Morals in Trade and Commerce

The most beautiful thing about youth is its power and eagerness to make ideals, and he is unfortunate who goes out into the world without some picture of services to be rendered, or of a goal to be attained. There are very few of us who, at some time or another, have not cherished these ideals, perhaps secretly and half ashamed as though to us alone had come an inspiration of a career that should touch the pulses of the world and leave it better than we found it. And in the making of youthful ideals we have changed very little with the passage of the centuries. The character of the ideals has changed with changing needs, but not we ourselves. Our young men still see visions; they still fill the future with conflict and with struggle and prospectively live out their lives with the crown of achievement in the distance. It is well that it should be so. The ideals of our youth are the motive-power of our lives, and even those of us who have lived far into the eras of disappointment would not willingly wipe from our memories even the most extravagant day dreams from which we drew energy and hope and fortitude and self-reliance.

If ideals have such a power over our lives, if they energize and direct our first entry into the world of affairs--as unquestionably they do--they must be counted among the real forces of the day and as such they are as much a matter for our scrutiny and control as educational development or physical perfection. Not, perhaps, in the same way, for our ideals belong to that private domain wherein we rightly resent either dictation or authority from the outside. But we can apply both dictation and authority for ourselves. With a firm determination to be upon the right side of the great issues of the day, to uphold honor and justice in public affairs, to uproot the tares and to sow the wheat in the domain of national business, we can apply our whole mental strength to a proper determination of those issues, to a correct distribution of praise and blame, to a careful adjustment of the means to the end and to a precise appreciation of the facts. We can satisfy ourselves that we have heard both sides and that enthusiasm has not deadened our ears to all appeals but the most noisy. We can see to it that our attitude is the judicial one and that our minds are so fixed upon the truth and upon the whole truth that there is no room for prejudice or for passion. All these things can be reared as a superstructure upon the groundwork of lofty ideals, for just as there can be no progress without ideals so there can come nothing but calamity from ideals that are not guided by reflection and by knowledge.

Never before has it been so hard to know the facts as it is to-day. If we must give credit to the press for the diffusion of knowledge so also must we recognize its equal power to diffuse prejudice and bias. The newspaper and the magazine of to-day are vast and intricate machines that supply the great majority of us with practically all the data upon which we base our judgments. The public mind and the popular press act and react upon one another, the press setting its sails to catch every wind of public interest and the public upon its part demanding to be supplied with all those departments of news to which at the moment it is specially attracted. Commercialism and competition have barred a large part of the press from its rightful office as leader and molder of opinion and have reduced it to the position of a clamorous applicant for public favor. The press, like everything else, is ruled by majorities, and in order to live it must cater to the weaknesses of popular majorities, it must reflect their prejudices, it must sustain their ill-formed judgments, and it must so sift and winnow the news of the day that the whims and the passions of the day shall be sustained. There are some newspapers and magazines that are honorably willing to represent only ripe thought and unbiased judgments, but they are not in the majority.

What verdict would the historian of the future pass upon the civilization of to-day if he were restricted to the files of our newspapers for his material. It must be confessed that we of to-day, in the hurry and tension of modern life, are hardly in a better position. Whatever we may suppose to be our attitude toward the press, with whatever scorn we may regard its baser features, it has an effect upon our minds far greater than we suppose. It is the steady drip of the water upon the stone that wears it away. It is the steady presentation of one aspect of human life, and that the lowest, that slowly jaundices our view and that produces either a rank pessimism or else an indignation against evil so strong as to efface judgment and to paralyze reason. Day after day we see human nature presented in its worst aspects and only in its worst aspects. We see fraud, cupidity, tyranny, and violence paraded before us as being almost the only activities worth reporting. Dishonesty is offered to us as the prevailing rule of life, and we are asked to believe that the spirit of commercial oppression has allied itself with the machinery of government for the oppression of a nation. It is a dreary picture, a picture that, if faithfully drawn, would justify almost any remedial measures within human power, a picture that by the skill of its presentation arrests attention and almost compels belief.

