
can noonln are rot nnrtioularly en- !
vlouS Oh huge fortunes, but they are
jealous u the concentration of pow /
er, and Mr.. Gray's judicious advice |
may well be taken to heart by the |
men who dominate the nations busi- |
ness. We would suggest that it |
might even be considered thought
fully by the managers of the Steel
Corporation.