The daily morning journal and courier., 1899-12-28
REGULATION OF THE TRUSTS.
An International Incorporation Law
 Proposed

An International Incorporation Law Proposed
 It Is admitted on all hands that the trusts and all monopolies have duties
 to the public Their managers are as
 much bound to observe these duties as
 they are to protect the interests of
 their own stockholders. Then why
 should not the public have direct
 voice in the management? It would
 not be a difficult matter to cite cases
 where the voice of the government di-
 rectors in a trusts management might
 be to the direct advantage of the stock
 holders of the trust as well as a bene-
 fit to the public It Is of interest to
 note that recently ffnanciers prominent
 In the administration of some of the
 largest trusts have given public appro-
 val to this plan, and expressed their
 willingness to accept national control in
 such a form.
 The question may be raised whether
 such regulation would be a constitu-
 tional procedure; but the proper an- swer to this is, that in the present
 temper of the public, little difficulty should be found in making it so. The supreme court in it's recent decision in
 the pipe trust case has drawn a hair splitting decision to the effect that con- gress therefore, has no power to en- terfere with the combinations by which the sugar trust was created, while it had power, through the antitrust law to prohibit the combination made by the manufacturers of cast-ron pipe All such obstacles to government regu- l>o l |. Ilx of a constitutional amendment giving congress the sole power to charter and to regulate all corporations doing busi- ness outside the limits of Q single state. A national incorporation law is as much needed as was the national law. Already in the pres ent session of congress an amendment has been presented having this end in view. Both political parties are fully to action of some sort for the protection of the people from mono poles 1t needs only wise and intelli- gent leadership to see some real pro- gress made toward the solution of the | question at the present session of con- gress.
 We are well aware that the familiar | answer to every proposal made for greater control by governments, munic- | pal. state or national, over the monopo- | ies within their borders is that govern nent officials are too corrupt. untrust- worthy and incompetent to undertake uch responsibilities. We cannot have ownership, it is said. because he city officials cannot be trusted to and efficiently manage water works or street railways or lighting plants Municipal control is objected to because dishonest officials make use of uch control for purposes of blackmail. Government railway regulation is op- osed at every step, on the plea that it vill be used to benefit the pockets of flee holders. The proposition to con- rol monopolistic corporations through he agency of government directors will @ met with the objection that such di- ectors would be bought up and made Q serve the interests of the corporation lstead of the public.
 These are objections that deserve to e fairly met; but the proper way to leet them is to look the situation quarely in the face. Let us fully req