The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-12-06
gent appreciation of the necessity of
meeting the changing trade with new

meeting Iuc CudA6AA6 IAouS VIII
methods.
1t is no limitation upon property
rights or freedom of contract to re-
uuire that when men receive from the
the privilege of doing business under
corporate form, which frees them from
individual responsibility and enables
them to call into their enterprise the
capital of the public, they shall do SO
upon absolutely truthful representa-
tons as to the value of the property
in which the capital is to be invested.
Corporations engaged in interstate
commerce should be regulated If they
are found to be working to the public
injury. 1t should be as much the aim
of those who seek the social better
ment to rid the business world of
crimes of cunning as to rid the entire
body polite Of crimes Of violence.
Great corporations exist only because
they are created and s~afeguarded by
our institutions and it is therefore
our right and our duty to e that
they work in harmony with these in
structions.
The first essential in determining
how to deal with the great industrial
combinations is knowledge of 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 can now
invoke. What further remedies are
needed in the way of governmental
regulation or taxation al only be
determined after publicity has been
obtained by process of law. and in
- - 49, 20 - 1o~sc1n+,Nn @ Tho f1vSCf
requisite is knowledge, full and COM
plete-knowledge which may be made
public to the world.
Artificial bodies, such as corpora
lions and Joint stock or other associa-
tons depending upon any statutory
law for their existence or privileges,
should be subject to proper govern
mental supervision and full and accu-
rate information 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, offending very little business
in the state where they are incor-
pOrated. There is utter lack of uni
formity in the state laws about them;
and as no state has any exclusive in
terest in, or power owe their acts,
it has in practice proved impossible
to get adequate regulation through
state action. Therefore, in the inter.
est of the whole people, the nation
should, without interfering with the
power of the states in the matter it.
self, also assume power of supervision
and regulation YER all corporations
doing an interstate business. This
is especially true where the corpora.
ton derives a portion of it's wealth
from the existence of some monopolis
tic element or tendency in it's bust
ness. There would be no hardship
in such supervision; banks are sub
ject to it and in their case it is now
accepted as a simple matter of course
Indeed, it is probable that supervision
of corporations by the national gov
eminent need not go so far as is now
the case with the supervision exer
cised over them by so conservative
a state as Massachusetts,. in order tt
produce excellent results.
Labor.
When the constitution was adopted
at the end Of the eighteenth centur,
no human wisdom could foretell thu
9 sweeping changes, alike in industrial
anu pOllLlCdl COuulClOLO, WAlCl wei
to take place by the beginning of tn,
twentieth century. At that time i
was accepted as a matter of cours'
that the several states were the prope
authorities to regulate so far as wa
then necessary the comparatively in
significant and strictly localized COZ
porate bodies of the day. The condi
tions are now wholly different AM
wholly different action is called fol-
l believe that a law can be frame'
which will enable the national govern
ment to exercise control along tn
lines above indicated, prOfiting by tn
experience gained through the passag
and administration of the interstat
commerce act. If, however, the juds
ment of the congress is that it lack
the constitutional power to pass sue
an act, then a constitutional amend
ment should be submitted to confe
the power.
There should be created a cabine
office to De known as commissioner c
industry and commerce. 1t should :
his province to deal with commerce
in it's broadcast sense; including anon
many other things whatever concern
labor and all matters affecting tn
business corporations and our me
chant marine.
The course proposed is one phas
of what should be a comprehensive
and ~far-reaching scheme of constru
tive craftsmanship for the purpose {
broadening our markets, securing OF
business interests on a safe basis an
making firm our new position in tn
industrial world. while s%crupulousl
safeguarding the rights of wage worl
er and capitalist, of investors an
private citizens, so as to secure equit
as between man and man in this r
public.
With the sole exception of the farr
ing interest, no m matter is of sue
vital-moment to our whole people {
the welfare of the wage worker.
the farmer and the wage worker a.
well off it is absolutely certain th'
all others will be well off too. 1t
E. 4 y L=zA 80 T. 4 ~ rno