The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1901-12-07
PUBLICITY NEEDED.


ing with Trusts.
The first essential in determining how to
deal Wit the great industrial combine
tions Is knowledge Of the fac~ts-publicfty.
In, the interest of the, public h govern
ment should have the right tosinspect and
examine the workings of the great cor
porations engaged. in interstate business.
publicity is the only sure remedy which
we can now invoke. What further rene
dies are needed in h way of govern
mental regulation or taxation can only be
determined after publicity has been OBJ
tanned by process of law the course
OF administration
The first requisite is knowledge, .
q full and cbmplete-knowledge which o
. may be made public to the world. .
rti1cialebodies 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 regu-
larly 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 incorporated. There
is utter lack of uniformity in the state
laws about them, and as no state has any
exclusive interest in or power over their
acts 1t has in practice proved impossible
to get adequate legislation through state
action.
. whole people, the nation should, q
. without interfering with the power .
Q Of the states in the matter itself, .
q also assume power of supervision .
Q and regulation over all corporations
. doing an interstate business. q
poration derives a portion of it's wealth
from the existence of some m%onopolistic
element or tendency in it's business. There
would be no hardship in such supervision.
Banks are subject to it, and In their
case it is now accepted as a simple mat
ter Of course. Indeed it is probable that
supervision OF corporations by the ma
tional government need not go SO far as
is now the case with the supervision ex-
ercised over them by so conservative a
state as Massachusetts in order to pro-
duce excellent results.
When the Constitution was adopted, at
the end of the eighteenth century, no hui
man wisdom could. ~foretel1 the sweeping
changes, alike In. industrial and political
conditions. which were to take place by
I1S j. 4gk
At that time 1t was accepted as a matter
of course that the several states were the
proper authorities to regulate so far as
was then necessary thescopparatively in
significant and strictly localized corporate
bodies of the day. The conditions are
now wholly different, and wholly differ
ient action is called for. I believe that
g. law can be framed which will enable
the national government to exercise con-
troll along the lines. above indicated, prof
iting by the experience gained through
the passage and administration of the
interstate commerce act.
II. however, the judgment OF the .
. congress is that It lacks the 3consti- .
. tutionals power to pass such an act, .
. then a. constitutional amendment .
. should be submitted to confer the .
- power. M
There should be created a cabinet off
Ger to be known q 3 secretary Of COM
merce and Industries, as provided in the
bill introduced at the last session Of the
congress. It should be his province to
deal with commerce in Its broadcast sense,
including, among many other things
whatever concernssla labor, n all matters
affectingsth great business corporations
and our merchant marine.
The course proposed IL one phase Of
what should be q comprehensive and far.
reaching scheme 81 constructive states
synanship for the Purpose of broadening
our markets.. securing our business inter-
ests on q safe. basis and making firm our
new position In the International indus
trial world. while scrnpulously safeguard
ing the rights of -wagewOrker and capi-j
talist,H5of investor andSprfyate citizen, so
as to secure equity as between, man and
man In this republic. A1
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