The Washington times., 1922-06-17
BUSINESS ON =
HIGHER PLANE,
ASSERTS GARY.
Steel Magnate Tells Graduates
That Better Standards
Are Prevailing.
international Nsws Service.

CHICAGO. June 17.-Business
throughout the United States is
today conducted on a higher ethical
plane than ever before. Judge Ell.
bert H. Gary, chairman Of the
board OF directors OF the United
States Steel Corporation. declared
in an alumni day address at North
western University thia afternoon.
Judge Gary. an alumnus OF the
Northwestern Law School, was one
Of the hundreds of the "old grads
who returned to alma mater and
participated In the parade which
preceded a luncheon at which he
was the speaker.
The large majority of business
men now conduct their affairs in
accordance with the ayowed belief
that right is superior to might,
asserted Judge Gary. They believe
that morality L. on a par with le-
gality and that the Observance OF
both Is essential to worthy achieve
ment; that the rights Of customers
must always be respected; that en-
ployes are associates rather than
servants and should be treated ac-
cording1y; that stockholders OF cor
porations. a. well as all partners,
are entitled to any information i'm
mediately upon the receipt Of the
same by any official or partner,
30 that under no circumstances can
there be preferential rights or op-
portunities, that destructive compe-
tition must give way to humane
competition. and to foil and prompt
publicity of all facts involving the
public wealth"
Notes Many ChaDges-
The. speaker defined "ethics" as
the science of moral duty. moral
principles and quality in practice.
Not many years ago, he said. the
managers Of some of the largest
private business corporations ap-
parently believed that II their con.
duct was within the strict and
technical rules Of law 1t was immune
from private Of public attack: that
IL no public law was violated, the
corporation should be permitted to
secure unlimited profit and might
treat indifferently its customers,
employees. its competitors and even
the general public.
"Combetition was tyrannical and
destructive" asserted Judge Gary.
The golden rule was given no
thought.
Instead of competition being the
life OF trade, 1t was the death Of
trade. Weaker competitors were
forced out of business often by
means not only unethical; but Sc
we're and brutal. The graves OF
insolvents were strewn along the
paths of Industrial development and
operation.
"Employes werc not given just
consideration. The wage rates
were adjusted strictly in accor,l-
ence with the laws Of supply and
demand. The welfare Of the work.
men was decided almost entirely
from the standpoint Of utility and
profit.
But" Judge Gary declared. ait
may be asserted with absolute con.
fidence that with the last 30 years
or more there has been a decided
change In the standards and con
duct of business. Public opinion
has aroused apd always viii arousc
the conscience Of men and women.
We cannot sleep and eat well. and
we cannot for long enjoy life in
the face Of opposing the will Of the
majority, and this 10 true OF most
pShSoio' hhSAtehae shO NsSaSec oHe
depraved."
Business Ethics Pay.
Another reason for the change
in busincsn ethics. he pointed out,
is the fact that ethical management
brings additional profits to busi-
ness.
Sooner or later It pays in dol
lars and cents" he explained.
In every particular q contsnted
workman, he asserted, 10 far su-
pcrior to one who is dissatisfied
and disgruntled. 80
A world renowned example Of
ethics in business. Of Its desira-
bility and Of It's value, was Wit.
messed, he said. at the late inter
national conference In Washington.
This great conference was con.
Quoted strictly on the basis Of bust
ness ethics" he added. And for
this reason only II was successful.
"It may be observed in passing
the Judge concluded, that hence
forth the political party which pays
the most attention to ethics 10 lfke-
ly TO secure Endorsement by the
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