The Parma herald. (Parma, Idaho) 1903-1917, 1914-01-29

( ntoQ4 thet ~ deeirs the laws Ne arI
eev Ateut' "a pa4e q ~ the huIw&rtI
~ safeguards 81 Industry sgaisnt IN,
ferse~ thai have 1lstpfksd Il. What ".
- thsughtful moderation, without sov
ejp&ten o. any unkowefd kint.
We ere al egfeed that private mo-
ntyeiy = iR1efsnsIbls ana intossrsbIs
- pr programme e founded on that
e9uvtettoR. - will " : cempNrAtivs
81 rot . radical Or unacceptable pro-
sissses wsieS s,isson dsiiSssst ~
pkoettope en1 fer which bpninona waits:
III awaits with kcaufsscence. IN the
pr.c Dieee- for laws which Will effect-
eAlly prohibit es6 prevent such inter-
leeatng q The pessonnsi Of the direo~
terntee 81 great eorporations--banks
e2d public servtce bodies--as IN enact
reeuI( II making those who borrow and
these whe lend practically one and tho
peme, tho<a who sell and those who buy
The same parsons trading with one an
other Under dt4ereut namee and In dif-
f>fsst combiRAtions, and thoss who Al
ssos 70 compete y fact partners and
9u4icient time should be allowed. Of
ceurse IN which 10 sfsef these chsnres
q organizations. without inoonvsnisrcs
Or confusion.
such I prohibition win work much
moys than . msrs negative good BY
sorrsottnn the serious sviis which havs
arisen bscauss. for exempIs. the mon
who have bean the directing spirits OF
The great Investment banhs have
usufped the place which bslones TO In
dependent Industrial management
working IN IT. own bshoof. II viii
bring new msn. rew energies. = new
spirit Of Initiative new blood. into the
n -
tsrprisss. II win open tie neId Of in
dustriai development 20 scores OF men |
who have been obliged 10 serve when |
their abilities entitled them to direct. |
II Will Immensely bearten the young |
men coming on and viii greatly enrich |
The business activities Of tho whole
country.
In the second place. business mon AZ
we'll ~ those who direct public AFFAIRS
now recognise and recognise with pain
Fui cieArness. tho great harm and in
'ustics which has been done to many. IL
rot All. Of tbs great railroad systems
q the country BY the way In which
hey have been financed and their own |,
distinctive Interests subordinatod to the
interests Of the men who financed them
md Of other business enterprises which
hose men wished to promote The
country Ii ready. therefore. 10 accept, |,
md accept with relief. a. well a. APP ,
'roval Law which Win confer on the !
nterstnts commerce Commission tho ,
'ower 70 Euperintend and regulate the
'nanciai operations by which the rail- \
cads are henceforth TO be supuiied | =
nth the money they need for their n
ropsr development to meet the rapidly Ia
rowing requirements OF the country i
Or increased and Improved facilities OF | 6
APPROPRIATION We cannot postpone I
suon In this matter without leaving 4
no railroads exposed TO many serious n
anuicsps and hazards. and tho pros ii
Gritty Of tho railroads ana the pros n
Gritty or tho country are inseparably | n
,nnected. Upon this question those h
no are chieny responsible for the u
stuat management and operation OF h
10 railroads. have spoken very plain I,
and very earnestly. with a purpose
q ouSht 20 be quick to accept IA will !,
= one step. and a Very important one y,
ward the necessary separation OF the 4,
uaineps Of production from tho busl- y
ess OF transportation. :,
"Ihs business OF tho country awaits r,
10, has Ions awaited and has suffered /,
eeause II could not obtain. further and %
lore explicit legislative definition OF Il
70 poncy and meaning OF the existing b
nu-tfust law. Nothing hampers busi- Ia
esq iiHe uncertainty. Nothing daunta z,
or diseourases u like the necessity 10 q,
IKE chances, 10 run tho risk or falling O.
''~Ft Wv REORGANIZATION or tue law be- II
'rs u can make sure Just what the law il
surely ~e are sufficiently familiar Il
'lth tho actual processes and methods Al
monopoly and OF the many hurtful a
'stralnts OF trade TO make definition
ossib'e. Al any rate up TO the limits
what experience has disclosed. These
fscticer being now abundAntiy dla-
'osed- can Ia explicitly and Item by
en- forbidden BY statute In such terms A
, VIII practically eliminate uncertain
!. the law Itself and the penalty being y
'ads equally plain. IA
And the business men OF tho coun. 4,
~ desire something more than that .
no Wenaee OF legal process In the =
'atters be made explicit and inteili- y
ihie. They desire tho advice. tta s
<finite guidance and information .,
'hieh can be supplied by an admin !,
trHtive body. an Interstate trade =
The opinion Of tho country would n
'StAnuy approve % such commits <
on II would not wish to see Il en- r,
'~ered 20 make terms with monopoly
: IN any sort TO assume control or
iriness. as n the Government made
self responsible. II demands such a
'nmf<sion only AZ an indlspensabfel
strumsnt OF Information and pub II
,ity. as = clearing house for the facts n
which both the public mind and a.
70 managers OF great business under
ktnxs should be guided. and as an 10
strumentaiity for doing justice 10 "
isiness whore the processes OF the II
=.