The evening world. Newspaper, August 7, 1912, Page 16

} { WILSON IN RINGING SPEECH THE EVENING WORLD, WEDNESDA VILSON DECLARES E’S FREE ¥, AvGUS T 7, 191 FROM THE POWER OF BOSSES OR RULE OF THE PEOPLE »—AGGEPTS THE NOMINATION tt Nominee Declares Himself Free From Bosses, for Careful Downward Re- vision of Tariff and for Laws to Cure Evils of Trusts. GBA GIRT, Aug. 7.—Before an audience of distinguished persons Gov. ‘Woodrow Wilson was to-day formally notified of his nomination for President by the Democratic party. He accepted the nomination in a ringing speech on the right of the people to rule. ‘We must epeak,” he said, “not to catch votes, but to satisfy the thought and conscience of a people deeply stirred.” Much of the nominee's speech was de- voted to the tariff. He declared him- elf in favor of a downward revision, fut eald the changes should be made ‘only at such a rate and in such @ way a9 wou'd least interfere with the nor- mal and healthful course of commerce and manufacture. Th discussing the trusts, he said ft would be necessary to supplement the present law with such laws, both etvil ‘and criminal, as would effectively pun- foh and prevent vicious methods. Gov. Wilson made a strong demand for reform in the currency system. “No mere bankers’ plan will meet the re- quirements, no matter how honestly conceived,” he maid. “It should be @ merchants’ and farmers’ plan as well, elastic in the hands of those who use tt As an indispensable part of thelr daily business.” Gov, Wilson discussed @ wide range of subjects, demanding justice for the Phitippines, a revival of our merchant marine and the abolition of special privi- feke and private control of the affairs of the nation, Lastly, he declared him- welf independent of bosses by saying he could not have sccepied @ nomination which left him bound to any man or troup of men. GOV, WILSON’ CH ACCEPT. ING THE NOMINATION. Gov. Wilson's speech' was as fol- low: “Speaking for the National Democratic Convention, recently assembled at Balti more, you have notified me of my nom: nation by the Democratic party for the high oMfice of President of the United States, Allow me to thank you very warmly for the generous terms in which you have, through your distinguished Chairman, conveyed the notification, and for the thoughtful persona! courtesy sith which you have performed your tn- teresting and important errand. “T mecept the nomination with @ deep tense of its musual algnificance and of the great honor done me, and also with a very profound sense of my ponsl- bility to the party and to the nation, You wit expect me in accepting the Cowardly, Says the Governor, to Attempt to Do Too Little, “Plainly, tt 1s a new age. The tonto of such a the is very exivlarating, It requires sclf-restraint not to ettempt too much, and yet it would be cowardly | to attempt too iittle, The path of duty soberly and bravely trod is the way to nerviee and distinction, and many ad. ‘Venturous fect seek to set out upon it. “There never was a time when im- patience and suspicion were more keenly aroused by private power self ishty employed; when jealousy of everything concealed or touched with any purpose not linked with general good, or inconsistent with it, more sharply or immediately displayed itself. “Hor was the country ever more honor to epeak very plainly the faith that fe in me. You will expect me, in brief, to talk polities and open the cam- paign in words whose meaning no one need doubt. You wit expeot me to speak to the country as well ae to yourselves. CONDITIONS OF THE CAMPAIGN CLEARLY UNUSUAL. ) “We cannot intelligently talk poll- tice unless we know to whom we are talking and in what circumstances. The Present circumstances are clearly un- usual. No previous political campdign im our time has disclosed anything I! them. The audience we address fe in no ordinary temper. It is no audience of partisans. Citizens of every clase and party and prepossession alt together, « single people, to learn whether we un- derstand their iife and know how to af- ford them the counsel and guidance thay are now keenly aware that they stand in need of. “We must speak, not to catch votes, tut to satiafy the thought ena conscience of a people deeply stirred by the conviction that they have come te a oritical turning point im their moral asd political evelopment, ve stand in the presence of an kened nation, tmpatient of partisan make-believe. The public man who does not realize the fact and feel ite #timu- lation must be singularly unsusceptible to the influences that stir in every quarter about him. The natton has @wakened to a sense of neglected ideals and neglected duties: to a consciousness that the rank and file of her people find life very hard to suatain, that her young men find opportunity embarrassed, and that her older men find business dificult vantage which have interlaced their subtle threads throughout almost every or of the framework of our present law. “he had wakened to the knowledve that ehe hae lost certain cherished) Ubertiag and wasted priceless resources which she had solemnly undertaken to hold in trust for posterity and for all mankind; and