The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-01-21

and purpose. those who are to
change their ways of business,
joining with those who ask for
tho change, it is possible to
effect it in the way in which
prudent and thoughtful and patri-
otic men would wish to see it
brought about, with as few, as
slight, as easy and simple business
readjustments as possible in the
circumstances, nothing essential
disturbed, nothing torn up by the
roots, no parts rent asunder, which
can be left in wholesome combina-
ton.
Fortunately, no measures Of
sweeping or novel change are neces-
snry. II will be understood that
our object is not TO unsettle bust
ness or anywhere seriously to break
its established courses athwart. On
the contrary, we desire the laws
we arc now about 10 pass to be the
bulwarks and safeguards of indus.
try against the forces that have
disturbed it. What we have to do
can be done in new spirit, in
thoughtful moderation. without
revolution OF any untoward kind.
Monopoly Indefensible.
We are all agreed that ''pri-
vate monopoly is indefeusible and
intolerable' ard our programme is
founded on that conviction. It will
be comparative but not a radical
or unacceptable programme, and
these are its items, the changes
which opinion deliberately sane
tions and for which business waits.
IL awaits with acquiescence, in
the first place, for laws which will
effectually prohibit and prevent
such interlockings of the personnel
of the directorates of great corpora
tions-banks and railroads, indus
trial, commercial and public service
bodies-as in effect result in MAX
ing those who borrow and those
who lend practically one and the
same, those who sell 2nd those who
buy, but the same persons trad
ing with one another under differ
ent names and in different combi-
nations, and those who affect 10
compete; in fact, partners and
masters of some whole field Of
business. Sufficient time should be
allowed of course, in which to eff
feet these changes of organizations,
without Inconvenience or confusion.
More Than Negative Good.
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 tho great
investment banks have usurped the
place which belongs to independent
industrial management working in
It's own behoof It will bring new
men, new energies, a new spirit of
initiative, new blood, into the man
agement of our great business en-
terprises. It will open the field OF
industrial development and origina-
tion to scores Of men who have been
obliged TO serve when their abili-
ties entitled them to direct. II
will immensely heartcn the young
men comm" on and will greatly
enrich the business activities Of the
whole country.
In the second place, business
men, as well as those who
direct public affairs, now rec
ognize, and recognize with
painful clearness, the great
harm and injustice which has been
done TO many, if not all, of the
great railroad systems of the coun-
try by the way in which they have
been financed and their own dis
tinctlve interests subordinated to
the interests of the men who fl
naDced them and of other business
enterprises which those men
wished to promote.
Ready for a Change.
The country is ready, therefore,
to accept, and accept with relief,
as we'll as approval, a law which
viii confer on the interstate com
merce commission the power to sn-
perintend and regulate the finan-
cial operations by which the rail
roads 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 cannot postpone action in
this matter without leaving the
railroads exposed TO many serious
handicaps and hazards, and the
prosperity Of the railroads and the
prosperity Of the country are in
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