The Birmingham age-herald., 1915-02-10

l Snouid business be free to enter into
 combination for the development of for
 eign commerce? In other words, does the sherman antitrust law forbid combina-
 tions whose exclusive purpose Is 10 se-
 cure foreign trade?
 Gradually it is being perceived by the
 people that men of business are now
 finding it the better part to discuss pub liely business principles and business op- portunities. Possibly the best illustra- I ton of agitation of that kind is fur
 nished by the organization created in 1896.
 non-partisan and solely for the purpose I of instructing the people with respect to
 the issue presented in the presidential l canvass of that year-namely. the single gold standard as opposed by the free I silver-at-sixteen-to -to-one dogma. The cam paign carried on by those who favored
 the single gold standard was far reach- ing and much of it was reflected in the publication and circulation in all parts of the United States of essays and articles written in such manner as to be free from abstract statement so as to be easily un- derstood by the readers.
 The presidential election returns in 1896 showed that this educating campaign had been effective, to a certain extent at least. Of course, with the adoption by
  organization was disbanded.
 After that for long time the business men of the United States confined their protest and complaints to occasional in- dividual utterance, hut principally to pri- vate conversations. The inCustfies whose products are chiefly purchased by the railroad companies of the United States perfected some eight years ago na- tional organization. It was intended through it to bring the attention of the people to important business questions and to furnish them with accurate infor- nation so that they could at last reach a sound judgment.
 The work of that organization has been remarkably successful It has been imi tated by others and within two years the great industries of the United States which have given much attention to the increase of our foreign trade have per fected an organization, hoping through it and by means of discussion and honora- ble agitation, thoroughly well to inform the people of what the opportunities for foreign trade are and what methods must be taken to secure it.
 Three years ago an organization was perfected to which the name of the Cham- Der of Commerce of the United States Of America was given. This organization reflected thoroughly the great modern business principle of coordination, or CO., operation, TOT there were DTOuSn nI to- gether representatives of substantially every Chamber of Commerce in the United States, every Board of Trade, many com- nercial bodies, and it represented approx imately 2T5,000 corporations In this way there could be brought together repre- sentatives of practically every activity in the United States.
 One of the purposes has been concen- tration of effort and the gathering of ad- a ipfOrna tipn which WOlil6 make such concentration possible Another purpose is well illustrated by the recent meeting at Washington, for at that time distinguished men who hold different views respecting some questions were to meet upon the platform and expound their views.
 Some of those who were called upon thus to speak were men of prominence in public life. The President himself accept ed with pleasure an invitation to ad dress the meeting.
 It is by intellectual contact of this kind that at last the public gets good under standing of the merits of any great ques- ton. One of those who were present at the convention has said since his return to New York, Jacob Schill was rgkt when he testified before the industrial commission that the people are always right" He, of course, meant that the people in the long run and after they have had opportunity to obtain correct in- formation are sure by a great majority to hold correct opinions.
 A great body of co-ordinated or fed erated organizations like this Chamber of Commerce is justified in expecting that the great minds of the nation will give heed tp it and will, if the opportunity offers, give it counsel. That the organ 'zation was correct in this view was made evident by the high character of tha mo xyh n ot hot vention. Reports brought to this city confirm the impression which had already been made here that, taking 1t as a whole, no great body representing Amer can business interests ever listened to a more distinguished group of men than those who addressed the convention.
 One of the master minds of the federal l Senate, Theodore E. Burton of Ohio, | spoke in such manner as to create a | profound impression. The Secretary of | Commerce, Mr. Redfeld, and the gover- | nor of the federal reserve board, Charles l S. Hamlin, as also the man who is prob | ably the best authority today upon the | important subject of rural credits, Myron | T. Herrick at one time governor of Ohio, l who has recently won permanent fame | by reason of his services in Paris during | the first three months of the European | war, made speeches.
 To this city there come reports that | the addresses which attracted especial at tention were those of President Wilson | and Samuel McRoberts, vice president of | the largest American bank. The PresI- | dents address would possibly have been received with even greater favor had he been a little more explicit. yet there is | real qualification that he should have re- vealed himself as one who is profound ly interested in the opportunity now open ing for the expansion of our foreign trade He wanted "to be shown" that combina- tions perfected solely for the purpose of | and facilitating foreign | trade are justifable. His manner seemed l to indicate that he thought that they might be- Yet at the St. Louis conven- ton thers was no question raised about | the importance and value of such com binations, the sole issue being this: Does the Sherman law prohibit combinations For foreign trade as 1t certainly does pro- hibit com binations in domestic trader?
 Therefore, it would seem as though the federal courts are the final authorities which will show President Wilson what | he desires to know.
 From that point of view of finance and | specially international finance, there is no better authority in the United States than MT. Roberts. His exposition of the relation of the federal reserve act to trade expansion is spoken of here as He is also said to have in- |ected into the address a single line con- taining a profound philosophy. He said that the United States is suffering from too much introspection. on intimating that win people or a nation as with an in- 1ividual state of mind of that kind is likely to become morbid.
 AnuosutoI Dncf