Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1923-04-27

NAfC ludl lidheS IOr ltS creation.
Some discussion Of the legal limita-
lions we have placed upon economic
domination is given later on, but 1t is
desirable to mention here certain DO
tent forces in our economic life that
are themselves providing their own
correction to domination.
The domination by arbitrary indiyid-
ual ownership is disappearing because
the works Of today are steadily grow
ing more and more beyond the re-
sources Of any one individual, and
steadily taxation will reduce relatively
excessive individual accumulations.
The number Of persons in partnership
through division Of ownership among
many stockholders is steadily increas-
ing-thus 100000 to 100000 partners in
single concern are not uncommon.
The overwhelmingly largest portion Of
our mobile capital is that of our
banks, insurance companies, building
and loan associations, and the vast ma
jority Of all this Is the aggregated
small savings Of our people. Thus
large capital is steadily becoming more
and more mobilization Of the savings
Of the small holders--the actual people
themselves-and its administration be-
comes at once more sensitive to the
moral opinions Of the people In order
to attract their support. The directors
and managers Of large concerns, them
selves employees Of these great groups
Of individual stockholders, or policy
holders, reflect a spirit of community
responsibility.
Large masses Of capital can only
find their market for service or produc-
ton to great numbers of the same
kind Of people that they employ and
they must, therefore, maintain conf
dence in their public responsibilities in
order to retain their customers. In
times when the products OF manufac-
ture were mostly luxuries to the aver
age of the people, the condition of
their employees was of no such inter-
est to their customers as when they
cater to employees In general. OF
LILO AQllC1f 0O 6ACoNCl PAOOAo ANS0 -
list than the efforts Of many large con-
Germs directly dependent upon public
good will to restrain prices in scarcity
and the very general desire to yield
a measure Of service with the goods
sold. Another phase Of this same de-
velopment In administration Of capital
Is the growth of sort of institutional
sense in many large business enter
prises. The encouragement Of solidar-
Ity in all grades of their employees In
the common service and common sue
,ess, the sense Of mutually with the |
of the community are both |
vital developments in individualism.
There has been In the last thirty |
7ears an extraordinary. growth Of or
yanizations for advancement Of ideas
n the community for mutual co-opera-
ion and economic objectives-the
chambers Of commerce, trade associa-
ions, labor unions, bankers, farmers,
propaganda associations, and what not
These are indeed variable mixtures OF
Iltruism and self-interest. Neverthe-
ess in these groups the individual finds
n opportunity for self-expression and
in the molding of ideas,
eld for training and the stepping
tones for leadership.
The number of leaders In local and
ational life whose opportunity TO
ervice and leadership came through
lese associations has become now OF
lore importance than those through
he direct lines Of political and reli-
i0us organization.
AT times these groups come into
larp conflict and often enough charge
ach other ~ith crimes against public
lterest. They do contain faults; II
icy develop into warning interests, II
ley dominate legislators and intimi-
ate public officials. If they are 10 be I
aw setting Of tyranny, then they will I
sstroy the foundation OF indiYiduai- I
m. our government will then drift
no the hands Of timOr0ns medlocri-
Is dominated by groups until We c
lall become a ssndiealisr patton o1 q
eantie scale. on The other hand, !
.ch group = a realization of greater z
uiuality 0f Interest eAch eon'AlNs
me clemens of public service niiu J.
zen Is sclrgol of public responsipill.
Ia fhe main, the same f'iers '',"l
rnioaie the nation af large efeAinHNs
lmeafo those groups iN' sense " pa
nlce WHNng sense nf t..l'.',. "