Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-11
Forbes Believes President Will
Seek This Means as Aid in the
Settlement of Problems That
Are vexing the United States.
Business Expert Also Suggests
Roasting Entire System Of
CapitaIistic Directorates, Max
ing Them Truly Representative.
BY 3. c. FORBES.


NEW YORK, Jan. 10.--President
Wilson, if ] may hazard a e.less based
Oh no definite knowledge, will rec
ommend the formation of an indus
trial commission as one step toward
the solution of the nations Industrial
problems.
Instead of frightening business in
terests, such proposal would have a
good effect. This assertion may &C.
casion establishment, but it is made
after an exhaustive canvass of finan-
eial and industrial leaders.
find that the brainiest men of af-
fairs in the United States realize
something tangible must be done to
meet the universal dissatisfaction
with the existing methods of running
the country's business. The unrest,
the antagonism to capital, the clamor
for restrictive laws-all are having a
Gripping effect upon enterprises, and.
# continued, can not fail to hurt the
progress of the country.
| find wide differences of opinion
prevailing as to the best way to
bring industrial peace, but the ma
iority of thinking financiers, corpora =
ton officials and others interested in
big business are inclined to favor an
Industrial commission, with powers
similar to those possessed over rail-
roads by the Interstate Commerce
Commission. This innovation might
or might not, satisfy the public.
Present System Useless.
My own suggestion is that, in ad-
dition to appointing an industrial
commission, it will be necessary, in
order to insure an adequate measure
Of Industrial democracy, to recast our
entire system of capitalistic directo-
rates and to have small, well-paid
boards constituted along some such
lines as these:
one representative of the Federal
Government.
one representative of the employ
eeS.
one representative of nation
vide association of investors, prefer
ably an expert in the business han
died
The president and perhaps one 9TH
or official of each company.
Two, or perhaps three, financlers,
capitalists or others to represent those
having large holdings in the com
pany.
Have directors held directly respon-
eibIe for illegal acts; have frequent
lepurts made to stockholders; nave
every corporation doing an interstate
business under Federal charter, and
have all issues of securities Vlsed
by the industrial commission and for
HE railroads an Interstate Commerce
Commission.
There does not seem to be anything
evolutionary, contiscatory or de-
structively socialistic about such a
proposal
Need for Industrial Bodies.
Might it not remove pre1udlce
against mere bigness, and thus facil-
tate the upbuilding of American en-
erprises powerful enough to compete
successfully with foreign rivals in the
worlds markets?
Our troubles, in large part, have
sprung from the cross purposes oil
capital and the administration. The
unhealthy state of mind-indeed,
acute nervousness-Was created last
fall but now that the Government is
manifesting a distinctly friendly atti-
Jude toward large employers of labor.
better times should be expected. As
! read the business horoscope, the
history of 1914 will be shaped in no
slight degree by The handling OF these
vital matters.
l. The personnel of the Federal Re
serve Board, to be selected by the
President in a few days.
% The Interstate Commerce Com
missions decision on the Eastern
railroads application for per cent
advance in freight rates
8, The Administration antitrust
legislative program and its general
attitude toward the business inter-
eSts Of the country.
4. Developments in Mexico.
There are, of course. several prob
ems less within anyone's control
which will have more or less In
1uence upon the years developments
important factors to be taken into
consideration include:
t. How the tariff will work out in
Practice.
.. How the new banking machinery
VIII run at the start. (The benefits
OF the system, l SUSPECT. will prove
extremely limited-almost negligible
for quite a while.)
.. The crop prospects, and later the
actual nature of the harvests.
j.. The breadth and severity of the
trade reaction in other countries.
o. Developments in the money mar
"eL tAlthough money has been dear
ne recession in trade will bring
Gown rates if nothing untoWard hap
pens)
e, The attitude of foreign investor
.oWard American securities. (ThiS
VIII be governed chiefly by the tenor
OF The rate decisionD
tors
y. The attitude of capital at home
0Ward the administration.
y. And as fundamental and as far
'eain!ng as any other consideration
Tie spirit manifested by the people
o"aro our leaders in the fields OF
,nlhmerce, transportation and indus