The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-30

crusade for economic liberty We may,
humanity speaking. be absolutely certain
that sooner or later In the near future
signs will be furnished OF popular content
with the advance that has been made. Fur
thermore we may count with equal conf
dence on the continuation Of the social or
SANITATION on the basis Of private prop
erty. Nevertheless II IL perhaps too ea-ly
yet for the spirit OF speculation. sensitive
as II Ia, to manifest itself In anticipations
Of this assured future.
There IL still too much indehniteness
about the long range conditions on which
private capital Ia to be politically per-
mitted to exploit profitable opportunities.
The problem OF democracy. AZ long as II
Ia disposed as are our modern democ-
racies to maintain the social organization
on the basis Of enterprise conducted and
promoted by private capital. Is to keep
itself from following too far the tend
communism. In all probability what
capital Is waiting for to-day, the waiting
which II denoted by the stagnation Of
speculation and the halt Of enterprise,
are signs Of the immediate solution which
society Is going to contrive for this prob
lem.
A long step has boon taken, even in our
own country. In the last few years In d.
minishing the preroyatives Of private
ownership OF property. While our modern
democratic maJ0rities are only slightly
communicate the new public terms and
conditions OF private property have proba-
bly, not been sufficiently outlined as yet
Tor capital to seek investment in those
avenues OF new enterprise in which in.
vestment must always be an economic ad-
venture far from devoid Of hazard.
no matter how Indispensable new enter.
prise may be to the progressive welfare
OF humanity. Suppose to continue with
the domestic application Of these consid-
erations political ideas current to-day
about the public utility aspects Of enter
prise and the degree to which private en-
terprise was affected with a paramount
public interest had been fashionable fifty
years ago. What development would the
United States have had In the last haif
century?
Upon the answer to this question. which
every man can give for himself, depends
ms comprehension OF the real issues in
VOWED In the pending application of the
Eastern railroads to make moderate
freight rate increases Expectations about
the direct consequence Of decision favor
able to the railroads may be optirnjsti-
cal!y exaggerated. but the broad social
significance OF the rate case Is the test
winch II anords OF economic enlighten-
ment In the democracy OF America
For several years the railroads have
been treated IN though the public inter-
est IN them was superior to every con-
Germ or the capital invested. A. a result
railroad enterprise. which has contributed
SO much TO the marvellous material deyel-
opment OF the United States, has been
brought by oppressive political regulation
to point where the future growth of the
county Is threatened. This Ii why there
Is so profound n conviction in discerning
and Intelligent quarters that II the modest
application OF the Eastern railroads for
relief In granted capital will begin to move
again along those enterprising directions
which must conduce to the restoration Of
general prosperity.
1t is not a few tens Of millions Of dol
lars or earnings. but a principle. which il
Mt stake in this matter. The danger OF
the moment Is not that the principle will
be denied. There II no evidence that the
American character has changed enough
for that. The danger is that concession
OF the principle may be no DELAYED that
the spirit OF enterprise will be 80 debil!-
tated by prolonged inaction as to make but
sluggish and hating response to the
encouragement vouchsafed.