to the conviction that @he stands confronted with an occa: sion for constructi' such as has not ari up. translation of action and of polley w intend to give to the general terms of the platform which Convention at| Raximore Dut forth, should we be elect-| ttself, Interest has clashed with interest “The platform is not a programme. A| Programme must consist of measure: ministrative acts, and acts of legisia tion. The proof « eating thereof. make it edibi ‘his the on we ehall be under taterro- | ation. How do we expect to handle each of the great matters that must be} taken up by the next Congress and the| next Administration? | “What fe there to do? It is han? to gum the great task up, but are two great thin to do. One ta to ect up the rule of justice and of right in such matters as the tariff, the reg- ulation of the trusts and the prevet tion of monopoly, the adaptation of| ‘thi Plainly, not with questions of party, not ‘with @ contest for office, not with a petty strugsie for advantage, Democrat against Republican, liberal against oon- Gervative, progressive against react! ery, With great questions of right and of Suetice. rather—questions of national development, of the development of character and of standards of action n less than of a better business system, more free, more equitable, more open to ordinary men, practicable to five und tolerabie to work under, or « better fis- cal system whose taxes shall not come wit of the pockets of the many to go into the pockets of the few, and within whose intricacies special privilege may not so easily find cover. “The forces of the mation are ae- werting themselves against every form of special privilege and private control, and are secking bigger things than they have ever hereto- fore achieved. “They are sweeping away what is hteous in order to vindicate once more the essential rights of human ife; and, what fs very serious for us, they are looking to us for guidance, isinterested guidance, at once houest and fearless, THE PLATFORM EXPRESSES THOUGHT OF THE NATION. “At such @ time, and in the presunce of such circumstances, wi! is the meaning of our problem, and what our responsibility under tt? What are our duty and our purpose? The plat- form ts meant to show that we know what the Nation ts thinking ebout, what & is most concerned about, what ft wishes corrected, and what it desirer te sce attempted that is new and con- @tructive and intended for tte long fu- ture. But for us ft te @ very practical document. We are not about to ask the people of the United States to adopt our Platform; we are about to ask them to entrust ué with office and power and the guidance of tholr affairs, They wilt ‘with to know what sort of gan we are ad of what definite i what bave selsber the point mor the our banking and currency laws to the varied uses to which our people must put them, the treatment of those who do the datly labor in our factories and mines and throughout aj! our great in- 4ustrial and commercial undertakini 4 the political life of the peo} the Philtppines, for whom we hold gov- ernmental power in trust, for thelr ser- vice not our own. “The other, the additional duty, is the @reat tawk of protecting our people and our resources and of keeping open to the whole people the doors of op- portunity through which they must, generation by generation, paas if they are (0 make conquest of their for- tunes in health, in freedom, in peace and in contentment. In the perform: ance of this second great duty we a face to face with questions of conserva- tion and of development, questions of forests and water powers and mines and water ways, of the bullding of an adequa.e merchant marine, and thi opening of every highway and faclllt: and the setting up of every safeguard | needed by a great industrious, expand- ing nation. | QUESTIONS TOO OFTEN S8ET- TLED IN PRIVATE. “These are all great matters upoa which everybody should be heard. We have got into trouble in recent years phiefly because these large things, Which ought to have been handled by taking counsel with a number of persons as possible, because they touched every Interest and the life of every class @nd region, have in fect ‘oeen too often hendled in private con- ference. tute for genuine common counsel. “No group of directors, economic or | w method and spirit of counse “We. are servants of the people, the whole people. The nation has been un- necessarily, unreasonably at war within | when there were common principles of | right and of fair dealing which might the pudding is the As th How do we intend to| underta d digestible? From | dation nd adjustment, spirit waich some atand, you speak of y the people; It tation or mere demagesuery. They ak what the unthinking comprehends of great you speak as { Presidential pri tariff question, dealt with in our time at any rate, hat {dea of representative government bes |comes a necessary part of the tarift| question WHO ARE REPRESENTED IN rooms and conferences? That ts the heart political, cam epesk for ® people They Whe Governor Wilson and Family at Door of Sea Girt Home 7 | edge, Our aimoulty is not that wicked statesmanahip| @"d designing