New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-04-16
PERKINS ON BUSINESS
Fayors National Control. Accom-
panied by Publicity.
ONLY COURSE. SAYS BANKER

Trouble Not in New Business
Methods but Abuses Which
Have Crept In.
Cambridge. Mass. April 15.-Georse W.
Perkins a member of j. p Morgan & Co.
of New York. spoke before the Graduate
School of Administrative Science of Har-
ward University to-day. He discussed some
vital things in regard TO business In the
United States to-day. making plea for the
national control of corporations, accom-
pa MED By publicity. Mr.. Perkins said, in
part:
Without doubt the changes that have
been wrought IN business methods in the
United States IL recent years have amount
/ ed to a business revolution Scarcely any
line OF business is conducted to-day. or
could he conducted to-day. along the same
I lifeS that il was twenty-five years ago.
While these great changes have been IN
Z progress the country has prospered. its ma
4 terfal wealth has vastly increased, laDor
has been employed almost constantly, has
/ been better housed, atter clothed, and
wages have increase
! Coincident with all this has come the
existence and development OF large cor
porattons. which have not, after all. brought
! ruin and disaster TO the people, but instead
I have given TO the business OF the country
a stability that is 50 necessary At times
for Its protection. and, Furthermore have
made IL possible TO organize business-to
/ systematic II. 50 as TO save the waste and
minimize failures.
business methods? One would think. from
much OF the talk INDUCED in during re-
cent years, that they have teen brought
about by The Vaccinations OF a compare
lively few men. evil-mnded men, bent on
!seff-aggrandfZement. by methods that uftl-
mately viii ruin the entire country and
| pauDariZp the paDDie. that these same evil
minded men. endowed by the Almighty with
superior brains. would have accomplished
their purpose but for the timely and cour-
ageous interference OF worthy individuals
who have made heroic disinterested efforts
to save the country from such ruin and
thoroughly presented, TO doubt presented
often by people who have been honest in
their belief IN It. but, ] venture 70 say.
think deeply enough. did not investigate
but accepted and acted on superficial study
OF causes.
ask you 10 think, seriously, whether Il
has been so much the Vaccinations or
wicked men that have brought US where We
are, or the inventions and discoveries of the
age-inventions which. in themselves. have
been acclaimed and spplauded as great
achievements. Were these inventions simply
70 he laid away on a shelf, OF we're they 20
be put TO practical use? Was the long dts
tsnce telephone 10 be plaything or prac-
teal instrument Of commerce? Why ap
piaUd the inventor and berate the user?
( Inventions Have Helped Business.
/ Mr.. Perkins said that there would be no
: large business concerns and that the eoun-
/ try would not he troubled with some OF the
! business questions now enga ging public at
tention IL with one sweep Of the md the
inventions and discoveries of the ase coald
/ be wiped out and the country put back into
the Condition under which business had to
( be transacted fifty years ago. He con-
tinue5
The trounie has not been IN the new
business methods adcp pied in recent years.
! bat rather I'm the abuse, that have crept
I into bRsiness-flrst. because of a selfish de-
sire on the part of soma to get an undue
advantage which unusual opportunities un-
/ der our new conditions have offered: sec
! ord, because of mistakes which, in some
cases could have been avoided, and IN
/ other cases could not have been, on account
OF the rapidity with which new devices and
methods have been Introduced IN business.
/ have never been business men; scarcely
/ any of our business men have eyer been
| lawmakers. II has been like two hostile
armies srrayed against each other. As the
! lawmakers have been the speochmakers
| their SIDE of the case has been constantly
presented 10 the public. The business men
exceptions, and only In tho last few years
has anything on their side OF the case
been said: and In this one-sided way the
case has gone before the public.
IT seems to me the trouble is that in
altering old laws and I'm making new laws
concerning trade conditions legislators have
not realized what has caused the great
changes in the commercial world: they
have considered results more than they
I have studied causes; they have not realized
that 9 stupendous change through natural
causes. has been taking place. they do not
| see that. through natural causes. tho world
over, large business concerns arc taking
the place Of small ones; for no one man
no firm, no small company, could provide
the capital or the orsa nizstion necessary
. 1 10 cone with tho r0flHift0ps
| other hand. business men, in many in
! stances, have not been willing 20 have
| any new laws passed stiy old laws
! altered; they have taken the position that
| business should ne let entirely alone: that
IT was no affair Of the public.
GIsring Abuses in Business Msthods.
The people had witnessed glazing abuses IN
business methods said the speaker. They
had suffered under these for many years
and had found no remedy, having been told
that these abuses came about largely be-
cause of the size to which certain business
enterprises had grown. How un-Ameri-
can 10 be afraid Of thing because II is
large" Mr.. Perkins said, adding:
The true American. he VINO thinks deeJ-
~, logically, has no such fear or belief
! II. isn't the size that he fears: Il is the
methods followed. He fears the man
agement of a giant enterprise that is Sc
/ cretiye. that does not respect public oDiu-
| shares are owned by the public its man
ayers are substantially public servants
| He fears the methods OF tho blind pool
that Is all. He wants to know, and he has
I right TO know. from disinterested third
parties. what is being done by a great bust
ness enterprise In which his money is
invested, OF which is handling a commcd
lily that affects his daily NE The officers
OF great corporations should realize that
I such concerns are more nearly public in
, situations than private property | firmly
believe that substantial progress in this di-
rection is being made While the agita-
ton of the last few years has been unfair
and harmful Ia many instances, on the
other hand II has set business men think
! ing, has awakened the business conscience
aud has brought a new realization of the
. fact that il Is as true or business as if l.
Of the individual that there is no pern1a-
pent success unless it is based upon in
tegrity 81 character. .
Let those Of who are in business no
fair with the people and the people will he
fair with US; let us see and accept the ton
dency of the times: let US realize our re-
! sponsibilities, and our problems will be far
easier OF solution
TIE real question is not Shall we amend
! the Sherman antitrust law bur M ther
I Shall we restrict the use or steam and
! electricity?' Electricity in the hands of
! man is the creator of all modern cornora-
4 Q