The Paducah sun. [volume] (Paducah, Ky.) 1898-1906, 1901-12-03

legitimate business can be accumulat-
ed by the person specially benefited
only on condition OF comforting i'm
mense incidental benefits upon 9TH
ers. Successful enterprise uf the type
which benefits all mankind can only
exist II the conditions are such as to
offer great prizes as the rewards Of
success.
neasons For Caution.
The president adds that there are
many reasons for caution In dealing
with corporations. lie says:
The same business conditions which
have produced the great aggrecntions
OF corporate and individual wealth
have made them very potent factors In
international commercial competition.
Moreover. Il cannot too often lc
pointed out that 10 strike wiih ignorant
violence At the Interests OF one set 81
men almost inevitably enlanrcrs the
interests OF all. The Fundamental rule
In our national llfc-the rule which nm
derlics al others-ls that. on tie Whole
and In the long run. we shall 80 up or
down together.
The mechanism Of modern business
IS so delicate that eXtreme care must
be taken not TO Interfere wish 90 IN
a spirit OF rashnoss or ignorance. In
dealing with business Interests. Tor
the government TO undertake by crude
and IN considered legislation 20 do
what may turn out 10 De- bad. would
be to incur the risk OF such farrruch-
Ing national disaster that % woald he
preferable 20 undertake. nothing 30 ALL
The men who demand TIE impossible
or the undesirable serve as the allies
Of the forces with which they are nom
1nally at war. for they hamper those
who would endeavor to ind out in ra-
tionnl fashion what the WRONGS really
are and TO what extent and In what
manner 1t is practicable to apply RENE
dies.
How TO Correct the Evils.
An this is true. and Yet Il Is also
true that there are real and grave evils
one Of the chief being overcaptallza-
ton because Of It's many haleful con-
sequences. and a rcsolute and practical
effort must be made TO correct these
evils.
II Is no Limitation upon property
rights or freedom OF contract 20 ~
quire that when men receive from gov
eminent the privilege OF doing bust
ness under corporate form. which frees
them from individual responsibility
and enables them to call into their en-
terprises the capital of the public. they
shall do SO upon absolutely truthful
representations as 10 the value Of the
property In which the capital is TO be
invested. Corporations engaged In In
terstate commerce should be regulated
II they are found TO exercise license
working 10 the public injury. II should
be as much the aim Il those who seek
for social bettermeut 10 rid the busl-
ness world OF crimes Of cunning rs 20
rid the entire body poltic Of crimes Of
violence Great corpora ions c,.ist only
because they are created and safe
guarded by our Institutions. and II is
therefore our right and our DUTY to
see that they work Ia harmony With
these Institutions.
Publicity the First Essential.
The first essential In determining
how to deal with the great Industrial
combinations Is knowledge of the facts
publicity. In the interest OF the pub
lie the government should have the
right to inspect and examine the work
ings Of the great corporations engaged
IN Interstate business. Publicity is the
only sure remedy which We tan now
invoke. What further remedies are
needed In the way OF governmental
regulation or taxation can only be de
terminod after publicity has been oh
tanned by process OF law aud In the
course Of administration. The first
requisite is knowledge. full aud com
plete-knowledge which may be made
public TO the world.
Artificial bodies, such as corporations
and Joint stock or other associations.
depending upon any statutory law for
their existence or privileges should be
subject TO proper governmental super
vision. and full and accurate informa-
Lon as 10 lutiI olfihAihus rhNuih bt
made public regularly AT reasonable
intervals.
The large corporations. commonly
called trusts. though organized In one
state. always do business In many
states. often doing very little business
In the state where they are lncorpo-
rated. There is utter lack Of uniform
ity In the state laws about them. and.
as no state has any exclusive interest
In or power over their acts. Il has In
practice proved impossible TO get AIDE
quate regulation through state action.
Therefore. IN the interest Of the whole
peonie. the nation should. without in-
terfering with the power Of the states
In the matter itself. also assume power
Of supervision aud regulation over all
corporations doing an Interstate busl-
ness.
Amend Constitution ~ Necessary.
When the constitution was adopted.
ct the end Of the eighteenth century.
no human wisdom could forcicll the
sweeping changes. alike Ia Industrial