men have plotted against n since the great| ts, but that our common affairs have aye In which her government was sot| been determined upon too narrow & view, and by too private an initiative. Our task is now to effect great rea Justment and get the forces of the whole People once more into play. We need no revolution; we need no excited change; 6 need only a new point of view and a should have bound them all to- ner, not as rivals, but partners, servants of all we are bound to e the great duty of accommo- “We cannot und ke It except tn a nd it hard to under- Some people only smile when urself ag a servant of ems to them Ike afte owd knows or mplicated mat- ters of government They shrug their shoulders and lift. their eyebrows when you really belleved tn Jaries, in the direct elec- tlon of United Stat ators, and int An utter publicity about everything that concerns government, from the BOY. WILSON AND HIS FAMILY a tnterests which no man the changes we make should be made only at such @ rate and in auch a Way as will le t interfere with the hormal and healthful course of commerce and manufacture. ‘But we shall not on that account net with timidity, as if we did not know our minds, for we are certain of our ground and of our object. ‘There should be an immediate re- vision, and it should be downward, eee and steadily down- “It should begin with tne schedules which have been most obviously used to kill competition and to raise prices in the United States, arbitrarily and with out regard to the prices pertaining el where in the markets of the worl and it should, before it is finished or intermitted, be extended to every item in every schedule which affords any opportumty for monopoly, for special advantage to limited groups of be flolaries, or for subsidized contro! of sources of campaign funda to intimate debate of the highest affairs of state. EVERY CLASS AFFORDS A 8AM- PLE OF THE MIXTURE. “They do not, or will not, comprehend the solemn thing that !s in your thought. You know as well as they do that there !) sorta and conditions of men: Winking mixed with the wise, the the re Kless with the prudent, the unseru- pul yon know what they # that every class, witho is with the fair and honest—and metimes forget. exception, af- the mixture, the fords a sample of learned and the fortunate no less’ than the uneducated and rhe struggling mas: “But you see more than they do. Yo see that these multitudes of men, mixed of every kind and quality, constiute somehow an organic and noble whol single people, and that they hav n privately determine without their knowledge and counsel, That ts the meaning of repre- sentative government itself, Represen- tative government {s nothing more nor less than an effort to give volce to vhis great body through spokesmen chosen out of every grade and cla: “You may think that I am wandering off into @ general disquisition that has little to do with the business in han: but I am not. This ts business,—bui ness of the deepest sort. It will solve our diMfculties {f you will but take it as business, Says the Tariff Has Become Merely a System of Favors ‘Bee how it maki 7T business out of the tariff question, not been business. It has been politics. “Tarif schedules have been made up for the purpose of keeping as large @ number as possible of the rich and influential manufacturers of the country {2 » good humor with the Republican party, which desired thelr constant financial support. The tarif has become a system of favors, which the phraseology of the schedule was often deliberately contrived to conceal. ‘It becomes a matter of business, of legitimate business, only when the part- nership 6nd understanding jt represents ts between the leaders of Congress and the whole people of the United State: Instead of between the leaders of C gress and small groups of manufactur- ers demanding special recognition and] consideration, That is why the general | FRAMING TARIFF BILLS? “Who, when you come down to th ard facts of the matter, have been rep- resented in recent years when our tariff schedules were being discussed and de- termined, not on the floor of Congress, for that ts pot where they have been Getermined, but in the committee of the whole affair, Will you, can you, Dring the whole people into the partner. | sip ar not? No one ts discontenred | with representative government: it falls under question only when it ceases to moment about the policy of protection, concelved @nd carried out as a disin- terested statesman might con It. ‘Our own clear convistion as Demo- crate 1s, that In the last analysis the only and legitimate object of tariff duties, as of taxes of every other kind, ts to raise revenue for the support of the Government; but that {s not my Present point. “Ww itigg the Payne-Aldrich terttt act as tl Most conspicuous example ever afforded the country of the special favora and monopolistic advantages which the leadera of the Repubi! party have so often shown themselvo: willing to extend to those to whom they looked for mpaign contributions. “Tariff duties, as they have em- ployed them, have not been # means the contrary, hs sg contrary, a method of