Evening star., 1916-09-26

talking theories, and managing policies
without a sufficient knowledge OF the
facts upon which we were acting, and
therefore we have established what is
commission to study the conditions
with which legislation has to deal In
the matter of the relations of America
with foreign business transacuons. An
other eye created to see the facts! And
l am hopeful that I can find the men
who will see the facts and state them.
no matter whose opinion those facts
contradict. For an opinion ought al
ways to have a profound respect for a
fact; and when you once get the facts.
facts are necessarily defeated. I have
never found a really courageous man
who was afraid to put his opinion to
the test Of facts, or q morally sincere
to the facts when they were contrary
to his opinion. and the tariff commits
sion is going to look for the facts, no
matter who is hurt. So that we are
creating. one after the other. the in
strumentalities of knowledge, so that
know what the field of the worlds
business Is and deal with that field
upon that knowledge
Business Founded on Truth.
Then. when the knowledge is OBJ
tanned. what are we going to do? One
of the things that interests me most
about an association of this sort is that
the intention Of it is that the members
should share a common body of infor-
nation. and that they should concert
among themselves those operations of
business which are beneficial to all of
them: that, instead Of a great body. in
stead OF large number of dealers in
grain, acting separately and each fight
ing for his own hand. you are willing
to come together and study the prob
lem as If you were partners and broth
ers and co-operators in this field of
business. That has been going on in
every occupation in the United States
that do the advertising have been get
ting together. and they have made this
startling and fundamental discovery
that the only way to advertise sue
cessfully is to tell the truth.
There are many reasons for that. One
of the chief reasons is that when you
get found out it is worse for you than
before. But the great reason, the sober
reason. Is that business must be found
ed on the truth, and you men get to-
gether in order to create a clearing
house for the truth about your busi-
ness.
Very well. that is a picture in small
OF what we must do in the large We
40 aSS So-oPCldtC III llfc WnOle QelO OF
business. the government with the mer-
chant. the merchant with his employe,
the whole body of producers with the
whole body of consumers, to see that
the right things are produced in the
right volume, and find the right pur-
chasers at the right place, and that, all
working together, We realize that
nothing can be for the common benefit
which is not for the individual benefit.
You know that there was introduced
IN the House OF Representatives recent
~ bill ommonly called the Webb bill,
fer the purpose of stating it as the
policy Of the law of the United States
that nothing in the antitrust laws now
existing should be interpreted to in
terfere with the proper sort of CO.
operation among exporters
Foreign Not Like Home Field.
The foreign field is not like the do
mesttc field. The foreign field is full
Of combinations meant to be exclu-
sive. The antitrust laws Of the United
States are intended to prevent any kind
Of combination in the United States
which shall be exclusive Of new enter
prises within the United States, any
which shall set up monop-
ply in America; but the export busi-
ness Is very big business. very COM
PAASoeSu DuoiACSop very expensive
business, and 1T ought to be possible
and 1t will be possible and legal, for
men engaged in exporting to get to-
gether and manage. 1t in groups, so
that they can manage 1t at an advan-
tage instead of at a disadvantage as
compared with foreign rivals. Not for
he purpose Of exclusive and monop-
,listic combinations. but for the pur-
bose of cooperation; and there Is a
very wide difference there. I for my
self despise monopoly, and l have an
for cooperation. BY CO.
operation mean working along with
anybody who is willing to work along
With you under definite understandings
md arrangements which will constitute
| sound business program. There can
,e no jealousy of that, and II there had
,een time, / can say with confidence
hat this bill which passed the House
II Representatives would have passed
he Senate of the United States also.
so that any obstacle that ingenious
awyers may find in the antitrust laws
will be removed. 1 was a lawyer once
myself before I reformed, and I can
livide hair twixt north and north
east side. but I do not think it is worth
while and I do not think that statutes
ire places for ingenuity. statute is
Intended to lay down a broad and COM
and national policy, and 1t
ought to be read in that light. But