The sort of officialism of
which the excavations at Panama or the reclamation service is a sample
has as much chance of being efficient under suitable conditions as has
the work of a private corporation. The government assumes complete
charge of a job, and pushes it to a successful or unsuccessful
conclusion, according to the extent with which its tradition or
organization enables it to perform efficient work. Moreover, there is a
certain kind of official supervision of a private business which does
not bring with it any divided responsibility. Perhaps the best
illustration thereof is the regulation to which the national banks are
obliged to submit. In this case the bank examiners and the Controller do
not interfere in the management of the bank, except when the management
is violating certain conditions of safe banking--which have been
carefully defined in the statute. So long as the banks obey the law,
they need have no fear of the Treasury Department. But in commission
government the official authority, in a sense, both makes and
administers the law.
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