American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1914-03-19
OUT IN THE OPEN

The demand of the present day is that business, big
as well as little, shall be done in the open, for the simple
reason that it has long been done in the dark. The people
can not see and understand what is being done. With but
few exceptions all business is carried on in secrecy, so
much so, indeed, that the very men who carry 1t on know
very little of what they have or are doing, what the actual
income is, whether the profits are safe or not, passing or
permanent. Partly as a result of the shock which has
come from the little knowledge that we have secured in
recent years of corporate affairs, partly as a result of the
few effective statutes which have been passed, but still
more as a result of an awakened and enlightened public
discussion, the feeling is growing in the business world
that business should not be conducted in the dark, but that
business should be done with all the facts known. Business
men are beginning to realize that the only way to secure
industrial and investing success is to decree that business
shall be carried on in the open.
Public discussion makes clear matters which are often
indistinct, unanalyzed and not understood. 1t clarifies is
sues, and gives right-minded men of good intentions prop
er support and approval
Well-informed public opinion, emphasizing the right
standards of conduct, is a farreaching influence for good
Only a few feel above the law, above the moral standards
of the community. Conditions as they have been-for
today they are already immeasurably improved-were OF
gradual development. Such publicity as we have had re-
Gently in business affairs, spasmodic and Incomplete as ii
has been, has nevertheless undeniably been productive OF
great good. Many standards have been established anC
accepted. Much that was done freely and as a matter OF
course ten years ago is now regarded as wrong and I'M
moral. A publicity statute would nave most valuable anC
far-reaching results.
Today, an almost impossible condition exists in bust
ness. Business men are supposed to make prices and tC
regulate production on the basic economic principles OF
supply and demand, but under the complicated conditions
that now exist in business, and under the secrecy with
which corporations are operated, the conditions OF supply
and demand are unknown. Men are called upon to de
termine a policy that will vitality affect themselves anC
other people, upon incomplete information. In many
businesses, the present fighting in the dark brings about
conditions that are as deplorable from every standpoint
as are the conditions in business where secret method:
have resulted in the suppression of competition. Cut
throat competitive conditions frequently arise from mis-
apprehension. The most disturbing influence in business
today is the false report of conditions which is made by
the buyer in his effort to discover weak points in the sell
ing market. Almost the only source of information that
a manufacturer has as to what his competitor is doing is
this antrustworthy information that is given to hun 10y
The buyer.
Action which is most unjust and deplorable is fire.
quently taken upon this false information; and this ac
ton would not be taken if the truth had been known