Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-10

mKk G What h@D Private Enterprise

/ At lunch in a downtown club a
banker, a lawyer and the chairman of
the board of corporation favorably
known almost all over the world ex-
pressed characteristic and intimate
views after the writer had remarked
that, in lieu of a national referendum
to decide the question, Vermont folk
we're debating the future of the Presi-
dent. Up there. these men were told,
it seemed agreed that Citizen Coolidge
| would not retire to the serenity of coun-
try life, that he would not seek refuge
In travel, as did Col. Roosevelt, that
he would not devote himself exclusively
to writing the Coolidge memoirs: that
he would not choose, even II urged, to
go on the Supreme Court bench, and
that-so many Vermonters argued in
all manner of general store and other
informal caucuses--the President prob
ably would not return to the practice
of law and might not return to pub
lic-that is, political-life.
Then our host, the banker, said out
Of a clear sky, Il want to see Mr..
Coolidge in business life"
In banking, you mean?' asked the
lawyer
NO" replied this banker. rather as
the head of a great industrial corpora
ton
which,"
well, any big-any bnlion-dol
corporation might do
But his training has been in poll
tics" the lawyer said.
"A little knowledge OF politics never
does any one any harm" the banker
laughed. Politics is mainly the study
of human nature and you can't get
around the fact, Henry, that Mr.. Cool
idge has one essential gift OF a great
executive. in that he knows how to PICK
good men to help him. How about it?"
The banker turned to the manufac-
turer.
This chief executive answered: you're
right! But that isn't the whole OF IL.
The fact is, about the most important
problem of any big business Is what you
call its public relations problem. Ihats
vital. There was time when businesses
were more or less family affairs. The
public be durned,' big boss could say
and get away with it. Not any more. A
big business Is an institution nowadays.
It's a kind of empire within an empire:
For instance, the United States Steel
Corporation has 100000 employees, and
$4,000 of them own stock, not to men
ton the other 100000 stockholders.
American Telephone & Telegraph has
a lot more. Probably the total number
of stock owners in the United States
has multiplied 10 times in decade or
two. It's increasing all the time. The
number of customers also. Public intel
ligence Is q lot keener than ever. And
there are lot of other reasons, such as
legislation, which, as you fellows know,
make it vital for the head Of any big
business to have a sound knowledge of
public psychology. And in that respect
Mr. Coolidge, in my judgment. excels
all other Presidents of our time"
X n
THE banker nodded approval; but the
l. lawyer held of. The banker turned
to him. Henry" he said, you'd like
to see the President return to law. OF
course you would The fact is, though,
that this is the day Of the lawyer in
business. There are almost as many
lawyers in executive jobs in eur cor
porations as there are bankers. And
Calvin Coolidge'S greatest abilities lie
in administration, at time when great
administrators are needed. He has been
chief executive officer of the biggest and
most complex business in the world.
And he has scored 100 per cent as ad-
ministrator."
Granting that" the lawyer count
cred, "but a business is run to make
money, and its balance sheets tell the
tale. A government, though, is run to