fostering special privilege. They have made At easy, 0 establish monopoly in our domestic markets, ‘Trusts havo owed their origin and their secure power to them. The economic free- dom of our peo; our prosperity tn trade, our untrammeled energy in manufacture depend upon their re- consideration from top to bottom in an entirely different spirit. SAYS DEMOCRATS SHOULD ACT WITH CAUTION, ‘We do nat ignore the fact that the usiness of @ country like ours ts ex- ceedingly senattive to changes in logis. lation of thia kind. It has been built up, however ll-advieedly, upon tariff schedules written tn the way T have !n- dicated, and tts foundations musi too radically or too suddenly disturbed. representative. It 18 at the bottom question of good faith and morals, “How doen the present tariff look tn “When we act we should act with cau- tion and pr what they ai ot be nce, like men who know | about, and not like those | any kind tn the markets or the enter: prises of the country; until special favors of every sort shall have been absolutely withdrawn and every part of our laws of taxation shall have been transformed from a aystem of govern- mental patronage into a system of just and seasonable charges which shall fall where they will create the least burden. “They have insisted very anxiously that these committees should be made up only of their “friends; until the country in ite turn grew suspicious and wondered how those committees were being guided and controlled, by what in- fluences and plang of personal advan- tage, Government cannot be wholesomely conducted in such an atmosphere. Its very honesty 1s in Jeopardy. Favors are never conceived in the general inter they are always for the benefit of the few, and the few who seek and obtain them have only themaclves to blame if presently they seem to be condemned And distrusted. “For what has the result been? Pros perity? Yes, if by prosperity you mean vast wealth no matter how distributed, or whether diatributed at all, or not; if you mean vast enterprises built up to be presently concentrated under the control of comparatively small bodies of who can determine almost at pleasure whether there shall be compe- tition of not. The Nation as a nation has grown immenaely rich. She {s just- ly proud of her industries and of the genius of her men of affairs. They can master anything they set their minds to. and we have been greatly stimulated | leadership and command. Their laurels are many and very gree We must accord them the great hono that are their due and we must pre- serve what they have built up for us. at of the other side of the picture? Tt is not a y for us to live as it used to be. buy as much. High wages, even we can get them, yield us no great com. fort, We used to be better off with | because a dollar could buy more. The majority of us have been disturbed to find ourselves growing . poorer, even though our earnings were slowly in- creasing. Prices climb faster than we can push our earnings up. “Moreover, we begin to percelve some things about the movement of prices that concern us very deeply, and fix our tention upon the tariff schedules with @ more definite determination than ever to get to the bottom of this matter. We have been looking into Jt, at trials held under the Sherman Act and in In- vertigations In the committee rooms of Con;"resa, where men who wanted to know the real facts have been busy with inquiry! and we begin to see very clearly what at least some of the meth- ods are by which prices are fixed. PRICES NOT FIXED BY MARKET COMPETITION, “we know that they are not fixed by the competitions of the market, by the ancient law of supply and mand which is to be found stated in all the primers of economics, but by private arrangements with re- gard to what the supply should be Country Is Now Suspicious of Committees in Congress ‘When we shall have done that, we fon our farms and on the sea, Is of the! can fix questions of revenue and of business adjustment new spirit and with clear minds. We shall then be partners with all the business men of the country, and a day of freer, more stable prosperity shall have dawned. “There has been no more demoralizing influence in our politica in our time than | the influence of tariff legislation, the | influence of the idea that the Govern- ment was the grand dispenser of favors, | the maker ‘and unmaker of fortunes, | and of opportunities such as certain | men have sought in order to control the movement of trade and Industry throughout the continent. It has made the Government a prize to be captured and parties the means of effecting the capture. It has made the business men of one of the most virile and enterpr! ing nations in the world timid, frettul, full of alarms; has robbed them of self- confidence and manly force, until they have cried out that they could do noth- in ing without the assistance of the Gov- ernment at Washington. It has made thom feel that their lives depended upon the Ways and Means Committee of the House and the Finance Commit- tee of the Senate (in these later years ‘ticularly the Finance Committee of the Seni things? Who handed our economic laws over