The Columbia evening Missourian. [volume] (Columbia, Mo.) 1920-1923, 1922-05-04
GOOD WILL. IS
BUSINESS NEED
Continued from page one)

large volume of business, special buy
ing facilities, great capital.
coon WILL Is ESSENTIAL
"Bui,, with all Of the advantages thai
may belong TO the multiplied industry, ii
cannot attain a large success unless j,
has in lis list Of assets that intangible
item of good will. And however the
individual merchant may be handicap.
ped by reason of limited capital and
small buying power. his business may
grow amazingly when the patrons to
whom he caters have confidence in his
wares and believe in his integrity.
''All this points to the value OF The
human equation in business. Folks are
peculiar They are as full of notions
as a berry is of seeds. Few Of them
are scientific, many of them are un-
reasonable, and yet practically all ot
them are disposed 10 be fair. Even
when they are the most unreasonable,
they are actuated only by what seems
TO them TO be perfectly honest and
proper motives. Given the facts as they
actually exist, explained in candor by
those whose past performance justifies
their confidence and they are glad to
recedc from false position and will 90
beyond the demands of Justice to make
amends for any wrongs they may have
committed.
I've are in the midst of big develop
mcnts in all the departments OF lie.
We are emerging from an era OF indI-
yidualism and are attempting TO adjust
ourselves to the new situation of mass
formation. Captains of industry view
the great industrial organizations that
they have evolved from small begin
nings and persuade themselves that they
are the great primary source OF created
wealth, the guardians of the country
prosperity-and that because OF their
tremendous importance in the world
there can be no limit to the toll they
NAV take, the splendors they may
spread.
Wage earners-in the shops and
mills and factories of these captains OF
industry. arrive at their notions OF the
industrial life by what they see at the
other end of the business. They lind
that the wage that comes to them at
each pay day must be distributed with
the greatest care lest the total may not
reach far enough TO cover the neces-
sary expenses and leave mite tor the
savings against the inevitable rainy day.
And out of this apparent inequality
of reward there has grown wide gull
separating capital and labor which must
some day be bridged if this free govern
ment is to endure. Any misunderstood
in between any of the parties to the
compact-capiial, labor. and the public
must be adjusted before the great desid-
eratum of industrial life may be
achieved.
What has been said concerning the
quality OF the cornerstone OF business
applies to public utilities in particu- !
lar way, because the public utility is, OF
necessity, a monopoly, not subject to
the competitive hazards of private bus
mess owned by an individual or a cor
poration. Because the public utility Is
essentially a monopoly, there is ten
dency on the part of the public TO sus-
meet its management of enforcing un-
reasonable rates, and there is an unde- !
niabIe disposition on the part OF the
employees of the utility TO fall to OBJ
serve that carefulness of explanation OF
a misunderstanding and that consider
alton of the good will of peevcd Gus
TONER that would obtain if that employe
were the owner of the business and felt
that danger of competition which be-
longs to every private commercial en-
tcrprise.
Good will is absolutely essential IN
the successful conduct OF privately
owned public utilities. Without 1t, the
utility either suffers such loss OF pa
tronagc as to make the venture unprof-
liable or an indignant public votes to
establish municipality owned utility
TO displacc the offending corporation.
Public ownership of public utilities is
the one weapon the people have against
privately owned utility that is in the
bad craces Of its clientele.
FAyORs PRIVATE OWNERSHIP
.sThere are many in this country
I believe a very great majority-who
do not favor public ownership OF pub
lie utilities. They believe that the per-
petui,y of this civilization is best as
sured through the development OF the
personal initiative OF an enlightened
ci,izcnship-and public ownership dis
courares individual initiative-sub-
merees the individual and sets up mass
ruIe in his stead. Public ownership OF
pubIic utilities is the thin wedge with
which the Socialis, hopes TO separate
the forces of representative govern
men, and make room for the communis-
tic state.
..If there be truth in what l have
said. then the tremendous importance
of public confidence and good will in
the assets of public utilities may be
recognized. and any policy OF public
relations that will maintain good will
where i, already exists and develop 1t
where il now is lacking, deserves the
most serious consideration not only OF
those of YOU who have your capital IN