The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-20
ERB SAYS BUSINESS
MUST BE LET ALONE
No Real Prosperity Unless
Legislators End Attacks
on Industry.
PLEA FOR RATE ADVANCE

TOLEDO. Nov. 1s.-In an address at
the annual banquet Of the Toledo Trans
portation Club tonight Newman Erb,
president Of the Minneapolis and st.
Louis Railroad. spoke on The Menace to
National Prosperity" After reviewing
the favorable condition Of the country
at the present time no attacked legisla-
ton against business. Mr.. Erb said in
part:
The enormous influx Of gold and the
additions to our national wealth which
we are already largely experiencing will
Inevitably quicken the arteries Of In
dustrial and commercial life. and Its
stimulation will be felt in every factory.
every activity and every home. We
pnust not. however. forget that The con-
ditions which bring about these results
are abnormal.
Prosperity Ii forced upon us in spite
Of the Republican or Democratic parties f;
In spite of politics m politicians in
spite OF free trade or tariff, and In the
face of lawless Legislation. which for
nearly ten years has been directed con-
tinuously with more or less virulence
against big business. big banks. big In
dustr'es and big men. The era Of pros
perity upon which we are now entering
must In my opinion end in serious re-
action II We do not profit by the bitter
experience of seven long years Of bust
ness recession. The conditions which
brought us to the verge of financial dis
aster last year o been remedied.
and under intoxication We are menaced
with the danger of overlooking and for
getting the factors which brought them
about.
Since 1907. excepting a year or two OF
partial recovery from the panic. the
country has experienced a business de-
preston which affected almost every
activity and which was SO far reaching
as TO paralyze nearly all Industries OF
the country.
1T was In 1907 that legislative
crusades against business were fully
launched and continued with intensifying
virulence throughout all the States until
successful enterprise fell little short Of
being considered evidence Of crime. No
one active In the worlds work could feel
himself safe from the unreasonable at
tack under tho III advised legislation
which was and TO some degree IL still
being featured by lawmakers. When,
therefore. We return TO normal conditions
or commercial II Industrial life, ARE
again forced to meet the competition Of
the worlds workshops and are con-
fronted with the necessity of dealing
will each other and with the world
under conditions which prevailed only a
little more than n year ago. We will ind
ourselves face TO face with reactionary
business conditions, unless We shall have
prepared ourselves for normal resump-
ton OF manufactures n with financial
safeguards.
1T goes without saying that the iegit-
Innate aim OF all governmental reRula-
ton should be constructive. not dcstruc-
tive TO build up. not destroy. and that
the Incentive for expansion. 80 indis-
pensable to national progress. should not
be impaired.
Il have confidence In the willingness
OF our people 10 lea with important is
sues fairly and properly.
AN Increase OF D per cent. IN all
freight rates would only approx
mately s~ix-tenths Of ! per cent. on all the
capital employed. n yet expensive and
protracted hearings have brought only
fractional response 10 applications thu
far made for relief"