The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-28
laws by those in authority. Of uncertain
meaning and understanding Of the stat

and binding rush Of that whirlwind Of
enterprise n achievement things were
done generally without any attempt at
concealment. in the open light of day
for every one to behold. the ethical and
legal nature OF which does not accord
with our present standards, and public
opinion permitted them 10 be done"
This is a frank admission: and II
gives greater force to Mr.. KAHN's
declaration that high finance. so
called, has been ms quick and willing
as any other element In the COM
munity to perceive the moral obliga-
tions Of a new era and to align itself
on their side:
II claim hat the mon in charge OF our
financial affairs are. and to be success
full must be. every whit a. honorable.
as patriotic. a. right thinking. a. anx-
lous for the good opinion Of their fellow
men as those In other walks Of life. In
every time OF crisis or dihiculty In the
~ h<t'Iss ITpIn tne war ol lnuSs
pcndcnce to tho present European war.
hnanciers have given striking proof OF
their devotion 70 the public veal. and
they may be depended upon to do 80
whcnSver and howsoever called upon"
He discerns an exaggerated view Of
the power Of finance, in the sense of
accumulated wealth. As a fact there
are very few financial houses Of great
wealth. The greatest fortunes have
been made. no in finance, but In
trades. industries and inventions.
F~inanciers In our generation. for en-
ample the late !. =. MORGAN and T..
II. HARTMAN, have exercised exceed
ingly great power: but their power
rested not in the fact that they were
financiers, but in the compelling force
of their unique personalities. They
would have been acknowledged lead
ers and have exercised the powers of
leadership In any other walk Of life.
The power Of mere wealth has de-
creased, is decreasing. and ought to
be and will he further diminished.
To enjoy the Indispensable respect
and confidence Of the investing public,
to preserve for itself the status and
repute to which 1t IL entitled. high
finance must in the future do Ger.
tain things and we summarize briefly
Mr. X AuN's prescrintiops.
!. II must carefully study and in
good faith conform to public opinion.
=. Instead OF avoiding publicity in
all OF its aspects. II should welcome
and seek ii. 1t must get more and
more out of the seclusion Of It's count
Ing rooms into the rough and tumble
of democracy get to know the people
and get known by them.
3. II must beware Of that insidious
tendency Of wealth to chill and $50.
late; seek and welcome contact with
the workaday world. SO as to remain
part and parcel Of 1t.
T.. In the political field. it must do
less kicking and more fighting. The
latent political power Of business IS
enormous. Wisely organized for right
purposes it would he irresistible.
Mr.. KAHN observes. in conclusion.
that If this country is to take full
advantage of the unparalleled oppor-
, tunities which the developments OF
the last two years have opened to It.
If in the severe competition coming
with peace II Is to hold its own. II
must not only not be hainpered by
unwisc and antlquated laws. "a It is
at present. but it must he intelligently
aided and fosrcred by the legislative
and administrative powers. II Is
only in America that the p~Xigencies
of politics receive frequently. II not
habitually. precedence over the ext
gcncies Of business. Let business men.
therefore. take their Ease directly to
the people, ms the railroads have been
doing Of late with encouraging re,
. suits, "and inaugurate a campaign OF
education In sound economics, sound
HHuil'e anu ShHllu nuSlIeSS nTlIiVl-
pies"
We think Il will strike most read,
> crs Of the foregoing that Mr.. KAHN's
speech 10 the newspaper publishers
affords an excellent illustration OF
! how such n campaign should be inau-
gurated. His moderate and reasonable
attitud" wins n hearing for his scnsi,
: bic views, and the present period OF
comparative good feeling l. favorable
for the establishment Of better rcla.
tions between the people and what is
called high finance; relations tina,
= will ho Indispensable in the years
e Immediately ahead of us all. during
which the country Is sure to en-
counter economic and financial prob
: lens Of far reaching Importance.