Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-11-20
COOLIDGE ADDRESSES NY.
CHAMBER OF COMMERCE
CONTINUED from Page One)

reliance truth and faith and justice.
In it's larger sense 1t is one of the
greatest contributing forces to the
moral and spiritual advancement OF
the race.
Government ana monopoly
It is the important and righteous
position that business holds in rela-
ton to life which gives warrant to the
great interest which the National Gov
eminent constantly exercises for the
promotion Of it's success"
"It is only in exceptional instances
that this means change on the part
of the national administration so much
as it means a change on the part OF
trade. Except for the requirements of
safety, health and taxation, the law
enters very little into the work or pro-
duction. 1t is mostly when we come
to the problems of distribution that
we meet the more rigid exactfons OF
legislation. The main reason why
certain practices in this direction have
been denounced is because they are
species Of unfair competition on the
ore hand or tend to monopoly and re-
straint of trade on the other. The
whole policy of the Government in its
system of opposition to monopoly, and
its public regulation of transporta-
ton and trade, has been animated by
a desire to have business remain bus1-
ness. We are politically free people
and must be an economically free peo-
pie.
1t Is nv belief that the whole ma
terial development of our country has
been enormously stimulated by reason
of the general insistence on the part
of the public authorities that economic
effort ought not to partake of privf-
lege, and that business should be I'M
hampered and free. This could never
have been done under a system OF
freight-rate determinations or monop-
olistic trade associations. These might
have enriched a few for limited pc
Rod, but they never would have en-
riched the country, while on the firmer
foundation of justice we have achieved
even more ample individual fortunes
and a perfectly unprecedented era OF
general prosperity. This has resulted
in no small part from the general ac-
ceptance on the part of those who own
and control the wealth of the Nation,
that II is to be used not to op-
press but to serve. 1t is that policy.
sometimes perhaps imperfectly ex-
pressed and clumsily administered.
that has animated the National Gov
eminent. In it's observance there Is
unlimited opportunity for progress and
prosperity.
It would be difficult, If not impos-
sible, to estimate the contribution
which government makes to business.
It is notorious that where the gov
eminent is bad, business is bad. The
mere fundamental precepts of the adj
ministration of justice, the providing
of order and security, are priceless.
The prime element in the value Of all
property Is the knowledge that its
peaceful enjoyment will be publicly
defended. If disorder should break
out in your city, II there should be a
conviction extending over any length
Of time that the rights of persons
and property could no longer be pro-
tected by law, the value of your tall
buildings would shrink to about the
price of what are now water fronts
of old Carthage or what are now
corner lots in ancient Babylon. 1t is
really the extension of these funda-
mental rights that the government is
constantly attempting to apply to
modern business. 1t wants its right
full possessors to rest in security, 1t
wants any wrongs that they may suf-
fer to have a legal remedy, and 1t Is
GIL eiO tAiiiO OIL ifliS thlOdSl
istrative machinery to prevent in adj
vance the infliction of injustice.
Trying to Avoid
These undoubtedly represent poll
cies which are wise and sound and
necessary. That they have often been
misapplied and many times run into
excuses, nobody can deny. Regula-
ton has often become restriction, and
inspection has too frequently been
little less than obstruction. This
was the natural result of those times
in the past when there were prac-
tees in business which warranted Sc
we're disapprobation. 1t was only
natural that when these abuses were
reformed by an aroused public opin-
ion a great deal of prejudice which
ought to have been discriminating
and directed only at certain evil
practices came to include almost the
whole domain Of business, especially
where 1t had been gathered into large
units. After the abuses had been
discontinued the prejudice remained
to produce a large amount of legis-
lation, which, however well meant in
it's application to trade, undoubtedly
hampered but did not Improve. 1t Is
this misconception and misapplica-
ton, disturbing and wasteful in their
results, which the National Govern
ment Is attempting to avoid. Proper
regulation and control are disagree