Telegram-herald., 1890-04-30
LOOKING FORWARD.
Warren Chase on How to Regulate
Corporations.

Corporations.
have often conversed with persons
OF prominent positions in business about
my plan to break up land monopoly,
and | have never found a reasonable
/ objection, As 1t dlsturbs no present
I Titles and really INJURIES no land holders
I except the comparatively few who want
/ to speculate IN thousands and tens or
/ thousands OF acres.
For corporate mOnopOlies have an
equally efficient remedy against their
EVIL influences, and the pubic robberies
now carried on by them. The proposed
remedy would, | think, put an end TO
most OF the strikes and complaints of
labOrers. | do not think il would be
good policy for the Government to pur-
chase the railroads, telegraph, tele-
phone and express lines, as II would
encumber Us with an enormous debt
that would have 10 De- paid with inter-
{ by taxation OF some kind. COrpOr-
atoms seem 10 me TO be necessity for
combining capital for gigantic improve
ments which can not DC accomplished
by individuals.
Our courts have settled the question
of legislative control 10y deci ing that
the power which creates a corporation
can restrict It's business, regulate IT.,
control It, or even annul It's charter.
TINS = all that Is needed when we
have some of the legal talent of the
country % work for the people as all
mas been heretofore to work for cor
pOratOns both INSIDE and ohtslde Of
legislation. and which have resulted IN
.1NI To f.r-f -
issue of stocks and bonds without 4
consideration, and by which scores Of
parasites have been made milhOnaires
without having earned or inherited eX-
cept IN these debtsi any real capital.
10 is now estimated that the people of
this county are paying interest
and dividends on twenty-thTee bill
hons OK dollars of this kind of indeht-
eduess winch the corporations do not
paw except as they collect 10 from the
people who use their plants. The
tn0n Pacific Telegraph Company Is
reported as having over eighty millions
ot dollars lu stocks and bonds. based
0u plant that cost less than twenty
i've million dollars. and the express
comp3u : are Inn about the same pro-
portion. and are utterly useless, rs the
well for less than one-f0urth Of what
We now have to pay % keep up these
monopolIes. which snare their profits
with the railroads to keep them from
doing the business. The telephone cor
poration "a gong on the same route "a
the telegraph. and the natural stock Of
the railroads aud other improvements
which We can n0t dispense with, is
enormous.
I would have the powers that create
these monopoles, National AMI state.
compel them all 20 cut down their
stocks. bonds. and Indebtedness 10 the
actual cost 0t the plant. snd bv law re-
strict their dividends On a good per
cent. sufficient to ensure the safe n
vestmeut. Had the corporations been
property guarded in the interests of the
people. there never would have been a
dollar Of stock or bombs ssued hv them
except for f1ll sdersto1 in cash or
- cgn vaient This iimrt would enable
them to paw wages sufficient to prevent
strikes and REFUGE pub. c charges from
one-lourta % ore-hsIf. conhrste tne
vafered stock srd .et up the burdens.
I "a attend to some others ln my next
loodan~ Ili. WkFREV CHksE.
Tn Ri g.0-P PhilosopnlC al Journal