to them for legisiative and con- tractural alteration? We have In these disclosures sti!! another view of the tar. 1ff, atill another proof that, not the peo- ple of the Unit States but only a very small number of them have been part- ners In that legislation. ‘Those few have learned how to con- tro! tariff legislation, and as they havo perfected their control they have con- oltdated thelr interests. Men of the interest have drawn togother, have united their enterprises and hav> formed trusts; and truats can control prices. Up to a certain point (and only up to @ certain point) great combina- tons effect great economies in adminis tration, and increase efMfolency by sim pilfying and perfecting organization; but, whether they effect economias or not, they can very easily determine prices by intimate agreement, #0 soon as they come to control a suMicient per- centage of the product In any great line of business; and we now know that they do, T am not drawing up an Indictment gainst anybody. This ts the natural history of auch tariffs as are now con- trived, as it Is the natural history of all other governmental favors and of all Icenses to use the government to help certain groups of individuals along in life. Nobody tn particular, I™ suppose, Js to blame, and I am not interested Just now “in blaming anybody; I am simply trying to point out what the tuation is, in order to suggest what there is for us to do If we would serve the country as a whole. “The fact 1s that the trusts have been formed, have gained all but complete control of the larger enterprises of the country, have fixed prices and fixed them high so that profits might be rolled up that were thoroughly worth while, and that the tariff, with it ficial protections and stimutation: them the opportunity to do these things, and has safeguarded them in that op- portunity. WHY THE GREAT TRUSTS HAVE BEEN FORMED. “The trusts 4o not bdelon; perlod of infant industries, to the ey are that old, laborious time, when the great conti- nent werlive on was undeveloped, the young nation struggling to find itself and get upon its feet amidst qider and more experienced competitors. They be- long to a very recent and very sophisti: cated age, when men knew what the! wanted and knew how to get it by the fevor of the government. It is another chapter in the natural history of power and of ‘governing classes.’ ‘The next chapter will again, There will tragedy in tt. set us free be no flavor of It will be a chapter of readjustment, not of pain and row disturbance. It will witness a turning agreements among the pro- ‘ucers themselves. Those who buy are not even represented by counsel, ‘The high cost of living is arvanged private understandin We naturally ask ourselves, how id these gentlemen get control of these The Old Order o back from what {s abnormal to what It will see @ restoration of which are the laws {s normal. the laws of tra of competition and unhampered oppo: tunity, under which men are set fre the Nation. f Competition ft every sort and encouraged to enrich easence of our national lfe. “There can be nothing wholesome un- Jess their life is wholesome, there can be no contentment unless the: con- tented. Thetr physical welfare affects the soundness of the whole nation. We shali never get very far in the set- tlement of these vital matters ao long as we regard everything don Workingman by law or by private agree- ment as & concession yielded to Keep him from agitation and a disturbance of our peace. Here, again, the sense of universal partnership must come into play if we are to act like statesmen, Qs those who serve, not a class, but a! nation. “The working people of America,—It they must be distinguished from the minority that constitutes the rest of it, are, of course, nation. No law that safeguards the'r lfe, that Improves the physical and Moral conditions under which they live, that makes their hours of labor rational nd tolerable, that gives them freedom to act in their own interest, and that protects them where they cannot pro- tect themselv: garded as cl thing ‘ut of can properly be re- legislation or as a measure taken in the the whole people, who: in right action we are try- ing to establish and make real and Practical. It is in this spirit that we shall act if we aro genuine spokesmen of the whole country. “AS our programme tn disclosed—for no man can forecast it ready-made and before counsel te taken of every one concerned—this must be its meamire and standard, t! Interest of all concerned. Fot *xample, in dealing with the com- plicated and di Mcult question of the ré- form of our banking and ourrency lawa, {t fe plain that we ought to consult very many persona besides the bank- distrust the bank- they do not necessarily comprehend the business of the country, notwithstanding they are indispensable servants of it and may do @ vast dea! to make it hard or easy. Favors the Full interest Partne! of the Campaign Expenses “We have been anxious that all cam- Paign contributions and expenditures should be disclosed to the public tn fullest detail, because we regarded the influences which govern campaigns to be a8 much a