Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1913-03-11
APPLY BRAKE
WITH CAUTION

In his special letter OF February 81.
Henry Cisws OF New YoTS refers TO
the Mexican difficulties, the threat
ened railroad strike and the illness OF
Mr.. Morgan. Mr.. Morgans affairs
are beyond doubt in excellent shape.
he SAYS. and should sudden death
happen to him their control viii be III
the hands OF exceptionally ao,e men.
50 no serious consequences should
follow.
Mr.. Clews then strikes into his Ia
vcrite topic of recent montss. the POI
litiCS1 equation. On which he remarks:
These three factors, however.
should be regarded as temporary or
superficial influences. Back OF them
stand considerations OF more per
manent and wide-reaehinE effect. Far
beyond Wall street and throughout the
business community OF the whole
United States there Is much concern
over the incoming administration.
There is no little anxiety concerning
10th the policy and the personnel OF
Mr. Wilson's cabinet Dir, Wilson's
theories are generally understood. They
contain much that is admirable and
necessary to the restoration OF poll
teal and industrial peace in the Unit
ed States. It is one. thing, however,
to diagnose case properly and quite
another to apply effective and judi
cious remedies. Mr.. Wilson must rec
ognize that he is now TO deal with con-
ditions and facts-not theories. He
has had no practical experience in
national affairs, though II Is to his ere
dit that he has made a capable, ell
cient and high-minded Governor OF the
State of New Jersey. Mr.. Wilson has
very decided and progressive theories
upon the most vital economic ques-
tons OF the day. All sound and dis
interested thinkers will agree with
him upon the necessity OF arresting
monopoly and getting back to reason
able and equitable competition, II we
wish to avert a political and social
crisis of the most dangerous charac-
ter. Such economic movements. how
ever, as have been at work in the
last fifteen or twenty years cannot be
arrested suddenly or violently. an
more than the Twentieth Century
Limited. could be stopped within the
length of a city block without disas-
trous results. The brakes will have
to be applied judiciously. Mr.. Taft
has been highly efficient in arresting
the trust mania, and under his adj
ministration effective restraint has
been steadily applied. Thus far no
serious results have followed, and the
dire consequences predicted over the
dissolution of our great corporations
have not materialized. and are fur
ther from sight than ever. Should
Mr.. Wilson carry out the policy of his.
predecessors in a moderate but per-
sistent manner, he will avoid business
decentralization. Should he, however,
start in too vigorously to break up
the present industrial system he may
provoke serious consequences; not
alone to himself and his party, but also
to the prosperity Of the country as a
whole. The. Sherman law Is being
gradually and soundly interpreted by
the Supreme Court of the United
States, which Is building up step by
step an effective barrier against mono
poly. 1t is to be hoped that Mr.. Will
son will recognize the. deltcacies as
well as the difficulties Of the prob
lem which he proposes to solve, and
will be satisfied by progressing one
step at a time. Mr.. Wilson's book on
the New Freedom just of the press.
reflects his particular theories. and
they will probably be extensively in
corporated into his inaugural address.
Needless to say. a sudden application
of these theories, would be reyolu-
tionary and highly demoralizing.