New Britain herald., 1923-10-13
BY CALVIN COOLIDGE
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During the rast few years we hay
 questioned the soundnsss of man
 principles that had for a long tim
 been taken for granted, We have eh
 amined the foundations of our inst
 tutions of government We have de
 tated again the theories of the me
 who wrote the Declaration of fnde
 pendenee, the Constitution of the ma
 ton, and laid down the fundaments
 law of>our own commonwealth. AienI
 with this examination of our form o
 government has gone an examination
 of our social. industrial. and eeenomi
 system. What is to come out Of II aii
 In the last 50 years we have had
 material prosperity in this eountr'
 the like of which was never hehei'
 before. A prosperity which not onl'
 built up great industries. great trans
 portation systems. great banks and |
 great commerce. but a prosperity un
 der whose influence arts and sciences
 education and charity fiourishes mos
 abuhdantly. It was little wonder tha
 men came 10 think that prosperft,
 was the chief end of man and grew
 arrogant in the use of Its power. Il
 was little wonder that such misun'
 derstanding arose that one part Of the
 community thought the owners and
 managers of our great industries wert
 robbers. or that they thought some of lhe people meant to confiscate all property It has been a costly inves-
 tigation. but If we can arrive at a better understa nding of our economic and social laws it will be worth all it cost.
 As a part of this discussion we have had many attempts at regulation of industrial activity by law. Some of 1t has proceeded on the theory that # those who enjoyed material prosperity used it for wrong purposes. such pros- perity should be limited or abolished. That Is as sound as 1t would be to abolish writing to prevent forgery. We need to keep forever in mind that guilt Is personal; if there is to be pun ishmont let it fall on the evil-doer, let us not condemn the instrument We need power. Is the steam engine too strong? Is electricity too swift? Can any prosperity be too great? Can any instrument of commerce or indus try ever be too powerful to serve the public needs? What then of the anti trust laws? They are sound in theory. Their 'asscmblances of wealth are broken up because they were assem- bled for an unlawful purpose. It is the purpose that is condemned. You men who represent our industries can see that there is the same right to disperse unlawful assembling of wealth or power that there is to dis rerse mob that has met to lynch or riot But that principle does not de- nounce town meetings or prayer meet ings.
 We have established here a de- mocracy on the principle that all men are created equal. It Is our endeavor to extend equal blessings to all. It can be done approximately if we es- tablish the correct standards. We are coming to see that we are de- pendent upon commercial and indus trial prosperity, not only for the ere ation of wealth, but for the solving of the great problem of the distribu- ton of wealth. There is just one con- dition on which men can secure em- ployment and a living, nourishing, profitable wage, for whatever they contribut to the enterprise, be it la- bor or capital, and that condition is that some one make 8 profit by it. That Is the sound basis for the dis tribution of wealth and the only one. It cannot be done by law, it cannot be done by public ownership, it cannot be done by socialism. When you deny the right to profit you deny the right of a reward to thrift and indus try.
 The scientists tell us that the same | force that rounds the teardrop moulds the earth. Physical laws have their analogy in social and industrial life. The law that builds up the people is the law that builds up industry. What price could the millions, who have found the inestimable blessings of American citizenship around our great industrial centers, after coming here from lands of oppression, afford to pay to those who organized those industries? Shall we not recognize the great service they have done the cause of humanity? Have we not seen what happens to industry, to transportation, to all commercial &C., tivity which we call business when profit falls? Have we not seen the suffering and misery which it entails upon the people?
 Let us recognize the source of these fundamental principles and not hesitate to assert them. Let us frown upon greed and selfishness but let us also condemn envy and un- Let us have done with misunderstanding, let us strive 70 realize the dream of democracy by | prosperity of industry that shall mean the prosperity of the people, y strengthening of our material re- Iources that shall mean a strengthen ng of our character, by a merchan- Using that has for its end manhood md womanhood, the ideal of Ameri- an Citizenship.
 We have known that political pow r was with the people, because they lave the votes. We have generally upposed that economic power was lot with the people, because they did ct own the property. This suppo- ition probably never true, is growing nore> and more to be contrary to the acts. The great outstanding fact in he economic life of America Is that he wealth of the Nation is owned by he people of the Nation. The stock olders of the great corporations run ito the hundreds of thousands, the mall tradesmen, the thrifty house.