That we so seldom compare the picture with the original is one of the anomalies of modern life. And yet the original is before us and around us all the time, inviting us to notice that it is only the exceptional that is reproduced with attractive skill and that it is only the abnormal that is emphasized with adroit arrangements of line and color. Day after day we read of the sensational divorce cases, but there is not one line of the tens of thousands of happy marriages upon which no cloud of discord ever falls. Day after day we read of the scandals of municipal government, but how often do we remember the great army of municipal officials who do their whole duty devotedly, courageously, unselfishly? Day after day we hear of corporation tyranny, corporation lawlessness, or corporation greed, but what recognition do we give to corporations that obey the laws, whose operations are above censure and who add immeasurably to the wealth of the country and to the prosperity of every citizen in it? With this constant presentation of depravity, this incessant harping upon the one string of human dishonesty, what wonder that our visions should be distorted or that we should exclude from our horizon almost everything but the sinister features of modern life. What wonder that the young men and women should look at the career before them through an all-pervading fog of suspicion or that the days ahead of them should seem to be filled with the struggle against a universal dishonesty.

It is from such illusions as this that we must free our ideals if we would do effective work for the world and for ourselves. There are real enemies enough without erecting imaginary windmills to tilt against. Frauds, depravities, tragedies surely await us, now as ever, but we shall be doubly armed against them if we look upon them as the exceptions and not the rule and if we draw strength from the great background of human virtue and honesty. And there is such a background, unchanging, resistant, resolute, even though the limelight of publicity be persistently directed upon the few sinister figures on the front of the stage. We cannot afford to lose our faith in human nature, we cannot afford to shut out the greater and the best part of life or to gaze so persistently upon the abnormal that we can no longer see the normal and the ordinary. Let us cultivate our sense of ethical values and of ethical perspective rather than to crouch behind a shrub until it looks like a forest.

We are indebted to our commercialized newspapers and magazines for our distorted views of human life and for the cynicism that it is the momentary fashion to affect, but that is always disfiguring to the mind that harbors it. Certainly we can get no such views and no such cynicism from our own experience or from personal knowledge of the men and women who surround us. Honesty is a more familiar sight than dishonesty. All the common and familiar processes of our daily life are based upon an expectation of honesty, and if you will stop to consider for a moment you will see that those processes could not go on without that expectation. And how seldom is it falsified. Sometimes of course there comes the jar of disappointment, but the fact that there is a jar shows that it is the exception and not the rule. However much we may talk of guarantees and safeguards and securities, however much we may talk of a business method or instinct that takes nothing for granted, it remains a self-evident fact that we must take human honesty for granted, that we must assume that the man with whom we do business intends to do it rightly and honorably, that he is actuated by a settled principle of fair conduct that will work automatically, and that without this automatically working standard of behavior all our guarantees and safeguards and securities would really have very little value. It is the universal expectation of fair dealing that makes business possible and, in fact, it is this universal expectation of good behavior that makes its breach sufficiently novel to be reported in the newspapers. If fraud and chicanery and violence were the order of the day, they would have no value as news. After twenty-nine years of dealing with human nature in a business where it is seen at its extremes--at its best and at its worst--I believe that the great majority of men and women in business are honest and I am certain that if this were not so, it would be impossible to carry on business. Take the statistics of the credit insurance business, a business that may be said to be based upon an assumption of human honesty; examine the statistics of the losses made in business and you will find that these are but a small fraction of the total amount involved and even this small proportion is chiefly due to errors of judgment or to causes in which dishonesty plays no part. Ask any banker how much he relies upon human honesty as an indispensable background to the ordinary precautions and safeguards of his business. Ask him what is his attitude toward a client whom he detects in a lie or in sharp practice, and he will tell you that he has no use for such a man. He would rather be without his business and free from all contact with those whose natural and innate sense of honesty is lacking. Go wherever you like, and you will find the same expectation, the same assumption of honesty. You will find that no business can be carried on without it. Whatever high and honorable ideals you may have formed you need have no apprehension that they will be scorned in the business world or that you will have to put them away to win success. It is in the business world that they will be valued, and even the mental equipment that you are now seeking will be less important to you, a lesser guarantee of success than your sense of honor and truth and probity. When you reach the business world--and many of you perhaps will go into the great corporations that are now ceaselessly paraded before you as wolves and as public enemies--you will find there the same kind of human nature that you find here in college, the same estimation of probity and of fair dealing. If you do mean or underhand things, you will find that they are branded in the same way there as here. You will find that manliness and integrity are the rule and not the exception, and I will venture upon the prediction that when the time comes for you to look back upon your career you will see that there has been a steady improvement all along the line, just as those who are already able to look backward find that there has been an improvement since their own college days. But that will rest with yourselves, for the future is in your own hands. It is for you, gentlemen, to see that moral and ethical progress is unbroken.