part of the people's business 4s anything else connected with their government. We aro working towards A very definite objec. the universal partnership tn public affairs upon which the purity of politics and tts alm and spirit depend. “We must revive our merchant marine, too, and fill the seas again with our own fleets. We must add to our present post-office service & Post as complete as that of other nation. We must look to Realth of our people upon every 24, a8 well as heartes them with Justice and opportnaity. ‘This is the Constructive work of government. ‘This is the policy that has vision and a hope and that looks to serve mankind. “The question of a merchant marine turns back to the tariff again, to which ‘all roads seem to lead, and to our reg- istry laws, which, {f coupled with the tariff, might almost be supposed to have been intended to take the Amer- foan flag off the seas. Bounties are not necessary, if you will but undo some of the things that have been done. ‘Without a great merchant m cannot take our rightful place commerce of the world. “The very fact that we have at taken the Panama Canal seriously in hand and are vigorously pushing it toward completion ts eloquent of our re-awakened interest in international trade. “We are not building the canal ané pouring out million upon million of money upon its construction merely to establish @ water connection be- tween the two coasts of the conti- nent, important and desirable as that may be, particularly from the point of view wal defense. It is meant to be # great international highway. It would be @ little ridiculous if we should build it and Sa for the) the, backbone of the | we | “Wo mere bankers’ pian will meet the requirements, no matter how honestly conceive Tt should be & merchants’ and farmers’ plan as ‘well, elastic in the hi of those who ase it a1 indispensable part of their daily business. "E do not know enough about this subject to be dogmatic about It, I know only enough to be sure What the part nerships in it should be, and that the control exercised over any system we {may set up should be, as far as sible, @ control emanating, not fv single spectul class, but from the Jeral body and authority of the Nation itwelf, | PLEA FOR JUSTICE JN THE PHI IPPINES. In dealing with the Philippines, we should not allow ourselves to stand {upon any mere point of pride, as tf. in oriet to Keep our countenance tn t families of nations, it were necessa for us to make the same blunders 1 selfishness that other nations have mace. We aro not the owners of the Phillppine Islands. We hold them in trust for the people who live in them ‘They are theirs, for the uses of the!r lite. We are not even thelr partners. It is our duty, as trustees, to ma’ whatever atrangement of government will be most serviceable to thelr free- dom and development. Here, again, we | Are to set up the rule of Justice and of right. “The rule of the people is no idle Phrase; those who believe in It, as who does not that has caught the real spirit of America? believe that there can be no rule of right without {t; that right In politics 1s made up of the in- terests of everybody, and everybody should take part in the action that is to determine it. We have been keen |for Presidential primar | rect election of United States Senators, jbecause we wanted the action of the Government to be determined by persons whom the people had actually desig- jmated as men whom they were ready ito trust and follow. Publicity i gn Sete & eile & ere ee “A Presidential campaign may eaeily degonerate into a mere personal con- test and so lose its real dignity al significance. There 1s no indispensable man “What ts our cause? The people's cause? That {s easy to say, but what does it mean? The common ‘as against any particular Interest whatever? Yes but that, too, needa translation Into acts and policies, represent the desire up an unentangled government rnment that cannot be used for purposes, either in the fleld of business or in the field of politica; government that will not tolerate th: use of the organization of a great part to serve the personal aims and am tions of any individual, and that ¥ not permit legistation to be enn! to further any private intersrt. 1 a Rfeat conception, but } 9, ' serve It, as you also 0” “E conld not have ac tion which left ms i man or any grow of men oan be just who is not free. man who has to show favors o to undertake the folevn res Dillty of woverament in anv + poet whatever, least of 211 in +1 ennreme post of President of ths United states. “To be free ia not necersarily to wise, But wisdom comes with coun |with the frank and free conference 0 untrammeled men united in the com |mon interest. Should U be entruste} with the great oMfce of President { would seek counsel wherever it cou!) be had upon free terms, I know th» temper of the great convention whic! nominated me; I know the temper of the country that lay back of that eon- vention and spoke through it. I heed with deep thankfulness the messaze you bring me from It. I feel that I am surrounded bx men whore principles and ambitions are those of true ser- vants of the people. T thank