Carl Schurz High School - Schurzone Yearbook (Chicago, IL)

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WALTER F. SLOCUM Principal

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a9QQGc Q?-X ,MEI UGSAQQQ- .eQQ9e- -aSsSQo. ,'5'Sl0-L 'viggo' Bureaucracy I HERE are two kinds of people in the world, those who save and those who do not. Those who try to save are usually people who have fine characteristics, such as thrift, industry, integrity, a decent foresight into the future, a love of independence, and a power of self- denial. Not all the people who possess these characteristics can save, but as the generations by, these characteristics are transmitted by heredity. It is safe to say that in the long run the result will be individuals who save. It makes no difference whether a farmer saves and buys a plow and rents the plow to his neighbor, receiving a return, or whether a man makes a small saving, puts it in the bank along with millions of others, and the bank loans that money for the promo- tion of large industries. In either case the essential thought is capital. pass The United States is a land of resources. The accumulated savings up to the time of 1850 were such that no one felt any fear about the daring of capital to stretch the steel rails across the continent. Everybody wanted it to happen, although it took the amassed savings of generations in the form of capital to finance the project. The railroads grew, became powerful, abused their power. It used to be said that ownership of the highway means the ownership of everything. Upon that abuse grew the trusts, such as the coal trust, the oil trust, the beef trust, the whiskey trust, etc. Thereupon the public in its innocent way set up what it thought was the proper ma- chinery to regulate the railroads and the trusts. Take the Interstate Commerce Commission, for example, created in the 1880's to regulate the railroads. It had but little power at first. A shipper protesting against an unfair rate that was charged him by a railroad could appear before the Inter- state Commerce Commission, have a hearing, and the Interstate Commerce Commission, if it saw fit, could order the railroad to change the rate. This did not correct the evils of unfair rates and rebates, so the Interstate Commerce Commission in later years received from Congress the power to make the rates. Now a railroad has to go to the Interstate Commerce Commission to get its rate changed. The existence of the Interstate Commerce Commission and many other regulatory bodies that have sprung up since, constitutes what we call bureaucracy. I saw in the newspaper, and cannot vouch for its accuracy, the statement that there are ten million people in the United States today drawing salaries from public taxes whose sole function is to be a part of this bureaucratic, regulatory machinery. Politicians find it very easy to pay their political debts by placing on the payrolls of a bureau some friend who has assisted them to their election. If the figure, ten million, is correct, bureaucracy is a cancer that will destroy our government. , The break will come when taxes grow so high that those who own things, in other words, the man who has saved, will say, I will not pay my taxes. I am wondering if today the great financial captains, and I mean by that expression not the men who have inherited from their an- cestors enormous estates, but the men who occupy the greatest positions of financial responsibility that exist in civilization: namely, the men who control the funds that are paid into life insurance companies, the men who control the funds in our large banking institutions--I am wondering if they are properly appreciated. It is so easy to bring up a generation of young people, preaching to them the injustice that wealth exercises over poverty and sneering at capital and the men who control it, where, as a matter of fact, the men who really control the wealth of the world are so weighed with responsibility that they could not possibly represent anything except the best interests of all the people who have saved their money to take care of them in their old age, when work is no longer possible and younger people must take the helm. I understand that the savings that are put into life insurance are ten times the accumulations of our banks in the United States. An association of presidents of life insurance companies would be a body of men controlling enormous wealth-billions of dollars. I cannot see how they could possibly do anything except invest that saving in the most substantial industries in the country, and I cannot see how they could take any other position, if taxation grows too great, than to refuse to loan the capital under their control. To strip this argument down, doing away with all large words, the government is saying to capital, You may invest, but we will regulate your money after you have invested it. Do Ihear the whisper of capital answering, 'iWe will not invest ? In the light of your studies in political economy and of your talks with your parents about nnancial affairs, I suggest that you project in imagination the results that would follow from just such a controversy and compare those imaginary resultsmvvith what you have seen in the country today. To the graduating class of the Carl Schurz High School of February, 1932, I submit this thought, conscious that within a few years, and perhaps even now, they are able to weigh it without prejudice. W. F. SLOCUM. l X sg s Q, 1 1 1 l fi fix 1' :SE X 5 - -it seg 4' .M QQ? M5 5 .Q 13-' S .rig 5 I -1 Neilsiiii ' 4 . zE',sXiiSQ21:ss 1 5 A ,sw1sgmssw 5 fis SS: Essex 1 e- 1 3- :is N S 12 I as St 5 A1 ' me 1 as s 1 . 15155 f ,lfff gs 5592 r2eMf-rf' A uf 11 ,2 11 if ,Q li '- 21 5 Sf :si.s1si1 i1a1.11a21.. Qigslza X 'lush '!!1t!1:,-:5 ,B-I S 1 Fiiiflm M1515 1 vwsass s 14.11m::-S Q-11::--was i ,Y '1E'i7EE 551. WFQESTNGS nr -...-ckry f 1 5 235511511 if, e l1!1.11111 1: has .:111s1bgsc 5 s E 1' 565151: Ilis115-Mgggigii S ii we - 1. e ESE N 1, 1- M3515 sz. N fl r.. 251 lllililiiiiyfii N-1 31 1 g::::s:.1s law iiikilkiiif ' ' l3EIEsEEElN 25155255 gist-. -' ' 515112 1, ' 51135555 Ness SX: 11- 1sQ11:,:.1 :sex 11:11 we -his sz-e ssssss :W1it this .. . 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