Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1878-04-11

the promotion of the prosperity
and happiness of mankind They
are the chief rtieans tor Organizing
and milking efficient co-operatlve
effnrt iu rue empl .yrnent Of capital
and labor. Through them capital
is Aggregated. orgapized, consoti
dated, ara brought Within ibe con
trol of small tidmhers OF Intelligent
and jposcrful. ugh,ppily, some.
times. very cnrrnpt men. ahd ,Eus
it Is made effective for,great good,
100 ofte D tor EVIL, But if they have
vast cApabilities for the ddyauue-
lhent OF the prosperity of gseat
communities, they like wise afford
opportnnity to 60, aud often do
them, great harm Their history
shows hat, uniformly. when they,
are unregulated, unrestrained, and
uncontrolled by the strong arm OF
government they corrupt public
men, foster and establish burden
some monop hes, and "iteh become
tremendous engines of Illicit power
and widespread oppres>ion.-
Through such instrumentalities
the cupidity and avarice OF design
lug nen achieve tLeif most signal
triumphs.
Iu this country corporati6rs have
multiplied wonderfully within the
last fifty Yeas. They may be
numbered by the thousand, and
they EN- u, a..e nertly every branch
ofihdost.y and brrsiGess, and en-
body tbs steat Ihass OF Gdpital.
Well authenticated statistics show
tina, thrle a,e now in the United
s. ltes mo,e than Two thousand na.
tional banks, all corporations en-
bohying aud CONTROLLING nearly
$4,000, 100000, more than fo,ty.
| five hundred banks, most of them
corporations other than rational
banks, aggresating s225 100000 OF
capital stock, and depusits smuuut
ing TO moe Than $3.50 600, ,0JU ;
that there are moie than hfteer
hundred railroad corporations en-
b"dylug and controlling $1,000.
100000 There are several thous-
and other manufacturing and busi
ness corporations that control Sew
erai hundreds Of millions of doliars
That a la &c percentages OF this vast
number OF corporations, Ell braclne
some of the largest aud most intiu
entail, have not been wisely ant
sufficiently guarded and restrained
by law hat they have IN many In
stances prostituted their corporate
powers for their own illicit galu
and 10 the g,ievous det,iment 81
tho government, State and Federal
and tie people generally that they
have upduly and arbitrarily com
binea and confedet ated to di.Esl
and coutrol Industries, trade, trav
i IL, ana commerce that they have
virtually destroyed the trade q
one town or locality in order tt
hnild up another to serve sei6>l
Purposes of gain; that they have
10 some Instances combiaeo to Ell
act oppressive fieISEts and fares
from the producing classes of the
country, aud iu others, ia the ab
sence OF coInpetlon, have ex1ctEt
them hat they have. debauchec
aud unlawtully controlled legisIa
tive bodies and hupdreds of publ,
men in and out ot official sta,ioiis
tiat these evils have been fagran
, and prevailed To an alarming .ex
tent, that they now prevail to ;
grsater or less degree, 10 Hhelii
gent observer can deny their eS
istence has be ell made manifest b,
legislative aud judicial iuvestiga
ions, and the newspapers Of th'
country daily TEEN with aceount
of them.
The facts are patent. These X
cious practices have not only affect
I'd iniuriously the substantial inter
rsts of the Government and the peo
pic, they have likewise given rise t.
disgraceful piij.c scandals thai h ~
hfoHshtupen rcpr"ach upon the goo'
name of this country at home an,
abroad These thirgs have not beel
icne in corner: they have prevail
cd in All sections and have afflicted
:hc people in every quarter of th'
Union. 1t seems to be taken 70
granted thai corporations are no
f only sonllcss but, as Well; that the,
have no moral responsibility, aiic
' that no person is VI can be nlofalI.
5 responsible for tre character of n,ei
j, .rcts, This latter view is ceftaihl,
false and pernicious, but it show
the greater necessity for careful ant
stringent legislative Gorttol of sucl
artificial bodies,
: Mr.. President, i do hot hesitat
, to DECLARE MY conyitiun, that one o
!, the great risirs public dangers il
this country now is the undue, ever
r increasing power and influence o
> corporations over the material
!. moral and social interests OF Il.
, people.
; THIS snhiect ought to attract
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