Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-11-25
practical IDEALS" BY
DIR. GEORGE OTIS SMITH
Splendid Talk by the Director of the United
States Geological Survey Before the Students
of the University of Illinois-"The Real
Thing That the World Demands"

| The following is an abstract Of an
address on fractional Ideals" by DR..
George Otis Smith, director of the
United States Geological Survey. be-
fore the students Of the University OF
Illinois:
practical ideals" is more than an
apparent contradiction of terms-it
| is the real thing that the world de-
mands The practical ideal is the
| ideal in its everyday form that has
the power to uplift because it is firmly
braced on the ground.
| Altruistic democracy is not a mean
! ingless phrase. The Declaration OF
independence begins with altruism in
the appeal il makes for the pursuit of
happiness. Democracy in its essence
means equality of opportunity; its
function is to build up TO the higher
plane, not 70 cut down to dead level
And in our Constitution, the declared
purpose TO promote the general Wei
fare" is a guarantee that this nation
takes no narrow view of business
questions such as those now before
the American people. 1t is in human
welfare that ethics and economics find
common ground.
Too much stress can not be placed
upon the human factor in these prob
lens The student Of politics does
well to think less of artificial measures
of value To talk less of monometallic
or bimetailic standards and 10 realize
that the human standard is the real
measure. Reduced TO lowest terms,
property. whether real or per
sonal. gold or silver, prairie land or
slZyscraper. derives its value from
what mans labor has put into il or
can take out of it.
A working minority of American
citizens have come 70 realize that UNI
regulated private monopoly and good
citizenship are antagonistic terms.
and, now that popular clamor is Civ
ing place 10 sober second thought the
other side Of tho monopoly question is
receiving the consideration ii deserves;
there is a widespread recognition of
TIE common irteTdependence Of big
business and the general public. On
the one side, the people are realizing
that they are and have been in real
lily silent partners ii big business,
and now that there has come the
promise Of some regulation that will
in large part prevent monopolistic
Capitalization. the people are interest
ed in getting their share Of the re-
turns which can come only with oper-
alton at q profit. On Tho othe" hand.
the managers Of the large corpora
lions who are really the trustees Of
The investing public, are beginning 10
, see thar 4 certain financial security
goes with public confidence. The pub
tic can nor bc left out of the reckon
lrc. and that we'll rem enlbered atti-
. tUde toward the public SO tersely eX-
pressed 80 years ago ~ a pioneer in
railroad affairs does not pay dividends
today.
t. whom, then, belongs the reward
Of efficiency" ! find simple answer
70 that question il The opinions Of
th2 hisher courts. in the decisions Of
l'.i,iliC utility commissions. and in re-
ceny or pending legislation. Industrial
enterprises as conducted by corpora
tons are inherently cooperative.
Owner. workman. and consumer are
in reality partners and as such de-
serve to share in the profits. The
p-tlic can demand low prices only aft
er adequate profit has been provided
for capital and fair wages for labor
LIE l}dSdi p 4iiCiJ4t ~ SI-sl1 iIito
! o,nong all three partners seems TO ne
the cornerstone among the practical
ideals Of the present day.
The trouble with TOO many of the
business men Of the day. and especial
. IL with those who come to Washing :
ton 10 oppose new legislation. is their
nc2rsiC htedness. They can not see
, country wide public opinion and dc
not appreciate the obvious fact that
the financial centers are not also the
centers Of national thought. The re-
suit of this as l expressed it in con-
versation last winter with a New York
, gentleman who was largely interested
in water-power development. is tina,
the business interests oppose some
thing at one Congress which two years
later they would accept: but the mex,
Congress is already considering a more