Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1909-08-26
WOULD HARRIMAN'S RETIREMENT
DE A MISFORTUNE

(From the New York Journal Of Com
merce.)
Wall street and the stock market seem
to be n good deal concerned about the
state Of health Of Edward n. Hartmann
They appear to he figuring Cloom,ly upon
the effect Of his retirement from active
participation in railroad management
and financial schemes generally. II he
should disappear from the scene alto
gether they would apparently consider II
in the nature OF calamity that would
shake great values in the financial
world. If not In the world of industry and
trade. Does 20 much really depend upon
the health or even the life OF any one
man in this great and growing country.
and would the retirement from the stage
Of this particular individual be even a
misfortune, more Injurious or enduring
in its effect than the disappearance n
generation ago Of Jay Could, or the old
or Vanderbult?
Mr.. Hartman Is generally credited
with building up and welding together
a great system of transcontinental rail-
way. Of which the Union Pacific is the
main stem. and infusng vitality and
strength into other lines. It is not to be
denied that he displayed a good deal
OF constructive genius" in that kind Of
work. but ne undertook II at a time
when circumstances favored his efforts.
and it does not follow that something
akin to II would not have been nccom-
plished without him, and it is not GER
tain that the permanent effect would
not have been better At all events. what
he has done in that line IS done and
could BE maintained II his busy brain
and imperous temper took a rest and
gave others a better chance.
a good deal OF what this man has done
Is not of beneficial nature. and It will
have TO he undone. al n cost that may
fairly balance all that is advantageous in
his service In the railroad world The ex-
tent 10 which he has used the corpora
ton that he has been permitted TO con-
troll so long TO load upon It n mass of
securities Of other railroads and to sway
the speculative market for hts own and
others pront-or loss-has brought about
n situation that is distinctly perlous and
entails a difficult problem that others
will have to solve. He belongs to an era
of unregulnted corporate power in which
the Will of "nlaGnates" has been more
potent than public authority, and that
H"o pl'uGnt uDout COllpIINttlpIlS anu an
fcut!es calling for an attitude and n
type Of action different from his
different kind of Constructive gen
ius" Is needed now, one that will recog-
ni7e the interests OF the public rs supe-
rior to those OF capitalists and the reign
or law as more important than the rule
OF rnagnates In the realm OF transporta-
ton. Public authority and private enter
prise must work together instead Of be-
ing In antagonism or there will be n con-
flict fun ~ peril for the republic. Moral
considerations. Mt least considerations OF
Justice and fair dealing, must be OBJ
served, rather than tho right Of the
strong TO override the weak without
>cruple or restraint. From the point Of
view OF tho man himself Hartman ;
career and Its results in health and re-
putation do not seem worth while. hTe
country can get along without Its con-
tinuance of it's repetition.