The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1910-02-11

lions. have deliberately nationalized
them in size and scope: they can not
now be heard to object to a central
lied control which they themselves
have made necessary. They have
made their businesses truly govern.
mental in their effect on the people,
They can not now deny that the Gov
eminent is concerned therein.
AS guardian of the nations welfare,
the Government must see to it that
the ordinary standards of right and
fairness, which restrain our individual
citizens, shall also be applied to our
great modern businesses. It must
make sure that the business machin-
cry of the country shall be preserved
from UGH misuse as would ultimately
destroy it.
Conditions confront US which are
now determining the country's future.
A significant process of evolution is
going on within our commercial Or
ganization. Two types of corporate
managers are struggling for it's con.
troll. The one (like most busine 30
men. bases his success upon increas-
ing the efficiency of his organization;
he acquires and holds his business by
giving better service or lower prices.
The public thus shares the benefits of
his efficiency. It builds up our indus
trial strength.
The other succeeds, not by his own
merit, but by Gripping the efficiency
of competitors; by railway rebates, by
unfair competition, by commercial op-
preston, by public rights monopolized
for private gain; not by giving bet
ter service, but by unfairly prevent
ing others from giving any service.
If this process continues, it will sur
render the control of our commercial
forces to the commercial pirate, to
the injury of the nation and the unfair
ruin of individuals.
Through the Bureau of Corpora
tons, the Federal Government has
eliberately taken the side of the fair
user Of our commercial forces. This
instrument Of the Bureau in its work
has been efficient publicity" It has
reliedon the moral sense of the Amer.
lean people, and its compelling force
when concentrated intelligently on a
business wrong. It has reported to
the country, clearly and accurately,
the operations Of great industries.
Besides facts and their meaning have
been set forth in such brief and plain
shape as to be available through the
press for the average citizen. 1t has
thus evoked that intelligent public
opinion that will protect honest bust
ness and condemn unfair practices.
The situation is thus ready for d
complete system where % all impor
tant interstate-commerce corporations
shall regularly make reports to a fed
ereal agency; where (2) that agency
shall have the further right to verif,
and extend the facts presented
where 80 business transactions O
public interest shall be made publ.
safeguarding at the same time al
proper business secrets; where e.
there will be permanent meetinl
ground for cooperation and adjust
ment between the Government an,
business interests; and 60 whereof,
those corporations that deal fairl,
and openly shall correspondingly &C
quire public confidence and support.
In short, our great Interstate indus
tries must come under permanent 81
pervision. The Bureau has prove
that this can be secured in a rationa
: and effective way. A system of prat
tical publicity, with cooperation, vii
obtain that requisite for all wis
measures, reliable information.
will involve no drastic action.
will, indeed, forestall such action.
will bring together the Government
and the corporate manager in confer
ence and cooperation, which alon
can serve to adjust continuously tn
complex and changing RELATIONSHIP
between our business forces and tn
public welfare. 1t will direct agains
business evils the overwhelming fore
of public opinion. 1t will be backe
by, and make effective, penal la,
where prosecution is necessary. Sue
publicity will broadly prevent wron
beforehand instead of furnishing isc
lated cases afterwards. 1t will re
move unjust prejudice; it will improv
the standing of our corporate secur
ties, both at home and abroad; it will
tend toward more open and more uni
form corporate accounting. Finally
it will help to give our business ma
chinery that foundation of fairness
and openness and public machiner,