Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-01-04

tuOIOe, .es4AdA5OO ny QOAhS
with electricity; but the most ardent
denouncer of trusts would hesitate to
advocate so drastic a remedy. What
remains for us to do as practical men,
fs to look the conditions sQuarefy in
the face and not to permit the emo
tiond side of the question, which has
its proper place, to blind us TO the
fact that there are other sides. We
must set about finding out what the
real abuses are, with their causes, and
to what extent remedies can be APP
piled.
ITO say that the present system OF
hap-hazard license and lack of super
vision and regulation is the best pos
sible, is absurd. The men who endeav-'
or TO prevent the remedying the evl-
dences OF real abuses not only show
callous disregard for the suffering OF
others, but also weaken those who are
anxious to prevent the adoption OF IN
discriminate would-be remedies which
would subvert our whole industrial raD-
ric. The cnlcanery and the dlsnonest,
even though not technically illegal
methods through which some great Ior-
tunes nave been made are scandals 10
our civilization. The man VINO. by
Swinlling or wrong doing, acquires
great wealth for himself at the expense
OF his fellow. stands as low morally as
any predatory medieval nobleman ana
is a more dangerous member OF society.
Any law and any method of construlng
the law which will enable the commu-
nifty to punish him, either by taking
away his wealth or by imprisonment,
should be welcomed. OF course, suen
laws are even more needed IN deallhg
with great corporations or trusts imam
with individuals They are needed qulte
as much for the sake OF honest corpo-
rations as for the sake OF the pupllc.
The corporation that manages It's al
fairs honestly has a right 10 demand
protection against the dishonest corpo-
ration. The first essential is kneWl-
edge of the facts-publicity Much can
be done at once by amendment OF the
corporation laws so as to provide Tor
such publicity will not work injustice
as between business rivals.
1.-THE chief abuses alleged to arise
| from trusts are probably the follow
! ing:
misrepresentation or concealment
| regarding material facts connected with
| the organization of an enterprise; the
/ evils connected with unserupulou5 pro-
motions; other capitalization; unfair
| competition, resulting in the crushing
| ont of competitors who themselves dc
| not act improperly; raising of prices
/ above lalf competitive I irTes, IL -wfefSa-
| ing Of increased power over the wage
earners. Some of these evils could be
| partially renledied by modification OF
our corporation laws; here we can safe
! ly go along the lines of the more con-
sentative New England States and
| probably not a little further. .. Such
! laws will themselves provide the need
ed publicity, and the needed circum-
: stantiality of statement. We should
know authoritatively whether stock
represents actual value of plants, or
whether it represents brands or good
| will; or if not, what it does represent,
if anything. 1t is desirable to know
how much was actually bought, how
much was issued free, and to whom
and, if possible, for what reason. This
would enable US to see just what the
public have a right to expect in the
way of service and taxation.
Where a trust becomes a. monopoly
the State has an immediate right to in
terfere. Care should be taken not to
stifie enterprise or disclose any facts of
a business that are essentially private;
but the State for the protection of the
public should exercise the right to in
speet, to examine thoroughly all the
workings of great corporations just as
is now done with banks; and wherever
the interests of the public demand it it
should publish the results of its exam
ination. Then if there are inordinate
profits, competition or public sentiment
will give the public the benefit in low
cred prices; and if not, the power OF
taxation remains
Gov. Roosevelt also devotes some
space to a review of labor legislation
in New York and commends the work
of the board of mediation and arbitra-
ton in dealing with strikes during the
year past. He promises his approval OF
drug clerks bill, to remedy hardships
to which men in that occupation are
subjected.