88 BOAKD OF AGRICULTURE. [Pub. Doc. 



dreamed. We boast of the skill and energy of American 

 manufacturers, of our resources, of the magnitude of our 

 industrial enterprises ; and we may truly claim for our 

 country an extraordinary industrial supremacy. The other 

 thing for which America is just now conspicuous is less flat- 

 tering. We are far from proud of our notoriety in connection 

 Avitli civic corruption, insurance scandals, the beef trust, 

 railwa}^ rebates, high finance, etc. Every patriotic Ameri- 

 can blushes for these conditions, and fears for the future of 

 his country unless there shall speedily come to pass such a 

 state of public sentiment and such industrial and commercial 

 conditions as will make these things impossible. 



It does not seem to me illogical to trace some connection 

 between these two ; viz., the extraordinary industrial pros- 

 perity and the remarkable development of reckless greed in 

 great commercial and political organizations. 



An analysis of industrial progress in the United States 

 reveals this interesting fact, — that, whatever may have 

 been due to the shrewdness and energy of our captains of 

 industry, our remarkable industrial prosperity has largely 

 been on account of the fact that we have been exploiting 

 enormous natural resources in a manner which, although 

 profitable, has in most cases been with immense waste and 

 entire lack of foresight. Let me cite examples. 



Our lumber kino's have consumed the forests without re- 

 gard to the past or future ; simply harvesting what they did 

 not sow or cultivate, and which cost them little or nothing, 

 leaving the next generation to pay the cost of their profits. 

 This might be characterized as industrial recklessness. The 

 iron and steel industry avails itself in a monopolistic way of 

 deposits of ore and coal remarkable for their extent and 

 purity, and it enjoys the protection of a high tariff, amount- 

 ing to a govermnent subsidy. It thus utilizes certain 

 natural advantages and a legal handicap against its com- 

 petitors. Looked at as a matter of industrial competition 

 with the German and English iron masters, who are com- 

 pelled to use low-grade ores and costly fuel, this may be 

 called industrial unfairness. 



Not many years ago there was discovered in a group of 



