Evening journal., 1914-01-20
continued from First Page.

Of accommodation and mutual under
standing which we now breathe with I
50 much refreshment is matter of SIM
cere CONCENTRATION Il ought to
make our task very much less diff
cult and embarrassing than II would
have been had we been Obliged to
continue to act amidst the atmos-
phere Of suspicion and antagon-
ism which has so long made 1t I'M
possible TO approach such questions
with dispassionate fairness. Con-
structive legislation, when success
ful, is always the embodiment of con-
vincing experience, and of the mature.
pubic opinion which finally springs
out Of that experience. Legislation is
a business of Interpretation, not Of
origination; and It Is now plain what
the opinion is to which We must give
effect in this matter. 1t is not recent
or hasty opinion. 1t springs out of
the experience of a whole generation.
It has clarified itself by long contest
and those who for long time battled
with it and sought to change It are
now frankly and honorably yielding
to il and seeking to conform their
actions to it.
Way of Liberty the Way Of Peace.
The great business men who or
ganized and financed monopoly and
those who administered it in actual
everyday transactions have year af-
ter year, until now, either denied its
existence or justified It as necessary
for the effective maintenance and de-
velopment of the vast business pro-
cesses of the country in the modern
circumstances OF trade and manufac-
ture and finance; but all the while
opinion has made head against them.
The average business man is
convinced that the ways of liberty
are also the ways Of peace and the
ways OF success as we'll; and at last
the masters of business on the great
scale have begun to yield their pref
erence and purpose, perhaps their
Judgment also, in honorable surren-
der.
What we are purposing to do,
therefore, ia happily not to hamper or
interfere with business as enlighten-
ed business men prefer to do it, or
IN any sense to put 1t under the ban.
The antagonism between business
and government is over. We are now
about 70 give expression to the best
business Judgment of America, to
what we know to be the business
conscience and honor of the land. The
government and business men are
ready to meet each other half way
IN a common effort to square business
methods with both public opinion and
the law. The best informed men OF
the business world condemn the
methods and processes and conse-
ouences of monopoly as we condemn
them; and the instructive judgment
Of the vast majority OF business men
everywhere goes With them. We
shall now be their spokesmen. That
Is the strength Of cur position and
the sure prophecy Of what will en-
sue when our reasonable work Is
ionC.
When serious contest ends, when
men unite in opinion and purpose
those who are to change their ways
of business joining with those who
ask foI the change, it is possible L
eject Il in the way In which prudeu
and thoughtful and patriotic mel
aculd wish 20 see it brought about
With as few, as slight, as easy anC
simple business readjustments az
possible in .he circumstances, nO.h
.ng essential disturbed. nothing tori
,.p by the roots. no parts rent asun
Ger which can be left in wholesome
con bination. Fortunately, no meas
nres of sweeping or novel change arr
nfcesgary. 1t will be understoO,
hat cur object is not to unsettl
business or anywhere seriously =
sreak It's established courses athwari
On the contrary, we desire the law
Ha are now about to pass to be tn
ouiwarks and safeguards of industr
against the forces that have disturb
ca It, What we have to do can b
done ia a new spirit, in thoughtful
moderation, without revolution of an
nntoward kind
Private Monopoly Indefensible.
We are all agreed that private mo
nop0ly is indefensiblc and intolerable
and our program is founded upon tina
conviction. 1t win be a comprehensive
hut not a radical or unacceptable pre-
un.m. and these are its items, tn
changes which opinion deiberatel
sanctions and for which business waits
1t waits with acquiescence in th
first place, Tor laws which viii effectr
ally prohibit and prevent such intel
bookings of the personnel of the dire'
torates of great corporations. banks an
railroads, industrial, commercial, an
public service bodies--as in effect resu
in making those who borrow and thos
who lend practically one and the sam
those who sell and those who buy, bt
The same persons trading with one al
other under different names and in di
ferent combinations. and those who a
fect to compete in fact partners an
masters of some field of business. Sufl
.;ent time should be allowed, of cours
in which to effect these changes of o
,anization without Inconvenience or col
fusion.
"Such prohibition viii work mu'
more than more negative good by co
rectine the serious evils which ha'
arisen because. for example. the mi
who have been the directing spirits
the great investment banks, ma
nsurped the place which belongs to /
dependent industrial management wor
inc in its own behoof. II Will hrn
new men. new energies. q new spirit
initiative, new blood, into the manag
uent of our great business enterprls'
II will open the field OF industrial .
eelopment and origination OF scores
men who have been obliged to ser
when their abilities entitled them To {
rect IL will immensely hearten I
Young men coming ON and will great
enrich the business activities OF I
whole country.
sTn the second place, business men
woll rs those who direct public affa
now recognize. and recoguize with pa
fnl clearness. the great harm and inil
tice " ich has been done to many.
NOT all. of the great railroad syste
Of the country by the way in which I'll
I'D 4