THE BUSINESS WORLD
INdealing with business, the Progressive party is the only party which has put forth a rational and comprehensive plan. We believe that the business world must change from a competitive to a coöperate basis. We absolutely repudiate the theory that any good whatever can come from confining ourselves solely to the effort to reproduce the dead-and-gone conditions of sixty years ago—conditions of uncontrolled competition between competitors most of whom were small and weak. The reason that the trusts have grown to such enormous size is to be found primarily in the fact that we relied upon the competitive principle and the absence of governmental interference to solve the problems of industry. Their growth is specifically and precisely due to the practice of the archaic doctrines advocated by President Wilson under the pleasingly delusive title of the “New Freedom.”
We hold that all such efforts to reproduce dead-and-gone conditions are bound to result in failure or worse than failure. The breaking-up of the Standard Oil Trust, for example, has not produced the very smallest benefit. It has merely resulted in enormously increasing the already excessive profits of a small number of persons. Not the smallest benefit would accrue—on the contrary, harm would result—if in dealing with the Steel Corporation we merely substituted for one such big corporation four or five smaller corporations of the stamp of the Colorado Fuel & Iron Company. The “Survey” published a study of the conditions of life and labor among the wage-workers of this company which it is not too much to describe as appalling. The effort to remedy conditions in connection with the trusts by the establishment, instead of one big company, of four such companies engaged in cutthroat competition, cannot work the smallest betterment, and would probably work appreciable harm. That kind of “new” freedom is nothing whatever but the old, old license for the powerful to prey on the feeble.