The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1901-12-03

ca UN iUr ItI.. N "'l.if ifll'uA' A'u
only ou condition d.. ..ufurr.ug inn
mcnec incidental u.r..'- upon o,h.
ors Sucr, -fui rgt r--. .l ihc tyre
which benefits gl ma.kmI can only
exist if tls conditions arn such a. ~
Offer roat prizes .- t.a rewards o.
suc.o..
Reasons For Caution.
The president adds that tnorc are
many ua..ls OH. caution boo dealing
with corporations lIo says.
The same hu 'ur-. conditions which
have produced tho great a--reeatious
OF corporate and individual wealth
have made thom very potent factors in
international commercial competition.
Moreover if cannot too often be
pointed ont chat Go strike with ignorant
violence 90 thc Interests of one set u
men almost inevitably oulInccrs the
Interests or ALL The fundamental rule
in our national llrc-tho rule which un-
dcrl.cs ail others is that. on The whole
and in the long run. vo shall 20 up or
down together.
The mechanism of modern business
is so delicate that extreme care must
be taken not 90 interfere with it iu
q spirit 90 ushuoss or Ignorance. In
dealing with business interests, Tor
the government Co undertake by crude
and ill considered legislation to- DO
what may turn ouy to be bad would
De 90 incur the risk OF such farreach-
Ing national disaster that If would be
prefer ble to undertake nothing 40 all.
The men who demand the impossible
or the undesirabI, serve as the allies
Of the forces with which they are nom-
inally at war. for they hamper those
who would cudcavor 20 Gnl out iu ra-
tioual fashion what the wrongs really
are and TO what extent and in what
manner lt IS practicable TO apply RENE
dies
How to Correct the Evils.
All this IS true. and yet it is also
true that there are real and grave evils.
one Of the chief being OyercIpiJaliza-
ton because % Us many halcful con-
sequences. and rcsolute and practical
effort must bc made 90 correct these
evils
II ls no limitation upon property
rights or freedom of contract % re-
qu.re that when men receive from gov
ernmuut tie privilege 0f doing bus.-
ness under corporate form. which frees
them from iuliFidual responsibility
and enables them Co caIl into their eu-
terprises fh- capital of the public, they
shall DO SO upon absolutely truthful
representations as 60 the value of the
property Coz which the capital is 20 De
invested. Corporations engaged in in-
terstaIc commerce should be regulated
II they are found 10 exercise llccns.
working 90 the public injury. II should
be as much the aim of those who seek
FOR social bettermcnt 90 rid the busl-
ness world II crimes Of cunning as TO
rid the entire body polite Of crimes u
violence. Great corporations exist only
because they are created and safe
guarded by our Institutions. and il is
therefore our right and our duty 10
see that they work IN harmony with
these institutions.
Publicity the First Essential.
Tie first essential in determining
how 20 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 20 inspect and examine the work
ings of the great corporations cngu gcd
in Interstate business. Publicity is the
only sure remedy which we can now
Invoke. What further remedies are
needed In the way Of governmental
regulation or taxation can only be de-
termlned after publicity has been OBJ
talned by process OF law and In the
course OF administration The first
requisite Is knowledge. full ana 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 10 proper governmental super
vision. and full and accurate informa-
tion as TO their operations should be
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 incorpo-
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 ade-
quate regulation through state action.
Therefore. Ia the interest OF the whole
people, the nation should. without In
terferng with the power Of the states
In the matter Itself, also assume power
OF supervision and regulation over all
corporations doing an Interstate busi'
ness
Amend Constitution ~ Necessary.
When the constitution was adopted,
at the end OF the eighteenth century.
no human wisdom could foretell the
sweeping changes alike In Industrial
and political conditions. which were 10