The daily journal. (Salem, Or.) 1899-1903, 1901-12-03

I Nation. Moreover. 1t cannot too often
be pointed out that to strike with ig-
| norant violence at the interests of one
set of men almost inevitably endangers
the interests OF all. The fundamental
rule i'm our national life-the rule which
underlies all others--is that on the
whole and in the long run we shall go
up or down together. There are eXcep-
tons; and i'm times of prosperity some
Will prosper far more, and in times OF
adversely some will suffer far more
than others; but speaking generally a
period OF good times means that all,
share more or less in them, and In a
period of hard times all feel the stress
to a greater or less degree. II surely
ought not to be necessary to enter into
any proof of this statement; the MEM
ory of the lean years which began In
1898 is still vivid, and we cannot con-
trast them with the conditions In this
very year which is now closing. Dis
aster to great business enterprises can
never have it's effects limited to the
men at the top. II spreads throughout,
and while 1t is bad for everybody II is
worse for those farthest down. The
capitalist may be shorn of his luxury
but the wage worker may be deprived
of even bare necessities.
The Trust Problem.
The mechanism OF modern business
is so delicate that extreme care must
be taken not to interfere with II in a
spirit OF rashness or Ignorance. Many
of these who have made II their voca-
tion to denounce the great industrial
combinations which are popularity al
though with technical inaccuracy,
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 indus
trial conditions the whole history OF
the world shows that legislation will
be both unwise and ineffect-
i've unless undertaken after calm In
luiry and with sober self-restraint. |
Much of the legislation directed at the |
trusts would have been exceedingly |
had IL not also been en-
.irely Ineffective. In accordance with |
4 well known sociological law the lg |
1orant or reckless agitator has been |
he really effective friend of the evils |
which he has been nominally opposing. |
IN dealing with business interests. for /
he Government TO undertake by rude /
md ill-considered legislation to do
What may turn out to be bad would be
o incur the risk OF such far reaching |
national disaster that Il would be pre-
erable TO undertake nothing at all.
rhe men who demand the impossible
,r the undesirable serve as the allies
# the forces with which they are nom
nally at war; for they hamper those
Who would endeavor to find out In ra-
ional fashion what the wrongs are.
md to what extent and I'm what man
Ter II Is practicable to supply reme-
lies. All this is true; and yet Il is also
rue that there are real and grave evils,
me Of the chief being over-capitaliza-
ion because OF It's many baleful con-
equences; and resolute and practical
fort must be made to correct these
wills
There is a widespread conviction in
he minds Of the American people that
he great corporations known as trusts
ire In certain OF their features and
tendencies hurtful to the general well
'are. This springs from no spirit OF
envy or uncharitableness nor lack OF
pride in the great Industrial achieve
nents that have placed this country at
he head Of the Nations struggling for
commercial supremacy. II does not
est upon a lack Of intelligent appreci-
tlon OF the necessity of meeting
hanging and changed conditions OF
rade with new methods, nor upon ig-
OrancG Of the fact that combination
f capital I'm the effort to accomplish
reat things, Is necessary when the
worlds progress demands that great
hings be done II Is based upon sin
ere conviction that combination and
should be, not prohibited,
'ut supervised and within reasonable
limits controlled; and In my judgment
his conviction Is right.
II is no limitation upon property
lights or freedom OF contract 20 require
hat when men receive from govern
nent the privilege OF doing business
nder corporate form. which frees them
rom individual responsibility and en-
bles them to call into their enterprises
he capital OF the public. they shall do
O upon absolutely truthful representa-
Ions as 10 the value OF the property in
Which the capital Is to be invested.
engaged IN interstate
ONAAnNAAN NhhhAA ~ AhF NA'NA'H - 49, /
re found 10 exercise license working
o the public Injury. 1t should be as
much the aim of those who seek for
oclaI betterment to rid the business
,orld of crimes OF cunning. as TO rid
he entire body polite Of crimes OF
lolence. Great corporations exist only
ecause they are created and safe
uarded by our institutions. and Il Is
a la |
hat they work in harmony with these
The first essential In determining
ow to deal with the great Industrial
Is knowledge of the facts
publicity In the interest OF the public
he Government should have the right
D inspect and examine the workings OF
he great corporations engaged In IN
srstate business, Publicity Is the only
ure remedy which we can now invoke
What further remedies are needed IN
he way OF governmental regulation or
iNatlon, can only be determined atter
ublicity has been obtained by process
I law. and in the course Of admins
ration. The first requisite Is knowl-
dge, full and cOmplete-knowledge
'hich may be made public TO the
'Orld.
Artificial bodies. such as corpora
ons and joint stock or other assocla-
Ons depending upon any statutory (
w for their existence on privileges
hOuld be subject 10 proper govern {
rental supervision, and full ana aceu-
ate information as 10 their operations
nould be made public regularly al (
intervals.
The large corporations, commonly
allied trusts. though organized IN one
An