Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-20

would wish to see it brought about,
with as few. as slight. rs easy and
simple business readtustments as pos
sible I'm the circumstances, nothing
essential disturbed. nothing torn up
by the roots, no parts rent asunder
which can be left in wholesome com
bination.
Fortuna telv, no measures Of sweep
ing or novel change are necessary. II
will be understood that our object ls
not to unsettle business or anywhere
seriously to break It's established
courses athwart on the contrary -
desire the laws we are now about TO
pass 10 be the bulwarks and safe
guards Of industry against the forces
that have disturbed H. What we have
10 do can be done in a new spirit,
in thoughtful moderation, without
revolution Of an untoWard kind.
Monopoly Indefensible.
We are all agreed that private mo-
nopoly is indefensible and intOlcra bic,
d our program is founded upon that
conviction. II will be a comprehen-
sive but not a radical or unaCcepta bic
program, and these are It's items, the
changes which opinion deliberately
sanctions and for which business
waits.
1T awaits with acquiescence, in the
first place, for laws which will cffac-
tually prohibit and prevent such in
terlockings OF the personnel or the
directorate- Of great CORPORATIONS -
banks and railroads, industrial. com
mercial and public service bodies-1s
In effect result In making those who
borrow and those who lend practical
~ one and the same, those who sell
and those who buy but the same per
sons trading with one another under
different names and in different COM
binations and those who affect 70
compete, in fact partners and masters
OF some whole Geld OF business Suf-
flcient time should be allowed, ct
course, in which to effect these
changes Of organization without in
convenience or confusion
Such a prohibition will work much
more than a mere negative good by
correcting the serious evils which
have arisen because, for example, the
men who have been the directing
spirits Of the great investment banks
have usurped the place which be
longs to Independent industrial man
agement working in It's own behoof.
To Give New Men Chance.
at will bring new men, new en-
ergies, a new spirit Of initiative, new
blood into the management of our
great business enterprises. II will
open the field of industrial develop
ment and origination to scores of
men who have been obliged to serve
when their abilities entitled them
to direct. It will immensely hearten
the young men coming on and will
greatly enrich the business activities
of the whole country.
I'm the second place, business men,
Il. II Ill
affairs, now recognize with painful
clearness. the great harm and intus-
tice which mas been done to many,
II not all, Of the great railroad sys-
tens of the country by the way in
which they have been financed and
their own distinctive interests subor-
dinated to the interests of the man
who financed them and of other bust
ness enterprises which those men
wished to promote.
The country Is ready therefore to
accept. and accept with relief as well
as approval, a law which will confer
upon the Interstate Commerce Com
mission the power to superintend and
regulate the financial operations by
which the railroads are henceforth to
be supplied with the money they need
for their proper development to meet
the rapidly growing requirements of
the country for increased and i'm
proved facilities of transportation We
can not postpone action in this mat
ter without leaving the railroads OK
posed to many serious handicaps and
hazards. and the prosperity of the
railroads and the prosperity Of the
country are inseparably connected.
A Very Important Step.
Upon this question those who are
chiefly responsible for the actual
management and operation Of the
railroads have spoken very plainly
and very earnestly, with a purpose
we ought 10 he quick to accept. II
will be one step, and very impor-
tant one, toward the necessary sep
aration of the business of the trans
portation companies.
The business OF the country
awaits also-has long waited-and
has suffered because II could not OBJ
tain further and more explicit legis-
lative deflnitive of the policy and
meaning of the existing antitrust
laws Nothing hampers business like
uncertainty. Nothing daunts or dis
courages It like the necessity to take
chances, to run the risk OF falling
under. tho cppaer, tint, Of /, "a,