The Birmingham age-herald., 1924-07-20
HIGH STANDARD IS SOUGHT FOR
 IN ETHICS CODE
Local Chamber Of Com- merce Voices Approval
 Of Resolutions

The Birmingham Chamber of Com merce has gone on record as unanimous ly adopting the resolution on the prln- ciples of business conduct fostered by the national chamber. This resolution ! deals clearly and concisely with its subject and is considered by industrial heads an excellent foundation for busi- ness conduct
 The resolution follows: "The func- ton of business is to provide for the material needs of mankind and to in- crease the wealth of the world and the value and happiness of life. In order to perform it's function it must oIfer sufficient opportunity for gain 70 com pensate individuals who assume it's risks, but the motives which lead indi. viduals to engage in busine are not to be confused with the function of busi. ness itself. When business enterprise Is successfully carried on with constant and efficient endeavor to reduce the cost prove the quality of it's products, and to of production and distribution, to im- give fair treatment to customers, capi- tai, management and labor, it renders public service of the highest value.
 We believe the expression of prin- ciples drawn from these fundamentals will furnish practical guides for the conduct of business as a whole and for each individual enterprise
 Code In Detail
 I. The foundation of business Is confidence, which springs from integrity, fair dealing, efficient service and mutual benefit.
 70. The reward of business for service rendered is a fair profit plus a safe re- serve, commensurate with risks involved and foresight exercised.
 B. Equitable consideration is due in business alike to capital, m .nagement, employees and the public.
 A. -Knowledge-Th and spe- cific-and unceasing study of the facts and forces affecting a business enter prise are essential to lasting individual success and to efficient service to the public.
 ''5. Permanecy and continuity of service are basic aims of business. that knowledge gained may be fully utilized. confidence established and efficiency in- creased
 '6. Obligations to itself and society prompt busineess unceasingly to strive toward continuity of operation, better ing conditions of employment and in- creasing the efficiency and opportunities. of individual employees.
 v. Contracts and undertakings, written or oral, are to be performed in letter and in spirit. Changed co. ditions do not justify their cancellation with out mutual consent.
 ''S. Representa- tiOn of goods and serv- ices should be truthfully made and scrupulously fulfilled.
 9. Waste in any form-of capital, labor services, materials or natural re- sources-is intolerable and constant ef- fort will be made toward it's elimination.
 TO. Excesses of every nature-infla- tion of credit, over-expansion, over-buy- ing, ver-stimulatiOn of sales-which create artificial conditions and produce crises and depressions are condemned.
 I'll. Unfair competition, embracing all acts characterized by bad faith, decep- tiOn, fraud or oppression, including com mercial bribery, is wastetul, despicable and public wrong. Business will rely for its success on the excellence of its own service.
 ''12. Controversies will, where DOS. sibl,e, be 'djusted by voluntary agree ment or impartial arbitration.
 "13. Corporate forms do not absolve form or alter the moral obligations of individuals. Responsibilities will be as and conscientiously dis 1 charged by those acting in representa- tive capacities as when acting for them- selves.
 "A. Lawful cooperation among busi- ness men and in useful business organi- cations in support of these principles of business condcut is commended.
 '15. Business should render restric- tive legislation unnecessary through so itself as to deserve and in- pire public confidence"