The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-03-27
Two Vital Reforms.

In an address before the students of
the University of Michigan, delivered
on last Tuesday evening, exPresident
Harrison sounded what many persons
believe to be the key note of the polit
ical contests of the near future. His
subject was Some Hindrances to Law
Reforms" and the two reforms which
he selected as representing those now
most widely hindered were a thorough
revision of the laws governing corpor-
ations, and the equalization of assess
ment and taxation. "F'ivesixths of the
voters of the country" he affirmed,
favor a revision of coronation laws,
limiting the purposes for which cor
porations may be organized, supervs-
ing the issuing of stocks and bonds.
and putting other restraints upon them
An even larger proportion of our peo-
pie would give their emphatic support
to the proposition that tax burdens
should fall equally upon all property.
But they do not now, as everyone
knows. Lands houses, live stock and
implements of trade cannot be hidden.
Stocks and bonds can be and the as
SCISSOR has no way of checking the list"
In attempting a solution of the cor
poration problem, the speaker said we
must remember first, that the people
have not only authorized but invited
the organization of and the investment
in corporations; second, that the bank
ruptcy of any legitimate industry is a
public injury; third, that we must take
things as our unwisdom or that of our
forefatherj has made them-as to the
past we can do little more than mend;
fourth, that the work of reforming our
corporation laws is not for apprentices:
fifth, that corporation law should be
general-it is neither wise nor safe to
assume that a particular case is a rep
resentative one, and to administer the
remedy promiscuously; sixth, that in
public affairs the best attainable good
Is the thing to be sought; seventh, that
the legislation must be just"
He deplored the inadequacy of our
state legislatures to deal with a syste-
matte and congruous revision OF the
laws, and added, somewhat suggestive
ly when we remember that he is law
yer whose clients are often large cor
porations: According to the last an
nual report of Comptroller Roberts, in
the state of New York the equalized
taxable value of real estate in 1895 was
nearly four billions, that of personal
property less than half a billion, and
yet 1t is well known that the personal
property in the state is equal to if not
greater than the amount of real es-
tate. A way must be devised to place
corporations under proper restraint
and to bring to the tax roll the vast
aggregate of untaxed personal prop
erty."
In General Harrison's opinion the
great reform laws which will correct
these glaring inequalities which now
intfame the unthinking to socialism or
despair must be framed, not through
the "impulsiVe, hodge -podge of 6O-day
legislatures" but by commissions conf
| posed of the ablest men in the states.
They must" he says, have time to
| thoroughly study the subject Oppor-
tunity must be given to the interests
| to be affected, and to the public, to pre-
sent suggestions and objections. There
| should be no attempt to bring in the
| millennium on the morrow. 1t would
| be too sudden The ideal cannot be
reached at "a step, but we should face
and move that way" And thus we
see that the impulses back of the BRYAN
campaign, while insufficient to win the
| immediate victory, which would in re-
alization doubtless have been a defeat,
yet suffice to set the ablest men to
| thinking.