New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-16
b,z. lsraely wiped out state hnss W
ooynyo.reisI undertakings. 49,.

IT, go 49,, Years ago In an address
4 made 81 Columbia Colleee 80 said
favor of governmental regulet'"' sanrsnae
I'VE have at Washington pl,,,nr.
Court, Membership in that most n. JlJ
able body is the goal OF eNeIy 49, snS
LAWYER IL for distinguished 81 - 80 :
ability. we honor LAWYERS Sy,e5ruIt lega
Questions why should we NOT hoioI "a
railroad men by promoting theIn ~ Eor
our most difficult railroad q'-s,.,,, n ratl-
example: III we had at Washington 10. La,,-
road board of control. and that poalo o,IiS
composed of practical railroad nleI; w." 49,
not membership in such a DpaIc, .oniS
gradually to be the goal OF Ia thinl;
that r. such board were con ~ -, -
practical railroad men II would De ~ ~
cially partial 10 railroad htefeS'0'
tainly not"
Publicity Great Safeguard.
Properly regulated publicity VIII n2t IL, III
fure any legitimate busness undertakings
and IS. in itself the greatest OF an s 10.
tiens and safeguards. IL Is, IN iac,. 1 r,,S,.
all that the public wants; Tor II 1870 az ~,
larry stated intervals the public Is iuI
sufficient information about given "u9F
ness, public opinion will do the rest. 1T.
The question of how the business o. tnIs
country shall be conducted In the 1utuIe
is, in its way. almost as great quess .tl,
now was the question OF slavery PIN.
70 the war. Some of US who beileVe INA
some substitute must be found tOl uls
ruthless competition that Is 80 deadly W
close-range fighting in business nave 49, 49,
endeavoring TO build a bridge from olo
methods to new, from barbarous coinpeti'
ton to humane corporation Whether %
not we will succeed and the structure Sals
~ carry only time can tell.
IF, as many of us believe. cooperation "
business must take and Is taking the place
OF rufnous competition. II ~ t. better lOl
capital. IL must be better for the consumer
and better for labor If il is to endure.
believe that he who thinks the problem out
carefully taking information from all sides
will be forced to the conclusion that the
principle of cooperation must largely TAX,
the place of competition. and that co
operation in its healthiest, most usetu
form can be much more effectively prac
tised by great corporations than small conf
panies or firms-fTst. because the officers
are more apt to regard themselves as ser
wants and not as owners. second, because
the relation Of the great corporation 10 Its
labor is an entirely different relation iron
that of the small corporation or the firm Il
its labor, in that the officers OF a grea
corporation irstinctivefy lose sight OF th'
interest of any one individual. and work
for what is the broadcast, most enduring In
terest Of the many
1T seems to De that the future has Its
choice OF three methods: First, co-opeTa
ton through the medium of corporation!
with federal regulation and control: second
governmental ownership and MANAGEMENT
third. socialism. Under the method Oh
large corporations regulated and SUPERVISED
by federal authority. with widely distribut
ed Ownership, and with labor interested "
the business, you have all the safeguards
and advantages that the most ardent adj
vocate of governmental ownership could de
sire. In broadly distributed ownership
among the public and labor. YOU distribute
profits to the people, and retain foT th'
benefit Of the business that one great neCes
ssfy factor whicn has done so much fol
American industry. viz individual initta
tive. You leave TO men the goal Of achieve
nlent: you Leave their ambition uH
hsmpered
we can back and fill. We can tark and
scoid We can threaten and abuse. vet there
will be but one Ultimate result, viz, prog
ress and growth.