The Holly chieftain., 1923-04-19


Some discussion of the legal limita-
tions we have placed upon economic
domination Is given later on, but 1t is
desirable to mention here certain po-
tent forces In our economic life that
are themselves providing their own
correction to domination.
The domination by arbitrary individ-
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 spirit Of community
responsibility.
Large masses Of capital can only
find their market for service or produc-
tion 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
this latter. no greater proofs need ex-
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 a 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
cess, the sense Of mutually with the
prosperity of the community are both
vital developments in individualism.
There has been in the last thirty
years an extraordinary growth of or
ganiZations for advancement of ideas
In the community for mutual co-opera-
tion and economic objectives-the
chambers Of commerce, trade associa-
tions, labor unions, bankers, farmers,
propaganda associations, and what not.
These are indeed variable mixtures Of
altruism and self-interest. Neverthe-
less in these groups the individual finds
an opportunity for self-expression and
participation in the moldlng Of ideas, a
field for training and the stepping
stones for leadership.
The number of leaders in local and
national life whose opportunity to
service and leadership came through
these associations has become now Of
more Importance than those through
the direct lines Of political and reli-
gious organization.
At times these groups come into
sharp conflict and often enough charge
each other with crimes against public
interest. They do contain faults; II
they develop into warning interests, II
they dominate legislators and intimi-
date public officials, If they are to be a
new setting of tyranny, then they will
destroy the foundation Of Individual
ism. Our government will then drift
into the hands of timorous mediocre
ties dominated by groups until We
shall become syndicallst nation on
gigantic scale. On the other hand,
each group Is a realization Of greater
mutually Of interest, each contains
some element Of public service and
each is Il school Of public responsible
ty. In the main, the same forces that
permeate the nation at large eventually
permeate these groups. The sense Of
SERVICE growing sense of responsi-
billty, and the sense Of constructive
opposition to domination, constantly
recall In them their responsibilities as
well us their privileges. In the end, no
group can dominate the nation and
few successes in imposing the Will of
any group is It's sure death warrant.
Today business organization is NOV
ing strongly toward cooperation. There
are In the cooperative great hopes that
we can even gain in Individuality,
equality of opportunity, and an en-