Evening journal., 1919-10-02
is PRIVATE PROPERTY sEcuREq

I ~
heading II" Private Property Social expcdency
and social welfare it the tests demanded for
present conditions OF living and the logical solution Of
the problems presented by the growing assaults on pri-
yate property free enterprise and competition which,
the bank declares the three great fundamentals on
which the present order Of society rests The article
says.
we can no longer expect to defend the fundamentals
OF our present social order by obsnaey standing pat
on constitutional law IT is satisfactory answer to the
social radical to that institutions are grounded in
court decisions. Men are longer willing to settle social
and economic issues such grounds The test now be-
ing urged that Of social expedency and social welfare"
After reviewing the assaults made upon private prop
ery free enterprise competition by the various cults
Of social radicals the article says wise social policy in
the future aimed at the abolition Of poverty will seek
both to restrict the numbers OF the population and TO
prevent the further breeding OF those the
population which by birth condemned TO ineriority
Il will also lay heavy emphasis efficiency in production
The Commerce Monthly adds
What shall we for private property. free enter
prise and competition against one or all Of which the
shafts of the social radicals aimed? We hold
that these fundamentals Of the present order are
vitality important and thoroughly defensibe NIodlnca-
tions In them we must make but in the interests
welfare we must defend them.
1T is no valid defense Of them however 10 say that
they are lawful that they established in constitutional
law, that they established in decisions that
they established by long custom The time is past
when men arewilng to draw their conceptions of Justice
from lawyers from ancient custom Institutions must
stand on their own merits and they must be tested by
the fundamental test of social welfare DO they or do
they not promote the well being Of socetyg
They do. Private property, for example corresponds
first to a fundamental human instinct the instinct Of ac-
quisition the instinct Of possession As man is cons
tued he desires9to own and TO hold things II is by
ia
we draw out mems energies The desire for private
property sone OF the most powerful agencies spurrng
men TO effort that be found Men win work harder
for their personal ends than they viii for general public
ends Men will take better Of their own property
Than they will OF what belongs to the group as whole
system in which each Is made responsible for his
own welfare and the welfare Of his family leads to far
greater effort the part Of than any other system
known Industries run by governments general far
more wasefuly condu 'ted than industries run by
private individuals whose profits depend on the outcome
OF the operations Exceptions be found among some
municipal enterprises in which the activity under obser
Walton is relatively simple and comprehensive but few
exceptions be found among the enterprises conducted
by great governments Whatever we may seek TO do
In Improving the social order must not do anything
which will lessen the efficiency production The funda
mental fact in the whole social problem is the fact that
we do not now produce enough"
1t is asserted by the Commerce Monthly, however
pdt uls uOes not mean mat all phases OF private
property aud all Of the rights connected with private
property should be regarded sacred and not subject
10 criticism Private property should be subject always
10 public regulation and subordlnaled to the public in
crest In great city, should not be allowed
put up nigh building in such manner as to cut Off
ght and air from his neighb0rs We do not allow men
maintain public nuisances upon their private property
arid and sem-arid regions the rights streams flow
lg through piece Of land subject the larger com
ION need II private property is needed for public use
may be taken either by taxation under the rules OF
nlnent domain, Again how far is the unlimited right of
equest or inheritance essential part Of private prop
'ty right? And again. it necessary order for us 10
et the best out OF private property social purposes
rat fortunes should be allowed to grow unlimited size?
hese are questions about which may well ponder
With reference to competition the case equally clear
is asserted The instinct OF rivalry fundamental in
lman nature and the spur OF competition needed to
axe men do their best Competition is the protection
the consumer against high prices which accompany
'orbitant profits. II is the automatic force which
the gains Of the inefficient and makes profits depend
pom low rather than high prices It evokes in in
yduals tie fundamental characteristics Of energy thrift
I'd power II harmonizes the interests of the individual
I'd Of society. s
Whether competition is wholesome not depends r
lon the level OF competition When unfair and unhole-
me methods Of competition introduced the adultera-
on Of goods The making of false representation local
lderscing for the purpose Of running local competitor
these and other unfair methods and should be pre-
nted Trade practices and public sentiment go far in >
is matter Where necessary the law should step in
le Of business competition must be played fairly
lerc must be no hitting below the belt.
Free enterprise, again, together with competition and
iyate property is vital to economic progress The
h ideas and initiative must be given scope carry
his plans BY the large free private enterprise is 50
ormousy superior to government ownership OF indus
under government regulations, that the vhe has
en- both systems in operation intimately have little
ubt about the matter.
Free enterprise and competition highly undesirable
der conditions. There is general agreement that
competition between two parallel lines OF rail
ads may bankrupt both. Competing telephone
stems in given city perncious. There no room
competing street railways systems upon the city ~
eets In Of this sort reluctantly surrender
mpetition and we introduce government regulation G,
monopoly, virtually all agree lnolerabe .,