God, and take courage. ee TRE STORY OF TEE WOTTFICA- TION OF GOV. WILSON WILL BE FOUND OW FAGE 1. Can Never Again Be Restored “T am not one of those who think that competition can ‘be established by law inst the drift of a world-wide economic tendency; nelther am I one of those who believe that business done upon a great scale by a single organi- zation—call it corporation, or what you will—is necessarily dangerous to the MUberties, even the economic lberties, of a great people like our own, full of intelligence and of indomitable energy. Iam not afraid of anything that is normal. I dare say we shall never return to the old order of individual competition, and that the organization of business upon @ great scale of co- operation {!s, up to @ certain point, \teelf normal and inevitable. “Power in the hands of great busi- ness men does not make me appre- hensive, unless it springs out of ad- vantages which they have not cre- ated for Yhemselves. Big business fe not dangerous because it is big, » prt ought mot to enjoy. “Wihfle competition cannot be created oy statutory enactment, it can in large measure be revived by changing the laws and forbidding the practices that | willed it, and by enacting laws that will |give it heart and occasion again. We ean arrest and prevent monopoly, It |has assumed new shapes and adopted |new processes our time, but these lare now being disclosed and can be dealt with. ANTITRUST LAW SEEMS TO BE | INEFFECTUAL. | phe general terms of the present |wederal Anti-Trust law, forbidding |‘combinations in restraint of trade,’ |have apparently proved _ ineffectual. |Trusts have grown up under its ban very luxurtantly, and have pursued the thods by which so many of them have biished virtual monopolies without serious let or hindrance, It has roared against them like any suck- |e dove. I am not assessing the r sponsibility. I am merely stating the fact. “phere are vast confederacies (as X may perhaps call them for the sake of convenience) of banks, rail- ‘ways, express companies, iusurance anies, manufacturing corpore- the light of it? 3 aay nothing fog tho in love with ea theory. Us. ubvioug thay a minigg corporations, power and development companies and all the rest of the circle, bound together by the fact that the ownership of their stock and the members of their boards of directors are con- trolled and determined by compara- tively small and closely inter-re- lated groups of persons who, by their informal confederacy, may comtrol, if they please and when they will, both credit and enter- “Only @ very little while ago our men of business were united in resisting every proposal of change and reform as an attack on business, an embarrass- ment to all large enterprise, an tntima- tion that settled ideas of property were to be set aside and @ new and strange orfer of things created out of hand. While they thought in that way progress secmed impossible without hot contsst and « bitter clash beween interests, al- most @ war of classes, Common counsel seemed all but hopeless, because some of the chief parties in interest would not take part—seemed even to resent (ls- cussion as a mi tation of houtility toward themselves. They talked coa- stantly about vested interests and were very hot. “It 19 @ happy omen that their atti- tude has changed. They see that what is right can hurt no man; that a new ad- justment of interests is inevitable and desirable, {9 in the interest of every- body; that their own honor, thelr own Intelligence, their own practical comp: hension of affairs {s involved, They are beginning to adjust their business to the new standards. Their hand is no longer against the nation; they are part of it, their interests are bound up with its interests. This {s not true of all of them, but ft is true of enough of them to show what the new age ts to be, and how the anxieties of statesmen are to be eased, if the light that fe dawning broadens into day, NATION DEPENDS ON CONTENT: ‘MENT OF LABOR, “Tf I am right about this, {t te going to be easier to act in scordance with the rule of right and justice in dealing with the labor question. The so-called labor question {8 @ question only be- cause we have not yet found the rule of right in adjusting the interests of twhor and capital. The welfare, the hap- Piness, the energy-and spirit of the men and wor who do the dally work in our mines and factories, on our ri roads, ig our offices and marts of dames McCreery & Co. 23rd Street SPECIAL On Thursday and Friday, August the MEN’S FURNISHINGS. Soft Shirts of All Silk and Silk Mix- values 4.00, 6.00, 7.00, tures, Tennis Trousers of Flannel or Serge. values 5.00 and 6.00. Soft Shirts of Madras and Mercerized Various patterns. materials, “Auto” Dusters English - made Fine White Lis} Drawers. 23rd Street values 3.00 and 4.00. MEN'S UNDERWEAR. Athletic Shirts, shaped model. 6Oc each Imported Ramie Shirts and Drawers, Various models. usually 2:00, 950 each usually 600, 35c each 34th Street VALUES Sth and eth In Both Stores, 2.95 2.95 95c values 1.50 and 2.00 in various colors 1.95 In Both Stores, Fine Lisle Thread usually 1,00 le Finished Shirts and 34th Street 4