The age-herald., 1901-12-15

v such as the steel and railroad
 K A trusts predispose the public
 O mind to the reception of an an nouncement that this or that industry, or this or that system of railroads, has been merged in a gigantic company. Or dinary shareholders, to say nothing of customers or patrons or employees, feel themselves impotent to act or to speak. They are not even pawns on the great board when the Titans of finance play the game of millions. With feeling akin to nervousness they watch, knowing not what a day or an hour may bring forth.
 State Legislatures. presumably working m the interest of the people, with much parade of zeal in conserving the interests of the citizens of the State, enact laws that as a rule are found to be actually in the interest of corporations. Political parties insert blanks in their platforms as springs to catch voters. and President Roosevelt in hts message says
 There is a widespread conviction in the minds of the American people that the great corporations known as trusts are in certain of their features and ten dencies hurtful to the general welfake It is based upon sincere conviction that combination and concentration should be, not prohibited, but supervised and within reasonable limits controlled; and in my judgment this conviction is right"
 President Roosevelt having expressed his belief in the widespread conviction that trusts possess certain features and tendencies hurtful to the general welfare" lightly touches upon a few truisms to capital, and then states as since corpora tions, free from individual responsibility seek capital of the public they shall do so upon absolutely truthful representa- tions as to the value of the property in which the capital is to be invested. Cor porations engaged in interstate commerce should be regulated if they are found to exercise license working to the public injury"
 The truthful statements of corpora tions to the public will never be made so long as bookkeepers of talent can be employed. Statements of this kind are supposed to be made by insurance com nanies in all the states. Reports as made and published are doubtless truth frl but they are so lacking in detail as to be of little value. It is not to be sup posed that companies possessing stock jobbing attractions would be more ex- plicit. William H. Vanderbilt hit the cor poration idea of the public squarely when he exclaimed: "The public be d-d."
 President Roosevelt talks like man of sense when he says:
 ''The first essential in determining how to deal with the great industrial combi- nations is knowledge of the facts-pub- licity. In the interest of the public the government should have the right to inspect and examine the workings of the great corporations engaged in interstate business. Publicity is the only sure rem edy which we can invoke. What further remedies are needed in the way of govern mental regulation, or taxation, can only be determined after publicity has been ob- tained, by process of law, and in the course of administration. The first requi- site is knowledge, full and complete knowledge which may be made public to the world.''
 The Presidents remarks, in substance, di v. HSt dSCtTtdln WHdL LTuSIS are, how constituted, what are they doing how they do 1t, etc., and then having the facts go ahead, if the Constitution gives you (Congress) the power to act. If these facts are to be ascertained by Congress the babe yet unborn will become withered and bent with great old age before 1t can formulate a rule of conduct; and its great grandchildren will become hoary with years before the litigation fore shadowed will be finally adjudicated.
 The question of trusts will have to be determined by the public mind recogniz- ing trusts as a condition and by establish ing their relation to the public. Of course. the stock-jobbing feature of trusts Is important but 1t is trivial when com pared with the tendencies" Laws reg ulating the formation of corporations