The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-12-03

a the trusts would have been exceeding
y nisehievous had II not also beer en-
tireIy Ineffective
Legislation Must BE wise.
"Inaeeordanee with we'll known socio-
logical law, the ignorant OF reckless agi-
tator has been the really effective friend Of
the evils which he has been nomfnai1y OF
posing In dealing with business interests,
for the Government to undertake by crude
and iII-eonsidered legislation to do what
may turn out to be bad. would be to in
cur the risk OF such far-reaching national
disaster that II would De preferable 10
undertake nothing At all
The Evils of Trusts
1T is true that there are real and grave
evils. one OF the chief being ovsrcapitaIi-
Zation, because OF its many bsIefuI conss-
quences; and a resolute and practical ef-
fort must be made to correct these evils.
There IS widespread conviction in the
minds OF the American people that the
great corporations known as trusts are
in certain Of their features and tendencies
hurtful to the general welfare This is
based upon sincere conviction that con-
bination and concentration should be, not
prohibited. but supervised and within rea-
sonabIe limits controlled, and IN my
judgment this conviction IS right.
The Need OF Honesty.
at is nc limitation upon property rights
| or freedom of contract to require that
when men receive from Government tbe
privilege Of doing business under cor
| viduaI responsibility, and enables them to
call into their enterprises the capital Of
! the public. they shall do so upon absolute
! " truthful representations as 10 the value
| Of the property in which the capital is TO
/ be invested.
| Corporations engaged in interstate COM
meree should be regulated If they are
found to exercise license working to the
public injury. It should be as much the
aim Of those who seek for social better
ment to rid the business world of crimes
/ of cunning as to rid the entire body poll
tic of crimes Of violence
Great corporations exist only because
they are created and safeguarded IL our
institutions; and it is therefore our right
and our duty to see that they work in
Hal liAOl4N Win these 1lSLIUEleES-
The Power of Pu5Iicify.
The first essential in determining how
to deal with the great industrial combi-
nations is knowledge OF the facts-pub-
Hcity- In the interest Of the public. the
Government should have the right TO in
spect and examine the workings of the
great corporations engaged in interstate
business.
artificial bodies. such as corporations
and joint stock or other associations. de-
pending upon any statutory law for their
existence OF privileges, should be subject
to proper governmental supervision, and
full and accurate information as TO their
operations should be made public regular
ly at reasonable intervals.
National Supervision
'.The large corporations. commonly
called trusts, though organized in ono
State, always do business in many States
often doing very little business In the
State where they are Incorporated. There
is utter lack of uniformity II the State
laws about them; and as no State has any
exclusive interest in or power over theil
: acts. 1t has IN practice proved impossible
I to get adequate regulation through State
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