The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1901-12-05

ana in the long run, we shall go up OF
down together.
The mechanism Of modern business
Is 90 delicate that extreme care must
be taken not to interfere with 1t In
spirit of rashness or ignorance. In
dealing with business interests, for
the government to undertake by crude
and i'll considered legislation to do
what may turn out to be bad, would
be to incur the risk Of such farreach-
ing national disaster that IL would be
preferable to undertake nothing at all.
The men who demand the Impossible
or the undesirable serve as the allies
of the forces with which they are NOM
inally at war, for they hamper those
who would endeavor to find out in ra-
tional fashion what the wrongs really
are and to what extent and in what
manner II is practicable to apply reme-
dies.
How to Correct the Evils.
All this is true, and yet 1t Is also
| true that there are real and grave evils,
one of tie chief being OvercapItallza-
! ton because Of it's many baleful con-
{ StIUtilctS- anu IL ltoolulS anu pi'ANN-NN>~
! effort must be made to correct these
| evils.
| 1t is 10 Limitation upon property
/ rights or freedom Of contract to re-
| uuirc that when men receive from gov
/ ernmcnt the privilege of doing busl-
| ness under corporate form, which frees
them from individual responsibility
| to coll into their n
tprDriSes the capital Of the public, they
shall do so upon absolutely truthful
representations as to the value Of the
property in which the capital is to be
invested. Corporations engaged in IN
terstate commerce should be regulated
If they are found to exercise license
working to the public injury. 1t should
| be as much the aim of those who seek
| for social betterment to rid the busi-
ness world Of crimes of cunning as to
rid the entire body polite Of crimes or
violence. Great corporations exist only
because they are created and safe
| guarded by our institutions, and it IS
therefore our right and our duty to
see that they work in 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 can now
| invoke. What further remedies are
needed in the way Of governmental
regulation or taxation can only be de-
termincd after publicity has been OBJ
tanned by process of law and IN the
course of administration. The first
requisite is knowledge. full and com
plcte-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 FOL
their existence or privileges should Dt
subject to proper governmental super
vision, and full and accurate informa
ton as to their operations should b.
made public regularly at reasOnabl,
Intervals
The large corporations, commonl.
called trusts. though organized in ont
state. always do business in man,
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 Las any exclusive intere;
in or power over their acts, it has il
practice proved impossible to get ado
Quatc regulation through state action
Therefore, III the interest of the Who'll
people. the nation should. without in
terfcrin@ with the power of the state
in the matter itself. also assume poWe
of supervision and regulation over a
corporations doing an interstate bus
ness.
Il Amend Constitution II Necessary.
When the constitution was adopted
at the end of the eighteenth century
no human wisdom could foretell til
sweeping changes, alike in industriG
and political conditions, which were t
;. take place by the beginning Of th
twentieth century. At that time
was accepted as matter of cours
( that the several states were the prope
= authorities to regulate, so far as wa
then necessary, the comparatively il
= significant and strictly localized co
= poratc bodies of the day. The cond
= tons are now wholly different. an
wholly different action is called for.
| believe that law can be frame
which will enable the national govern
ment to exercise control along the line
above indicated, protiting by the exp
rience gained through the passage an
administration Of the interstate con
merce act. If, however. the iudgmeI
of the congress is that it lacks the col
= sttutional power to pass such an &c
= then constitutional amCndmel
y should be submitted to confer Il
power
There should be created Il cabinet o
!, ficer, to be known as secretary
commerce and industries. rs provide
n IN the bill introduced at the last Sc
sion of the congress. 1t should be h
province to deal with commerce in i
broadcast sense. including among maj
% other things whatever concerns lab
+, |
: business corporations and our me
. chant marine
-. Labor.
II The president declares that he /
"a CARDS it necessary to re-cnact the CT
- nese exclusion law. In regard to lab,
10 he says that the government shou
:. provide in its contracts that all VOL
- should be done under fair" condition
=. and that all night work should be 70
~ hidden fer women and children as We
as excessive overtime. He continues:
= Very great good has been and will |
Is accomplished by associations or uniol
"a of wagcworkcrs when managed wit
70 forethought and when they combine i
!. sistence upon their own rights wit
70 law abiding respect for the rights
70 others. The display of these Qualiti
Is In such bodies is duty to the matte
% no less than to the associations Their
- | selves Finally fhera ,DuS+ oIco