New-York tribune., 1919-12-10
Perkins Advocates
Applying U. S. Bank
System to. Roads
Private Ownership Under
Federal Regulation Will
Eliminate Many Present
Industrial Evils, He SAYS

Government regulation and super
vision of industries and railroads is
the only remedy for the present eco
nomlc situation, George w. Perkins
told large audience last night in the
Columbia Institute of Arts and
Sciences. His subject was Some
Aspects of the Present Industrial
Situation"
Mr.. Perkins, in urging Federal reeu-
latlon of industries, referred to the
banking system as the model for such
regulation. VI
Our national banks are privately
owned and privately managed" he
sald, thus preserving the essential
factor of individual initiative. They
do business in various states and vet
they are not chartered by the states
nor under any state rules or regula-
tons. They are Federal institutions
doing business under Federal laws and
closely supervised and regulated by
Federal authority. These banks have
grown in size until to-day one of them
has deposits in excess if a billion
dollars.
System Declared Satisfactory
"The system under which they are
created and managed seems to be
satisfactory to the public, to the de-
posltors, to the stockholders, to the
managers and to the government
Why, therefore, cannot we take this
method as the one to be followed in
the establishment and management Of
our industrial and railroad activities :?
IF properly carried out, this very
principle of cooperation develops large
units of activity, which place large
powers in the hands of individual
leaders. Therefore, this power should
be regulated and controlled by a large
authority, which means the Federal
government. When this is done we
can eliminate, at least to very large
industrial and railroad affairs and
preserve the good that comes from CO.
operative effort, which is precisely
what We have done in our banking
affairs.
Il believe one Of the greatest obsta-
cies to arriving at the workers. fair
share has been and is ruthless COM
petitlve methods in business. l believe
that only through cooperative methods
in business can the workers fair share
be determined and preserved.
Competition Called Pernicious
"Compettion at one time may have
been the life Of trade but it certainly
was the death of manhood, the curse
Oh WOWannOOd, the Wrecker of child
hood. Competition has always en-
riched the strong and impoverished
the weak. 1t has always fostered and
stimulated lying, deceit and adultera-
tion, and its ultimate goal has always
been private monopoly of the most
pernlclous sort.
1--WE must move on from competi
ton to emulation; from destructive,
inhuman and wasteful methods to con-
structive, humane and cooperative
methods. Unless we do this, our much
vaunted civilization and progress and
all our new labor-saving. time-saving
machinery are of no practical avail,
and We had better consign them to the
scrap heap and begin all over again.
We must learn to get on together or
we will go down together"
Mr.: Perkins said no one should be
permitted to stay in this country who
is unwilling to learn to read and
write English within a certain length
of time. and who cannot pass an
examination to show that he has q
proper understanding Of our form of
government and Loyalty supports it.