The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-01-21

now be their spokesman. That Is the
prophecy of what viii ensue when ' our
reasonable work is done.
When serious contest ends. when
mon unite In opinion and purpose. those
who are to change their ways of bust
ness joining with those who ask for
inc change. II Is possible to effect it
IN fho, the way In which prudent and
wish TO see II brought about, with as
rev. as slight, as easy and simple bust
circumstances nothing essential dis
turbed. nothing torn up by the roots, no
parts rent asunder which can be left
In wholesome combination. Fortu-
nateiy, no measures OF sweeping or
novel change are necessary. 1t will
be understood that our object is not
riously to break it's established courses
athwart. On the contrary. we desire
be tho btlwarks and safeguards of in
dustry 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.
Comprehensive, NOT Radical.
WI We are all agreed that private mo.
and our program is founded upen P fhat
conviction. 1t will BIO a comprehensive
but not n radical or unacceptable pro-
changes which opinion deliberately
sanctions. and for which business
waits:
It waits with acquiescence. In the
first place. for laws which will effec-
tualiy prohibit and prevent such inter
iockings Of the personnel of the direc-
and railroads. Industrial. commercial
and public service bodies-as in effect
result in making those who borrow and
those who lend practically one and the
same. those who sell and those who buy
Dut the same persons trading with one
another under different names and In
" IN
affect to compete in fact partners and
masters Of some whole field of bust
ed. OF course, in which to effect these
changes OF organization without in
convenience or confusion.
Such prohibition Will work much
more than mere negative good by
! correcting the serious evils which have
have besa tho dfTaR shifts 1hs
the great Investment banks have
usurped the place which belongs to
working in its own behoof 1t will
bring new men. new energies. a new
Spirit of initiative, new blood. into the
terprises. 1t will open the field of In
dustrial development and origination
to scores of men who have been Obliged
them to direct. 1t will Immensely
n a.iaI .e the young men coming on, and
ties of the whole country.
In the second place. business men as
we'll as those who direct public affairs
now recognize, and recognize with pain
full clearness the great harm and in
Justice which has been done to many,
II not all. of tho great railroad systems
they have been financed and their own
distinctive interests subordinated to
the interests Of the men who financed
them and Of other business enterprises
which those men wished to promote.
The country is ready, therefore. to ac-
"a I'M ar
state Commerce Commission tho power
TO supcrintend and regulate the fnan-
are henceforth to be supplied with the
money they need for their proper de-
yelopment to meet the rapidly grow
creased and improved facilities OF trans
portation. We cannot postpone action
In this matter without leaving the rail-
ROADS exposed to many serious handi-
caps and hazards; and the prosperity
Of the railroads and the prosperity Of
Upon this question those who are chiefly
responsible for the actual management
and operation of the railroads have
spoken very plainly and very earnestly,
with purpose we ought to be quick
to accept. 1t will BIO one step, and a
very important one, toward the neces-
auction from the business of transport
tation.
Hnmpered by Uncertainty.
The business of the country awaits
also. hes long awaited and has suffered
because it could pot obtain. further and
mo eof H6piielt legislative definition. OF
antitrust law. Nothing hampers bust
ness like uncertainty. Nothing daunts
take chances. to run the risk of falling
under the condemnation of the law be-
fore Iore it can make sure just what the
miliar with the actual processes and
methods of monopoly and Of the many
hurtful restraints OF trade to make
limits of what experience has disclosed
Ihese practices. being now abundantly
disclosed 9. ssl can be explicitly and item by
as will practically eliminate uncere
tainty. the law itself and the penalty
being made equally plain.
And the business men of the country
desire something more than that the
menace men &c of legal process in these mat
Ihey desire the advice. the definite
guidance and information which can
be supplied by. an administrative body
an interstate trade commission
The opinion of the country would In
stantly approve of such Il commission
1t would not wish to see it empowered
any sort. to assume control Of bust
ness. as II the government made Itself
responsible. 1t demands such a COM
strument OF information and publicity
as clearing house for the facts by
which both the public. mind and the
managers OF great business undertake
ings should DO guided, and as an in
strumentality for doing Justice to bust
ness where the processes of the courts
or the natural forces of correction out
side the courts are inadequate to adj
Just the remedy to the wrong in n way
that VIII meet all the equities and cir
cumstances Of the case.
Producing industries, for example
which have. passed tho point up to
which combination may be consistent
with the public interest and the free
dom of trade, cannot always be dis
sected into their component units as
readily as. railroad companies or SINH
lar organizations can be. Their dis
solution by ordinary legal process may
oftentimes involve financial conse-
quences likely to overwhelnis the soss
curity market and bring upon II breaRy
down and confusion. There ought to
be. an administrative commission ca
pable of directing and shaping such
corrective processes. not only in aid
OF the courts. but also by independent
suggestion, If necessary.
Meet business Half Way.
Inasrnuch as our object and the spirit
OF our action In these matters Is to
meet business half way in it's pro-