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

publication Commerce Monthly for october under I'M
heading rs Private Property secure?" Social expedienc
ana social welfare, it says are the tests demanded
present conditions Of living and the logical solution OF
the problems presented by the growing assaults on nri
Nate properly, free enterprise and competition which
The bank declares, are the three great fundamentals on
which the present order OF society rests The article
says:
We can no longer expect 10 defend The fundamentals
OF our present social order by obsinately standing pa
on constitutional law II Is satisfactory answer to the
social radical to that our institutions are grounded in
court decisions Men longer willing to settle social
ana 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
erty free enterprise and competition by the various cults
OF social radicals the article says wise social policy in
he future aimed at the abolition OF poverty viii seek
poth TO restrict the numbers of the population and TO
prevent the further breeding Of those elements Of the
population which by birth condemned TO inferorltv
IL VIII also lay heavy emphasis efficiency in production
The Commerce Monthly adds
What shall we say for private property free enter
PRISE and competition, against or all OF which the
shaits OF the social radicals aimed? We must hold
that hese fundamentals Of the present social order are
Nitally important and thoroughly defensibe NIodi0ca-
IONS In them we must make but in the interests OF social
welfare we must defend them
ut is no valid defense of them however TO saw That
law that they are established in court decisions that
ihey are established by long custom. The time is past
Wnen men are willing TO draw their conceptions OF Justice
from lawyers or from ancient custom Institutions must
stand on their own merits and they must be tested by
he fundamental test of social welfare DO they or do
ihey not promote the well being Of society?
They do Private property for example corresponds
s' 70 fundamental human instinct the instinct Of ac-
quislon the instinct Of possession As man is consli-
iuted he desires"o own and TO hold things II is NV
appeal TO these elementary things in human nature that
we draW out mems energies. The desire for private |
property IS one OF the most powerful agencies in spurrng
men TO effort That be found Men will work harder
or her personal ends than they will for general public
nds Men will take better care Of their own properiv
nan ihey VIII OF what belongs to the group as a whole
system IN which each man is made responsible for his
Wn welfare and the welfare Of his family leads o far
reaer effort on the part Of than any other system
nown Industries by governments are in general far
lore wastefully conducted than are industries run bv
rVale individuals whose profits depend The outcome
ne operations Exceptions can be found among some
uncpal enterprises in which the activity under obser-
alton is relatively simple and comprehensive but few
Neepons can be found among the enterprises conducted
great governments. Whatever else we may seek 10 do
Improving the social order, we must not do ANYTHING
hch Will lessen the efficiency Of production The funda
rental act IN the whole social problem is the fact that
'e do not now produce enough"
commerce Monthly
hat this does not that all phases OF private
roperty and all the rights connected with nrivate
roperty should be regarded sacred and not subject
criticism Private property should be subject always
pubIc regulation and subordinated 10 the public in
rest In great city, man should not be allowed ,
put up high building in such manner as to cut Off
t and air from his neghbors We do not allow men
maintain public nusances upon their private properlv
arid and semi-arid regions, the rights to streams now-
through piece of land subject to the larger com
lh need II private property is needed for public use
may be taken either by taxation under the rules Of
lnent domain Again how far is the unlimited right Of
quest or inheritance essential part of private prop
" rghtY And again, is It necessary In order for US TO
The best out Of private property social purposes
at fortunes should be allowed grow to unlimited size
ese are questions about which may well ponder
With reference to competition the case is equally clear
is asserted The instinct Of rivalry fundamental in
man nature and the spur Of competition is needed to
Ike men do their best Competition the protection
the consumer against high prices which accompany l
brilliant profits. 1t is the automatic force which re- -
'es the gains Of tie inefficient and makes profits depepd d
on low rather than high prices It evokes in in b.
duals the fundamental characteristics OF energy thrift m
power It harmonizes the interests Of the individual y
Of society ~
Whether competition is wholesome or not depends
On the level Of competition When unfair and unwhole- u
ne methods Of competition are introduced the adultera II
ierselng for the purpose Of running local competitor
hose and other unfair methods can and should be pre-
ted Trade practices and public sentiment go far in III mI
matter Where necessary. the law should slep in IN
game OF business competition must be played fairly wi
re must be no hitting below the belt If
free enterprise again. together with competition and su
ate property vital to economic progress The man inf
ideas and initiative must be given free scope TO carry Tao
his plans BY the large free private enterprise is so str
mousy superior 70 government ownership OF indus oil
under government regulations that the man who has 90
both systems in operation intimately can have little =
1t about the matter
rec enterprise and competition are highly undesirable
'r some conditions There general agreement that
suated competition between two parallel lines OF rail-
may bankrupt one or both. Competing telephone y
ms in given city pernicous There is no room ea
competing street railways systems upon the city so'
U.s. In cases Of this sort we reluctantly surrender ~ ~
petition and we Introduce government regulation a O.
IlAr an.Ln ...L.