The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1914-06-12
FOUNDATIONS
OF CONFIDENCE"

Omaha World Herald: The Spring.
field republican calls attention to zone
very important cause of the unsatis-
factory business condition which can
not be hidden by any arnoun of do
nuciation of politics and demagog-
ism 1t is a aus which Col. Roose-
welt did not mention when he heaped
blame on the democratic admin1stra
tion at Washington. 1t is a cause sell
dom If ever alluded to by politicians
and business men who charge Q
tile" and threatening" legislation
with the responsibility for business
distress. corporate finance and cor
porate management in this country"
says the republican, bluntly, are d.
rectly responsible for very much or the
public distrust and lack Of confidence
which make a forward movement IN
American business SO hesitant at this
time" And the republican
as a convincing witness the Railway
Age Gazette, a very conservative pup
LEGATION that no one could accuse OF
ulfriendliness to the large anc
and corporate interests. The Gazette
speaks out in meeting in this candid
fashion:
The New Haven is not the only rail
way that has been Mellenized, and
such revelations as have been MAGE
regarding the financial management OF
SOME roads are enough to shake sub
lie confidence in railroad management
in this country. The situation is worse
that that. They are enough to Stake
the foundations of the confidence of
the people of this and of other COIN
tries in the financial management or
all kinds Of business concerns in
America, for the men directly or in
5inanE11y Vncnnncih1a Far thu f91iSY1an-
agement of railroads are as largely
interested and as potent in manufac.
turing, mining and other industries as
they are in the railroad business.
The great danger is that the dis
closures regarding the conduct Of The
Mellens, the Yoakums and the rest OF
their ilk, will cause the passags CT
more radical legislation than the con-
dition justify. If excessively drastic
legislation shall be passed, we trust
that there will be no ~hypocritical
waiting from Wall street about ignor-
ant public hostility toward railways
and about the public being misled by
demagogs. The buccaneers in Wall
street and the fools and towards in
Wall Street, who let the buccaneers
work their wills, are the chief au-
thors of such legislation. 1t is a toss
upwhether the demagogs or the high
binders of finance are doing the more
to bring all the details of business un-
der the regulation Of public officials.
Eugene V. Debs, Morris Hillquit and
Upton Sinclair think that they are
the real leaders of the socialist move
ment in this country. They take them
selves too seriously, The real leaders
Of socialism in this country are such
men as Charles S. Mellen, B.. F. Yoa-
KUN and the directors Of the New
Haven, Frisco and other roads, who
are too crooked, cowardly, indolent or
incapable to perform the duties of
their position.
IF the people are looking for bot
tom causes of present business condi-
TONS" remarks the republican, they
should not overlook elements of that
character"
Who can gainsay it? Who can Won
der if those hundreds of thousands OF
people who save their money and are
anxious to invest it safely and profit
ably are timorous when they read
about the 'buccaneer' management
of large corporation properties Per
haps, if the truth were known, they
are even more afraid of dishonest man
ayers who plumber the corporations
than they are of the radical law.
makers who want to take steps to in
sure them honest management.