acts that the mighty pioneer
period of America's economic development came definitely to an end a
dozen years ago, that with it came to an end practices and methods and
ethical conceptions, which in the midst of the magnificent achievements
of that turbulent period were, if not permitted, yet to an extent
silently tolerated, and that business has willingly fallen into line
and kept in line with the reforms which were called for in business as
in other walks of our national life.

The opinions of the world, and particularly of the political world,
travel along well worn roads. Men are reluctant to go to the effort of
reconsidering opinions once definitely formed and fixed.

[Sidenote: _The vacuum cleaner of reform and regulation_]

Many in and out of Congress are still under the controlling impress of
the stormy years when certain deplorable occurrences affecting
corporations and business men were brought to light, when it was
demonstrated that certain abuses which had accumulated during well nigh
two generations needed to be done away with for good and all, and when
the people went through the ancient edifice of business with the vacuum
cleaner of reform and regulation, using it very thoroughly, perhaps, in
spots, a little too thoroughly.

Not a few politicians are still sounding the old battle cry, although
the battle of the people for the regulation and supervision of
corporations was fought to a finish years ago _and won by the people_,
and although the people themselves of late, on the few occasions when
a direct proposition has been put up to them, such as recently in
Missouri, have indicated that they consider the punitive and
probationary period at an end and want business to be given a fair
chance and a square deal.

When the right of suffrage was thrown open to the masses of the people
in England, a great Englishman said, "Now we must educate our masters."

In this country it is not so much a question of educating our masters,
the people and the people's representatives [who, moreover, would
resent and refuse to tolerate for a moment any such patronizing
assumption], as of getting them to know us and getting ourselves to
know them.

[Sidenote: _The need for closer contact and better understanding_]

All parties concerned will benefit from coming into closer contact with
each other and becoming acquainted with each other's viewpoints.

Can we honestly say that we are doing our full share to bring about