Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-11

$ERobLrnisSo NG Hy OF, and II oT ldEn
ssEeorge il: Doran Co. New YORK. RAN"
IL, After tho peace. the economic prob
y I'm, What must be done to set the
: Par. Kahn makes a brilliant contribu-
lion to this battling problem. He
s; ne exposes the fallacies of an Hide
signed taxation. and he lays bare the
OF our economic struc-
M. Kahn occupies an international
s position in the world OF finance. He
speaks with an authority that Is baseu
S @1, Wiae practical t experience. lie deals
susstons the vision OF tomorrow. His
book is one that everybody Interested
\ tional problems should read
In his exposition of existing rail-
& road abuses. Sir. Kahn does not hest
! 'front.' he.shoulder fashion the s'' tusda :
Z have been factors in creating these
( railroads from the time OF the modern
h era or railroad regulation and rate
control by commissions during Presi-
s uent RooseveitS second administra-
ton. with the enactment OF the Hep
y burn biz. through the introduction
pr the Tart railroad bill on down to
3; With startling vigor Mr. Kahn ar
Iaigns the inadequacy of the law UNI
Permission works. Insisting that to
: his knowledge there is no parallel in
my other country to the enactment
: down 20 its minutest details, under
the almost absolute power of seven
:. men owing defined accountability to
: no one, selected for relatively short
: terms. and according TO no particular
standard OF training or qualifications
The Interstate Commerce commits
sion being at the same time proSecu-
tor. Judge and jury, may assuredly be
termed negation of the root principle
/. government springs"
s.. Speaking of tho relative advantages
--s lnaer dans ger OF privately owned and
Kahn says, The two things, :. e..
~Priyatc management and permanent
guarantee OF earnings are
eat their cake and have it,"
Practicaliy all railroad men recog-
s nize that thorough public regulation
and inadeqaasy Of The enc law l%uit umGsT
which the Interstate Commerce Com
mission works and the multiplicity OF
have to serve. that constitutes their
main grievances and that cries for
reform On this commission. which
uustrial life of the nation than is cX-
Srcised by probably anv other tri-
bunal anywhere in the world. there
who came TO II qualified BY tirst-ratc
experience, in railway operation. or
by broad business experience. or any
1 considerable experience in financial
- matters att rs via, o,, ILL.,,
yestors be treasured as 10 the safety
In American railroad securities. The
.-railroad should be free from conflict
ing jurisdiction by the several states
eral Tha rs qnaSr msa
ton must be taken out of politics
The system of public policy towards
. America. Gf,ar,,
! than government ownership.
The program in support OF which
ding more and more is: Let the gov
7ternment exercise strong and comprc-
s>he nsive control. but fair and construc-
~ without eliminating State COM
Z missions. let their functions be so adj
iusted as 20 avoid conflict with the
rate-makinE and security issues
Let raiiroadinG then he thrown
open to private initiative and enter
make 1t an attractive field for cap
ttai, and above all, for men of ability
'Personally," adds Mr.. Kahn. 81 am
wholly opposed to the timid oppor-
reality OF private initiative and en-
mental guarantee OF earnings.
The name Of Otto Il. Kahn carries
pest known tinanciers. being Il mem
Der of the private banking firm of
Kuhn, Loeb & Co. in New York. He
Is OF German birth and parcntaEc. but
rs one or the most ConspicuouSly
public-spirited Americans. lie made
"a notablc record in war work and
R publ y. embraced the allied cause
France made him n Chevalier of the
LeEion, of Honor for, his services 10
the allies. Italy and Belgium made
him commander OF the Order of the
of Italy and Belgium rcspec-
atiVely. Mr. Kahn is chairman of the
Metropolitan Opera, the French Thea
ter, and a leader in many institutions
of the musical and art world.
9Th. THE GREAT MODERN AMERICAN
reminiscent Introduction by vii"
liam Dean iiowels Boni & Liveright,
death recently occurred. with the per
. familiarity with the iiie-ature OF the
-Iiterature. has mere collected twenty . rt;y,.
ySfour American Short Stories that have
appeared since taIr.roaimLtely) the
which he considers worthy OF remcm.
brance and perpetuation. Unswayed
/ by opinions. aioof from. temporary
hns seen. arise and fade away. Mr.
y Howells has chosen calmly and has
set, the seal ot his wide knowledge
ahu using ulsned preference IhiS
anthology is the distilled Judgment
of life OF great writing and ex-
perience. and will undoubtediy take
Its place as one OF the standard an
57tholoGics in the English language
The selections arc from the writ
ings OF Etward Everett Hale. Harrict
T. B. Aldrich. Charles w Stoddard
Bret Harte. Frank Stockton, Faith
Wharton; Sarah orne Jcwett, Mary z.
Bierce. Hamlin Garland Henry r.
Fuller, George AIDE, Theodore Dresser
Edith Wyatt Charlotte s. Gilman