| Show CONFIDENCE IS RESTORED AND THE NATION IS PRO PROSPEROUS During the last tast five years business confidence has been restored and the j nation is it to be beo because bec ulIe of lr f its present tB prosperity I Such prosperity rity can an never be created h by law alone aloof although it U is easy ea y i t enough to de troy ft W y uR i ilaw law laws If the hand hud ot is heavy v upon any country tf It flood or drouth j I comes omps human w powerless to I the calamity Moreover no law fn cnn guard Juard us lW the consequences of our own folly The TI e meu who are j I idle idla or credulous tb tbt men ez who vho seek i gains not by Pm h l oIk rk with head I or hand hund but b by fes any ay form are arc always R ft f source ce not only I to themselves bd t t If th t h It loses toses i toms what legill fa aW e p lY IY Fun Fund d th ti Of c each cHi cHiZ z zan n and aid therefore w of the aggregate of ot 1 makes the tm nation must musi rest a upon O Individual tl thrift and energy resolution naad od nd intelligence Nothing tan can an take the pUce place of this in individual Individual individual capacity apa J but ut wise w legislation nd nr honest t anti and Intelligent it the fullest scope the tIn n tan an giVe gip largest opportunity to work to good effect The tremendous and aad highly complex industrial industria development Which went on with ever eyer accelerated rapidity during daring the la t half of ot the nineteenth c con cn n nt t r h ns u us race mace to face at the he h ginning of ta t t ept ith very se so rious riot social problems The old laws I WI WInd and nd the old customs which had bad almost the binding force of law were e once quite sufficient to regulate the accumulation a lation and distribution of wealth w h Since the industrial indu trial changes which have so 80 enormously increased the t e productive I power of mankind they are no longer sufficient Creation of Great The grow growth th of t titie Hit has gone oat be bend ber r nd comparison n faster than t an the th grow growth th of the country and anel the up building of the gnat trial centers 1 has ha meant a startling increase I not B M 4 merely in 10 the of a tUt b bu but butin t tin in the r umber r of Or f ver very large l rge individual and p E r ecial of f 1 very large targe cOrporate te tJ fortunes fortune The creation of ot great t corporate fortunes has n nto to the tariff nor to an anI ot oTher 7 mental action hut but to I n natural tural ta e the business world oper IB J as the they Y operate In our ourThe 1 f The pr K ess es has aroused It antagonism a 11 pie geat tt part of which ch 4 f i h wholly hoil without warrant It is I Int I f not nt th I h t i t a as the rich have r rf f K i ri r hf the th poor po r have grov n f ff f poorer on Un th thy contrary never 4 4 before has the uv average crage man the 4 I the rarer farmer th the 4 4 small mali been bt en so SQ v neli ell off as ae aein 4 4 in this country and at the present 4 4 time There have been abuses con 4 j with Mt i th the accumulation of 4 1 4 wealth w wt Jt t it lem i true a a 4 t j I Ia a 4 fortune accumulated in legitimate 4 4 business can eon be accumulated Jated by bythe 4 4 the person specially benefited only iy 4 4 4 on condition eom of conferring ring im 4 4 mense men e incidental benefits upon 4 4 others Successful enterprise of 4 the type which benefits all man mankind mankind 4 kind can only exist if it the tile condi 4 4 tiOng tl ns are such as to offer great 4 4 prizes prima as the rewards of success 4 The captains of industry who have driven the railway systems across acro s this continent who have built up our com corn commerce commerce merce who have developed our manu mann manufactures t ture have on the whole done great t good to our people Without them the material development of or which we are areso areso so If Justly proud could never have ve taken place Moreover we should recognize the immense importance to this mate material material rial nial development of leaving us unhampered pored as is compatible with the pub public lie lic good the strong and forceful men whom the success of business op operations orations Inevitably rests The slight slightest est eat study of business conditions will satisfy any aRY one ont capable of forming a judgment that the personal equation is the t e most important factor fador tor in a business ration that the business ability of C the theman man at the head of Dr arr aty ar business concern c big or little is usually the fac far factor factor tor ton which fixes the gulf between sink striking lug ing g success and hopeless failure Dealing With Corporations An additional reason leason for caution in with corporations is to he be found in the international c commercial conditions of today The same ame busi business ness neu conditions con have produced the great aggregations of corporate and Individual wealth have made mad them rv potent factors in m international co lal competition Business con concerns contis I cerns which haw have the largest Ja elt means at their disposal dl al and are an managed manag d by the ablest men are naturally those which take the lead in the strife for commer rial elal supremacy i among nong the nations of the world America u Ia i ha has only just be begun begun gun to assume RS tint that po poi pod i in the international business world which we believe bellec will more moie and more he be hers ber It is of nf thE utmost import importe e that this thiR position be not Jeopardized jeopardized jeopardized especially at a time when ahen the abundance of our own nat natural ural resources s and the skill business energy and m haiRal aptitude a of or our v |
