The Washington herald., 1915-03-02
The Shackles of LEGISLATION.

The Shackles Of Legislation.
1t was stated publicly by George w. Perkins
recently. at time when he in the course of
an examination upon the witness stand. that legs-
lation adopted within the past ten fifteen years
with the intention of correcting abuses in bust
ness life has entailed losses distress, impairment
of confidence many times in excess of whatever
harm may have been done by improper manage
ment OF business
Mr.. Perkins statement could have been forti-
fed by him with facts. Estimates which have been
made recently showing in figures the losses oc-
casoned by impairment of capital, reduction or
suspension OF dividends, the passing of interest
and in addition the great falling off in wages reach
aggregate figure staggering in amount.
Mr.. Perkins is not the only of good in
formation and wide experience who has in like
manner complained of the disastrous effect Of
State and national legislation, ostensbly passed
Tor the purpose OF purifying business life.
When great bodies OF representative business men,
such for instance ; the Railway Business Associa-
ton or those who arc occupied in our foreign
trade, meet the common topic OF discussion, at
least informal, is the wocful business situation
which has been caused by crude and drastic leg
islation. 1t is commonly remarked that even it
there were evils nevertheless the applied remedy
has been far more harmful than the disease could
possibly have been.
Within few days James J. Hill has spoken
Of recent legislation with any approval but
saving that it will tend still further to
impair business confidence. The great merchants
and statesmen who occupied with
foreign trade, and who hope greatly to increase ii.
confess that they in doubt respecting the APP
Tlicatou of the Sherman law 20 trade combna-
lions organized for the purpose OF exclusively
foreign trade. Only ono opinion
is held by those who arc engaged in this trade
and that is that ii tho United States is to take
OF present opportunities is vital and
for several reasons that combinations Of those en-
gagged in foreign trade be permitted.
Within d few days New York City La, been
brought face to face with extraordinary cmcr-
scncy caused by purely political and dcmagogic
statute passed by the Legislature years ago.
The highest court OF the State has declared that
tho statute must stand since it within the
power OF the legislature to pass it. Yet the en-
iorccmcnt OF this law will entail the discharge OF
some 10000 workmcn who employed upon the
new >ubways because they aliens. 1t will be
impossible for tho contractors or for the city OF
New York to fiji the places OF these aliens with
citizens OF the United States of New York State.
The work these aliens do is chiefly tho work OF
abOrcr>. The statute passed at the request
OF some who professcd to represent labor unions
and its passage was the work OF the politicians OF
New York State. \ ct it may cost the city OF
New York not only a great deal OF money, but
also delay tell for how long in the
construction OF the subways, and somebody must
foot this bill.
There is 10 member OF the Merchants Asso-
citation OF New York VINO does not believe that
various regulations, various cxactions by statu
tory enactment upon the method OF carrying on
have served greatly to diminish our
business lie and are also serving 10 prevent the
acquisition OF fresh capital.
At this time when unexamped opportunities
are opening to the United States when men
Of finance with mastery skill handling the
,tupcndous financial problems occasoned by the
European war and when the beligercnt nations
and some OF the neutral we'll buying
American commodities in enormous quantities,
t seems inconsistent that our domestic business
lie is hampercd, impaired and in many stag
lated because legislative remedies for alleged bus
ness abuses have occa>ioncd greater misery and
o>ecs than any or all these abuses have done.