The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-04
PEOPLE IN SADDLE
IN BUSINESS WORLD
But They Must Be Careful Not
to Ride Big Business
to Death.
OLIVE BRANCH is WELCOMED
Administration Shows That 1t
Realizes True Jnwardncss
OF Situation.
OLIVE BRANCH is WELCOMED
ny II. c. FORBES.

New York. January 3.--Thc people
arc now in the saddle. But they must
ae careful not to ride big business TO
death
Let us Stay bad business But Amer
lea. IL IL is to lead the industrial ma
tons OF the earth. IL il is TO take fore
most place In the markets OF the world.
hoeds-lnust have-biS business.
Commercial pigmies cannot conquer
world markets. Able. alert. skilfully
equipped giants are necessary.
And take notice that the United
States viii need foreign outlets for its
products more and moro under
evolving conditions. One such organ
i3at:on as the United States Steel Cor
aoration can do, and has done, more
- bring foreign dollars to our shores
than n dozen picayunc concerns could
have won.
Happily. the administration is show
ing hat tt realizes the true inwardness
Of the situation.
President Wilson now favors CO.
operation with business men, not blind
warfare against them, rs some Of his
colleagues were wont to advise
Not unexpectedly, big business wei
comes tho outstrctchcd olive branch
]. l.. Morgan Il Co.'S decision 10 with
draw from. or at least reduce their
representation on, numbers OF rail-
read and banking dircctorates is in
line with tho general trend. Eut let
rot their action miSload the public into
believing that nothing more need now
be done. Reform has only begun. Its
completion is not TO he left to the vol
untarS conduct OF any private firm.
Time for Wise Action.
That n great measure OF industrial
democracy is coming no one in tune
with the times can fail TO see. The
carry responsi6ilty in interpreting
and in any WAY guiding public senti-
ment is 10 cndeavor, with all posi-
bic earnestness and energy. to Sc
cure wise instead Of unwise action,
rationalisn instead Of revolution, SAN
ltr instead OF premature socialism.
In preparing my scheme l specln-
cSiy stated that arbitrary domination
Of huge corporations by such interests
rs ]. r. Morgan & Co. George Il
Baker and others of their class could
not last. that the public would not
submit to it much longer.
The step just taken by the Morgan
people indicates that they. too. arc
beginning 10 realize this.
Let me here say. however, that Meth
or the government nor the public
would be wise 10 rush TO extremes in
ordering precinitate and absolute d-
Noicement between capitalistic inter-
ests and important corporations. Vim
dictiveness, n spirit OF revenge an in
discriminate desire 10 ruin Hnanciers
would work more harm than good
Having now got on top, the govern
incnt aud the people must act with
celebration. The future welfare Of
a!l should be the guiding considcra-
ton in passing restrictive Legislation.
Mere bigness must not be viewed
as badness.
Give the people generous share
ir directing the activities OF all cor
1,Nr
inss, but do not let spite enter into
lev laws 10 such an extent that men
of brilliant intellect of Judgment in
largo affairs of 1.,oveG. RIGHTEOUSNESS
VIII b. shut OUT fifrnf the colossal task
vi developing this great country's re-
sources in 4 way that viii bring at
lome, genuine. full-pail prosperity 10
aii Who arc willing to work and carve
Tor It's topmost place In the marts
ana markets Of tho world The work
VIII require all the brains the nation
Possesses
president wilson struck The right
note IN his recent message To Con
gross. Tho response from financial
industrial and commercial circles has
been gratifying Instead Of a battle
royal bctwceu The administration and
our financial giants. tho prospects are
;Aat necessafy--and acknowledgements
iustncnt Of our financial industrial
economic status Win be effected
smoothly and very successfully.
That there must he real readiust-
lnent something more than superficial
changes, Let Morgan & Co and o,hefs
Take 10 heart forthwith The change
90 FROM Dy the Morgan house does noc
touch the fundamentals Of the stu
alton The whole system of capital
!stic control of scores Of directorates
must be rccast. Make no mistake about