The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-12-03
as TO TRUSTS.
Take Care Not to Disturb Mechanism
of Modern Business.

OF N Ooern Business
The mechanism of modern business is
so delicate that extreme care must be
taken not to interfere with it in spirit
of raShneSS or ignorance. Many OF those
who have made it their vocation to de-
nounce the great industrial cOmbina-
lions which are popularity, although
with technical inaccurarcy, known as
trusts" appeal especially to hatred
and fear These are precisely the two
emotions, particularly when combined
with ignorance, which unfit men for the
exercise of cool and steady judgment.
In facing new industrial conditions, the
whole history of the world shows that
legislation will generally be both unwise
and Ineffective unless undertaken after
calm inquiry and with sober self
restraint Much of the Legislation di
rected at the trusts would have been
exceedingly mischievous had it not also
been entirely ineffective. In accordance
with well known sociological law, the
ignorant or reckless agitator has been
the really effective friend of the evils
which he has been nominally opposing.
In dealing with business interests, for
the government to undertake by crude
and il-cOnsidered legislation to do
what may turn out to be bad, would
be to incur the risk OF such far-reaching
national disaster that it would be pref
cradle 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 nominally at
war, for they hamper those who would
endeavor to find out in rational fashion
what the wrongs really are and to what
extent and in what manner it is prac-
ticable to apply remedies
All this is true; and yet it is also true
that there are real and grave evils, one
OF the chief being capitalization
because of its many balefuI conse-
QuenceS; and reSolute and practical
effort must be made to correct these
evils.
AS TO TRUSTS.
There is a widespread conviction in
the minds of the American pa0DIR that
the great corporations known as trusts
are in certain OF their features and
tendencies hurtfu1 to the general well
fare. This springs from no spirit
of envy or uncharitableness, nor lack
of pride IN the great industrial achieve
ments that nave placed this coun-
try at the head of the nations strug
Cling for commercial supremacy. 1t
does not rest upon lack of intelligent
appreciation of the necessity of meeting
changing and changed conditions of
trade with new methods, nor upon ig-
norance of the fact that combination of
capital in the effort to accomplish
great things is necessary when the
worlds progress demands that great
things be done 1t is based upon sincere
conviction that combination and con-
centration should be. not prohibited, but
supervised and within reasonable limits
controlled; and in my Judgment this
conviction is right
REGULATION. OF CORPORATIONS.
1t Is no limitation upon property
rights or freedom of contract to re-
quire that when men receive from gov
eminent the privilege of doing business
under corporate form, which frees them
from individual responsibility, and en-
ables them to call into their enterprises
the capital of the public, they shall do
so upon absolutely truthful representa-
lions as to the value of the property in
which the capital is to be invested.
Corporations engaged in interstate com
merce should be regulated if they are
found to exercise a license working to
the public injury 1t should be as much
the aim of those who seek for social
betterment 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 Safe-guarded by our
Institutions; and it is therefore our
right and our duty to see that they
work in harmony with these institu-
tions.
The first essential in determining how
TO deal with the great industrial COM
binationS is knowledge of the facts
publicity. In the interest of the public
the government should have the right |
to inspect and examine the WORKINGS of |
the great corporations engaged in inter-
state business Publicity is the only
sure remedy which we can now invoke
What further remedies are needed in |
<he way of governmental regulation or |
NaxatiOn, can only be determined after
publicity has been obtained, by process
81 law, and in the course of administra-
ton. The hrSt requisite is knowledge
full and complete-knowledge which |
-<aay 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 to proper governmental super
vision, and full and accurate informa-
ton a. to their operations should be |