The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-04-20
THE SUN, MONDAY, APRIL 20, 1914.
upon all who suffer from the odium due

upon all who suffer from the odium due
to success"
If there were added to that statement
the fact that prevailing politics and all
governmental action not legislation alone,
have proceeded on . principle Of destruc-
ton, the declaration would constitute .
key to the present business problem.
Litigation to break up corporate COM
binations whose very combination was
advantageous to the country IL having
its outcome in the increase Of unemploy-
ment and the steady slowing down Of
general business Foreign policies adopted
on the theory that there was Illicit profit
for business interests in a reciprocity be-
tween diplomacy and commerce have con-
tributed to the same end OF business de.
preston. Laws and regulations DELHI
erately designed to affiict the railroads
have brought about . great lessening OF
one normal impetus to the forward move
ment Of trade and industry. New legfsla-
ton. especially the legislation Of last year.
and the new legislation now projected at
Washington have been framed on . plan
OF antagonism to large scale enterprise.
What the stock market has been re-
fectlng has been more than anything else
the consequence of political curtailment Of
incentive to new enterprise, particularly
new enterprise promoted and pvt through
In . large way by men Of large affairs
grouped at large centres and command
ing. through the confidence reposed in
them. control over large resources II IL
big enterprise which makes for abundant
prosperity in 30 huge a country as ours,
so favored by boundless opportunity. II
is not multltudinous little business, i'm
portant and essential as that u to sup
plying ordinary consumptive require
ments. 1t In big business catering to q
growing appetite that makes for expansive
industry in the United States Yet II Is
precisely against mere bignesa. the size
Of corporate organizations. the size Of
profits and the like that politics has been
levelling its attack. II Il now being seen
that the Interests OF one are the interests
OF all in this matter and that II big busi-
ness Is not prVsperously active little bust
ness Is less SO
Last years currency legislation was
poisoned by purpose. only partly
eliminated from the Federal reserve act,
to cripple the power OF large financial
centres. The administration OF the act
now begun by the reserve bank organiza-
ton committee has been in accorda nee
with this vicious purpose. II the securi-
ties market started to weaken in coin
cidence with the publication Of the new
Federal reserve map II II because the
map gave shock to the financial COM
munity by Its revelation Of intent to play
politics with the new financial machinery
Last years tariff revision was animated
were full OF plumber for protected in
terests. All the business experience Of
the past decade shows that the rising
costs OF doing business had gone far to
absorb whatever excess OF protection there
was in the tariff schedules before they
underwent revision, but experience was
condemned by the revisers. The outcome
Is that American trade and industry are
having great difficulty in adjusting them
selves to the basis OF duties which lack
an amount of protection apparently
needed to enable business to be done a,
all probably IN competition with other
countries where the adjustments OF bust
ness are not 30 light heartedly disturbed
by Government. Now comes the Nd
ministration with whole new budget
OF legislation designed to establish the
outlines of American business by the
creation Of 4 new calendar OF crimes, while
the class intent of the legislation Is EN-
phaszed by explicit sanction for the
trade union employment OF tho anarchic
boycott in labor disputes.
II our financial values and our busl-
ness enterprise were not resting on pretty
sound foundations the influences OF poll
tics would be even more damaging. For
these influences the people have their own
share OF past responsibility. but the polti-
clans to-day are overlooking the tendency
popularity encouraged Of late years. Pub
lie opinion Is retreating from the extreme
of revolutionary advance, and II the politi-
clans keep up the political forward march
they will soon find that they are leaders
without a following. Nevertheless until
the signs OF political reaction are more
manifest than they are to-day II is likely
that business interests will suffer from
the mischievous consequences Of destruc-
tive politics.