Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-01-03
NEW YORK LEGISLATURE MEETS.
Gov. Roosevelrs Message un Trusts and
Other Things.

Albany n, T., Jan. 3.-The State leg
islature convened in annual session to-
day. In the senate Timothy L. Ellis
worth Niagara county was re-elect-
ed president pro tenn and In the house
Frederick Nixon OF Chautaqua county
was reelected Speaker
The annual message Of Gov Theo-
dore Roosevelt was read. The governor
treats at Considerable length the sub.
jects Of modern Industrial combinations
and trusts.
The contrast offered In the highly
specialized industrial community be-
tween the very rich and the very poor"
says the governor. rs exceedingly dis
tressing and while under normal con-
ditlons the requirement of wealth by
an individual Is necessarily Of great
incidental benefit TO the community as
a whole yet this Is by no means always
the case. In our great cities there Is
plainly IN evidence much wealth con-
trasted with much poverty and some OF
the wealth has been acquired or is used
in manner for which there is no moral
justification. The chlcanery
and the dishonest even though not tech
nically Illegal methods through which
some great fortunes have been made
are seandalous 10 our civilization. The
man who by swindling or wrOngdolng
acquires great wealth, stands as low
morally as malevolent and
Is more dangerous member OF society.
ANY law, and any method OF con-
strung the law which will enable the
community to punish him, either by
taking away his wealth, or by i'm.
prisonment, should be welcomed OF
course such laws are even more needed
in dealing with great corporations or
trusts than with individuals.
They are needed quite as much for
the sake OF honest corporations as for
the sake Of the public. The corporation
that manages its affairs honestly has
a right to demand protection against
the dishonest corporation.
The chief abuses alleged TO arise
from trusts are probably the follow
ing: Misrepresentation or conceal
ment regarding material facts CON
nected with the organization OF an en-
terprise; the evils connected with un-
scrupuous promotions; over capitaliza-
ton; unfair competition. resulting IN
the crushing out Of competitors who
themselves do not act Improperly. rails
ing OF prices above fair competitive
rates; the welding Of Increased power
over the wage earners. Some Of these
evils could be partially remedied by
modincauon OF our corporation laws.
mere we can safely go along the lines
OF the more conservative New Eng
land states and probably not a little
further. such laws will themselves
provide the needed publicity. and the
needed clrcumstantlality of statement.
we should know authoritatiyely
whether stock represents actual value
or plants or whether Il represents
brands or good WILL or II not, what n
does represent II anything. IL As de-.
slrable TO Know how much was actually
bought, how much was Issued free and
TO whom, and II possible. for what rea-
son. This would enable US 10 see inst
what the public have a right TO ex.
pect IN the way OF service and taxa
ton.
Where a trust becomes a MONOPOLY
the state has an immediate right 10
Interfere. Care should be taken not
10 stihe enterprise or disclose any facts
OF a business that are essentially pri-
vate, but the state. for the protection
OF the public, should exercise the right
TO inspect, TO examine thoroughly an
the workings OF great corporations ius,
as is now done with banks and wher.
ever the Interests Of the public demand
II, 1t should publish the results OF its
examination. Then II there are In.
ordinate profits, competition or public
sentiment, will give the public the bene.
NJ IN lowered prices, and il not, the
power Of taxation remains"
Gov Roosevelt also devotes soma
space 10 review Of labor legislation
In New York, and oommends the work
OF the board OF mediation and arbitra'
ton In dealing with strikes during The
past year, He promises his approval OF
urus clerks OH TO remedy hardshlps
70 which men in that occupation are
subjected. a'e