The relationship between governments and the press has always been recognized as a matter of large importance. Wherever despotism abounds, the sources of public information are the first to be brought under its control. Wherever the cause of liberty is making its way, one of its highest accomplishments is the guarantee of the freedom of the press. It has always been realized, sometimes instinctively, oftentimes expressly, that truth and freedom are inseparable.…

Some people feel concerned about the commercialism of the press. They note that great newspapers are great business enterprises earning large profits and controlled by men of wealth. So they fear that in such control the press may tend to support the private interests of those who own the papers, rather than the general interest of the whole people. It seems to me, however, that the real test is not whether the newspapers are controlled by men of wealth, but whether they are sincerely trying to serve the public interests. There will be little occasion for worry about who owns a newspaper, so long as its attitudes on public questions are such as to promote the general welfare. A press which is actuated by the purpose of genuine usefulness to the public interest can never be too strong financially, so long as its strength is used for the support of popular government.

There does not seem to be cause for alarm in the dual relationship of the press to the public, whereby it is on one side a purveyor of information and opinion and on the other side a purely business enterprise. Rather, it is probable that a press which maintains an intimate touch with the business currents of the nation, is likely to be more reliable than it would be if it were a stranger to these influences. After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world. I am strongly of opinion that the great majority of people will always find these are moving impulses of our life. The opposite view was oracularly and poetically set forth in those lines of Goldsmith which everybody repeats, but few really believe: “Ill fares the land, to hastening ills a prey, Where wealth accumulates, and men decay.” Excellent poetry, but not a good working philosophy. Goldsmith would have been right, if, in fact, the accumulation of wealth meant the decay of men. It is rare indeed that the men who are accumulating wealth decay. It is only when they cease production, when accumulation stops, that an irreparable decay begins. Wealth is the product of industry, ambition, character and untiring effort. In all experience, the accumulation of wealth means the multiplication of schools, the increase of knowledge, the dissemination of intelligence, the encouragement of science, the broadening of outlook, the expansion of liberties, the widening of culture. Of course, the accumulation of wealth cannot be justified as the chief end of existence. But we are compelled to recognize it as a means to well-nigh every desirable achievement. So long as wealth is made the means and not the end, we need not greatly fear it. And there never was time when wealth was so generally regarded as a means, or so little regarded as an end, as today.

Just a little time ago we read in your newspapers that two leaders of American business, whose efforts at accumulation had been most astonishingly successful, had given fifty or sixty million dollars as endowments to educational works. That was real news. It was characteristic of our American experience with men of large resources. They use their power to serve, not themselves and their own families, but the public. I feel sure that the coming generations, which will benefit by those endowments, will not be easily convinced that they have suffered greatly because of these particular accumulations of wealth.

So there is little cause for the fear that our journalism, merely because it is prosperous, is likely to betray us. But it calls for additional effort to avoid even the appearance of the evil of selfishness. In every worthy profession, of course, there will always be a minority who will appeal to the baser instinct. There always have been, and probably always will be some who will feel that their own temporary interest may be furthered by betraying the interest of others. But these are becoming constantly a less numerous and less potential element in the community. Their influence, whatever it may seem at a particular moment, is always ephemeral. They will not long interfere with the progress of the race which is determined to go its own forward and upward way. They may at times somewhat retard and delay its progress, but in the end their opposition will be overcome. They have no permanent effect. They accomplish no permanent result. The race is not traveling in that direction. The power of the spirit always prevails over the power of the flesh. These furnish us no justification for interfering with the freedom of the press, because all freedom, though it may sometime tend toward excesses, bears within it those remedies which will finally effect a cure for its own disorders.…

It can safely be assumed that self-interest will always place sufficient emphasis on the business side of newspapers, so that they do not need any outside encouragement for that part of their activities. Important, however, as this factor is, it is not the main element which appeals to the American people. It is only those who do not understand our people, who believe that our national life is entirely absorbed by material motives. We make no concealment of the fact that we want wealth, but there are many other things that we want very much more. We want peace and honor, and that charity which is so strong an element of all civilization. The chief ideal of the American people is idealism. I cannot repeat too often that America is a nation of idealists. That is the only motive to which they ever give any strong and lasting reaction. No newspaper can be a success which fails to appeal to that element of our national life. It is in this direction that the public press can lend its strongest support to our Government. I could not truly criticize the vast importance of the counting room, but my ultimate faith I would place in the high idealism of the editorial room of the American newspaper.