The record-union., 1891-10-19
UNPOPULARTTY OF CORPORA
TIONS.

A careful student of modern economic
methods of business finds corporate re-
lation to be the most convenient means
of associating the capital of individuals.
1t is the most effective and direct method
of competing with individual capital.
Partnerships and associations have their
draw backs as methods of associating
capital. In the case Of partnership, it
may be dissolved by the death of one of
the partners. A corporation, therefore,
with fixed tenure of perpetuity, is the
most convenient method of partnership,
and, as already indicated. enables num-
Der Of people possessed of small means to
counteract the monopoliZing influence Of
large individual wealth. It also enables
the prosecution Of great enterprises such
as are beyond the possibility of being ac-
complished by individual fortunes.
Notwithstanding this, corporations are
uniformly unpopular. They are looked
upon with distrust, and since this dis
trust is apparently without reason, we
have taken some pains to seek out the
source of this unpopularity.
In the first place, corporations are i'm
personal. The entity known as "The
Company" has no personality. 1t is
therefore devoid Of qualities of character
or personal characteristics Of any kind.
1t is impossible to make individuals or
aggregates Of individuals into communi-
| ties, or aggregates of communities into
| commonwealths feel any personal at
| tachment for an incorporeal entity, which
1 is without personality and devoid of per-
/ sonal characteristic.
! The most potent source of unpopularity,
! however, resides in the fact that what
! ever of generosity it manifests is usually
attributed to the individual through
whom it is manifested. Whatever OF
harshness, or oppression or exaction it is
| guilty of, is attributed to the hardheart-
! edness of that non-existing thing called
1 the corporation. If bank listens to the
I
some leniency, the President of the bank,
/ or the cashier, or the manager, is the re-
| cipient of all the credit. 1t is easy for
/ any of these officers to say 81 will secure
this for you," and the credit becomes due
not to the corporation, which is regarded
as soulless, but to the individual officer,
who stood between the supposed corpo-
rate greed and the beneficiary of its be-
nevolence.
II the customer of a bank is accommo-
dated with an overdrawn account, or the
extension of the payment of note, or q
reduction of interest, it is impossible fol
him to conceive that the incorporeal en-
tity called the corporation manifested this
degree of leniency. In fact, he cannot
attribute to an impersonal, incorporeal
thing any other motive than that of ra.
pacity. The strangest fact entering into
these considerations is that when the Off
Ger of a corporation finds it necessary tC
exact something which is in the nature o
hardship on his customer or debtor, ht
usually fortifies himself with the state.
ment that it is Aot himself but the banl
or 1.-The Company which makes the
exaction. Thus the public come to ac
quire the one-sided notion that all liberal
ity manifested in the conduct of corporal,
affairs is the result of individual gener
osity, and all hardships inflicted by thu
exigencies of business is the result o
corporate greed.