Contemporary American History, 1877-1913Beard, Charles A. (Charles Austin)
History
Contemporary American History, 1877-1913
Beard, Charles A. (Charles Austin)
United States -- History -- 1865-1921
"Absolutely free enterprise" was Mr. Wilson's leading phrase. "We design
that the limitations on private enterprise shall be removed, so that the
next generation of youngsters, as they come along, will not have to
become proteges of benevolent trusts, but will be free to go about
making their own lives what they will; so that we shall taste again the
full cup, not of charity, but of liberty." The restoration of freedom
for every person to go into business for himself was the burden of his
appeal: "Are you not eager for the time when the genius and initiative
of all the people shall be called into the service of business?... when
your sons shall be able to look forward to becoming not employees, but
heads of some small, it may be, but hopeful business, where their best
energies shall be inspired by the knowledge that they are their own
masters with the paths of the world before them ... and every avenue of
commercial and industrial activity leveled for the feet of all who would
tread it?"
Mr. Wilson's economic system seems to be susceptible of the following
summary. The great trusts are "unnatural products," not of competition,
but of the unwillingness of men to face competition and of unfair
practices. Big business is the product of genuine services to the
community, and it should be allowed to destroy whom it can by fairly
underselling honest goods. The enemy is, therefore, the trust; it is the
trust which prevents everybody who would from becoming his own master in
some small business; it is the trust that has taken away the "freedom"
which we once had in the United States. The remedy is inevitably the
dissolution of the trusts, the prohibition of unfair practices in
competition--then will follow as night the day that perfect freedom
which is as new wine to a sick nation. With competition "restored" and
maintained by government prosecution of offenders, no one need have a
master unless he chooses.
Mr. Wilson's opponents saw in this simple industrial program nothing
more than the old gospel of Adam Smith and Ricardo--the gospel of
_laissez faire_ and individualism. They asked him to specify, for
example, into how many concerns the Steel Trust should be dissolved in
order to permit the man with brains and a few thousand dollars capital
to get into the steel business. They asked him to name a catalogue of
"unfair practices" which were to be prohibited in order to put
competition on a "free and natural" basis. They asked him to state just
how, with the present accumulation of great capitals in the hands of a
relatively few, the poor but industrious person with small capital could
meet the advantages afforded by large capitals. They inquired whether
England in the middle of the nineteenth century, with this perfect
industrial ideal and free trade besides, presented the picture of
utopian liberty which the new freedom promised.
Public-domain text, read in full here on John Shaqi.
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