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

would wish TO see II brought about
with as few, as slight, as easy and
simple business readjustments 8 pos
sible in the circumstances, nothing
essential disturbed, nothing torn UP
by the roots, no parts rent asunocT
which can be left in wholesome com
binatiOn.
fortunately, no measures Of sweep
ing or novel change are necessary. II
will be understood that our object is
not to unscttlc business or anywhere
seriously TO break its established
courses athwart on the contrary, y.
desire the laws We are now about 10
pass 10 be the bulwarks and safe
guards ~ industry against the forces
that have disturbed It, What We have
10 do can he done in new spirit
in thoughtful moderation. without
revolution Of an untOward kind.
Monopoly lndefensibIe.
We are all agreed that private mo-
nopoly IL indefensib'- and intOlerable,
d our program is founded upon that
conviction. 1t win be a COmprehen-
sive but not a radical or unacceptable
program, and these are It's items, the
changes which opinion deliberately
sanctions and for which business
waits.
first place, for laws which will eff &C
tualIy prohibit and prevent such in
terlockings OF the personnel Of the
directorates Of great corporations ~
banks and railroads, industrial. com
merCial and public service bodies as
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 ~
compete, In fact partners and masters
Of some whole 1eld of busness Suf-
ficisnt time should be allowed, NJ
course in which to effect these
changes Of organization without IN
convenience or confusion.
such a prohibition win work much
more than 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 a Chance.
1T will bring new men, new en-
eTgies, a new spirit Of initiative. new
blood into the management OF our
great business enterprises. II will
open the field of industrial develop
nent and origination to scores OF
men who have been obliged to serve
when their abilities entitled them
to direct 1t will immensely hearter
the young men coming on and viii
greatly enrich the business activities
of the whole country.
In the second place, business men
as well as those who direct public
affairs, now recognize with painful
clearness, the great harm and injus-
tiCe which mas been done to many
If 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 mar
who financed them and of other bust
ness enterprises which those mer
wished to promote.
The country is ready therefore tC
accept, and accept with relief as wei
as approval, a law which will confer
upon the Interstate Commerce Com
mission the power to superintend anC
regulate the financial operations by
which the railroads are henceforth t.
be supplied with the money they neeC
for their proper development TO meet
the rapidly growing requirements OF
the country for increased and i'm
proved facilities Of transportation. W.
can not postpone action in this mat
ter without leaving the railroads eX-
posed 10 many serious handiCaps anC
hazards; and the prosperity of the
railroads and the prosperity of the
country are inseparably connected.
Very Important Step.
Upon this question those who are
chiefly responsible for the actua
management and operation of tht
railroads have spoken very plainly
and very earnestly, with a purpose
we ought to be 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-anG
has suffered because It could not OBJ
tain further and more explicit legis-
lative detlnitive of the policy and
meaning Of the existing antitrust
laws Nothing hampers business like
uncertainty Nothing daunts or dis.
courages ii Ike the necessity to take
chances, to run the risk OF falling
under the condemnation of the law