South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-09-23
j. s. GOES OVER
TOP" IN BUSINESS
FinanCier Says War is Prov
ING Value of National
Cooperation.

The United States has come out
Of the trenches Of neutrality and
gone over the top in business and
finance. as well as In active war"
declared Francis H. Sisson. vice
president OF the Guaranty Trust Co
of New York. in an address entitled
over the Top in Finance and
Business" delivered at the eth an
nual convention Of the Illinois Bank
crs' association. held in Quincy,
ILL.,. last week.
National cooperation. on "A scale
such as we have never before known,
was the keynote of Mr.. Sisson's
speech He sounded the call 10
move on as one people, in unity of
feeling and community of interest.
TO our great common task" He
pointed 20 the ideal Of national unity
exemplihed by the closer relation
existing today between the govern
ment and business. and their great
interdependence as the most pro
gressive step i'm "OUr excursion over
the top"
AS we march across the no
mans land Of preparation, before
we plunge into the enemy's trenches.
we may possibly be better guided if
We pause a moment 10 view our
position and get our bearings for the
next charge" Mr.. Sisson suggested.
Authorities Seek Cooperation.
I'm many instances the war has
shown us how far afeld from sound
economies some OF our government
al policies have led us" he contin-
ued For years we have energeti-
cally tried by legislation 10 prevent
cooperation in business. Restrictive
state and federal laws in bewiIder-
ing variety have sought TO compel
an uneconomic condition which the
necessities Of war reveal in its true
light. and every effort Of our author
tiles is now being made to establish.
with law or without il, sound.
economic state of cooperation for
which the leaders in business and IL
nance have for years pleaded in
vain.
only yesterday the word pool
ing was anathema. today we are
pooling food and fuel and ore and
oil and transportation. and glorying
ia the efficienCies and economies eff
fected thereby Restrictive laws and
regulations are ignored. and under
the sanction OF government. private
business is not only permitted but
urged 10 lend its efforts toward ef-
1ective combinations in the public
interest.
Railroad Efficiency.
"Our railroads. under the pater-
nal aegis Of the government. are
demonstrating i'm marked degree the
efficiency of combination i'm trans
pOrtatiOn. With only a three per
cent increase i'm equipment, they
have shown a 26 percent increase in
transportation service simply
through being permitted. ny agree
ing among themselves. 90 operate
their properties on national instead
Of On a sectional or local basis. Here
IA a vision Of what we may hope for
when the railroads may be perman-
emily freed from the thousands of
petty cords of local interest which
have bound this modern CULVER
and the Instruments of interstate
commerce be permitted to serve the
needs OF interstate commerce under
the direction OF the federal body
which represents us all
For years our business men Of
vision have insisted upon the neces-
sity OF developing our merchant ma
rine through ship subsidies and fair
regulation. In order that the indus
trial and commercial interests Of this
country should find their proper
mace in the markets of the world
only the eXigencies of war could
open the eyes of our governing au-
thorities to the wisdom of this posi-
tiOn, but now we find ship subsidies
freely granted and every effort he
ing made 10 give the American flag
its place upon the high seas and to
open the ocean highways 10 our
great foreign trade.
The United States Corporation"
For the successful prosecution Of