| Show CONFIDENCE RESTORED IS AND THE NATION IS PROSPEROUS During the th last test five fLYe ie years yeaS business a confidence has been H and the nation is to be congratulated because e I of A f its present presen pres nl i a bounding prosperity Such prosperity ran can never be created I by hy law alone although It is easy ea y J enough to destroy t It b by mischievous I laws If Jf the hand haft ot tae Lord is heavy 1 upon any country n it flood fl or drouth I comes human wisdom w I i if 1 powerless to I avert the calamity Moreover no law cnn rt n guard us WI who are of our own folly fony foe The men idle idl or credulous re ul tb men me who seek eek gums gains not by hy int with head bead beador or hand ha nd but bin by b m any an form are arc always y a It fOul e yf ot not only to t themselves bot t im Oth If th business w rA i Xia f W it loses what legi I 1 p py ly Fun Fundamentally th tot l each citi citizen zen n and therefore th Jie lt welfare tre re of the aggregate of f wM a makes m keti the nation must m t rest upon pon thrift and energy en resolution r and Intelligence Nothing can an take taie the place of 0 this in individual Individual rapacity capacity but wise wilt legislation sn ot n nd i 1 honest hone fit and a nd intelligent li liin n an can gin Kiv it the fullest t scope the largest opportunity to tb work to good effect eTed The tremendous and highly complex industrial development Jent which went on with ever yer accelerated rapidity during daring th tho laur la tf r half of ot the nineteenth cen century centry cent try tury t rv bring ng us Ott race to face taco at the be he h of u the l Uel with wl 1 very se at s rious social problems The oW old laws ws and the old customs which had almost the binding force of law Jaw were wore once quite sufficient to regulate the accumulation lation latton and distribution of wealth Since the industrial changes which have so enormously f l increased the productive power of mankind they are no longer sufficient t Creation of Great Grat Fortunes The growth of cities dUes has gone on be faster than the yond nd comparison growth of the country o and the up building bu hii of the gnat industrial u centers hat has meant a startling increase not flot ot merely in the aggregate of a b bIn bul bulin in the number num r of very VEr terge ge indi Indu individual U and ana especially of very large tarJe corporate te fortunes fortune The creation ott of the e fret t corporate fortunes has ns fl to the tariff nor n r to an 01 mental action but hut to natural n tur the business world wend countries as they operate In Our ourThe own f 4 The process has aroused much f 4 ff f 4 antagonism a great preat reat part of wl ch chIs It II is f is wholly without warrant arrant 4 not true tru that a u is the kh have f 4 grown tim Ow poor have grown 4 4 poorer On ill Il Contrary 9 never n er 4 4 before rf has the e man U Ie e 4 4 tho th the 4 4 email trader so s well off as 4 4 in this country and anti at the tha present 4 4 time There have been abuses abases con 4 4 n with th h accumulation of 4 4 ilith it remains true that a 4 4 t fortune accumulated in legitimate 4 4 4 A business can be accumulated by bythe bythe 4 f the person reon specially benefited only Ii y yon 4 4 on condition of conferring ring im 4 4 mease incidental benefits upon 4 i 4 others Successful enterprise of 4 the type which benefits all man mankind 4 4 if kind can only exist if the condl condi 4 4 U na are se such as to offer great 4 14 prizes p as the rewards of success 4 I The captains of industry who have hav I driven the railway systems across this continent who have built up our com comi commerce commerce i merce who have developed our manu mann manufactures manufactures tortures have on the whole done don great t good to our people Without them the material development of which we e are areO area a sp O Justly proud could never have taken place Moreover we should recognize the immense importance to this mate material material rial risi development ent of leaving pored red as is compatible with the pub pun public lie Itc good the strong trong and forceful men upon pon whom the success of business 5 op operations operations operations inevitably rests The slight light slightest lightest est eat study of business conditions will satisfy any one ont capable of forming a judgment that the personal equation is isI Ise tie e most moat important factor in a business I operation q that the business ability of f the man at the head bead of any arY business bu ineN concern big or little is i usually the fac factor top tor which fixes the gulf between ig success and hopeless failure Dealing With Corporations J j An Au additional reason for fur caution in f with corporations corpora is i to be lie bein found in the international commercial conditions of It today The same busi html business business ness flees conditions which have produced I Itile the tile great t aggregations of oi corporate and Individual wealth have han made them unary rv potent factors fator in international commercial commer competition Business con cop concerns earns cerns which have hae the th largest means at 1 their disposal rind and are arp managed by the ablest men are arp naturally those which J fake the lead in the th strife trift for dimmer commer commercial cial elal supremacy among the nations of nf I the world America his hl only just be begun begun gun to tn assume that thU commanding poi position poin tin tion n in iu the international business bU work world which we believe wilt will more and more be hers It is of the utmost import j that this thi position be not jeopardized i especially at a time when the overflowing abundance of ot our own nat flat natural ural resources and the th skill business 1 energy and mechanical aptitude a of f our r u |
