The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1901-12-10

tied, but supervised and within rea-
sonabIe limits controlled and in my
| Judgment this conviction is right.
1t is no limitation upon property
rights or freedom of contract to re-
quire that when men receive from
government the privilege of doing
business under corporate form, which
frees them from individual respon-
sibility, and enables them to call into
their enterprises the capital of the
public, they shall do SO upon abso-
lutely truthful representations as to
the value of the property in which
the capital is to be invested. Cor
porations engaged in inter. State
commerce should be regulated if
they are found to exercise a license
working to the public injury. 1t
should b1 as much the aim of those
who seek for social be6terment to
rid the country of crimes of cunning
as to rid the entire body. p0litio Of
crimes of violence. Great corpora
tions exist only because they +
created and safeguarded by u in
situations and it is therefore our
right and duty to see that they work
in harmy with these institutions.
THE GOVERNMENT SHOULD INSPECT
THE WORKINGS OF BIG CORPORATIONS
The first essential in determining
how to deal with the great indus
trial combinations is knowledge of
the facts-publicity. In the interest
of the public, the government should
have the right to inspect and exam
inc the workings of the great cor-
porations engaged in inter State
business. Publicity is the only sure
remedy which we can now invoke
What further remedies are needed
in the way of governmental regula-
ton, or taxation, can only be de-
termined after publicity has been
obtained, by process of law, and in
the course of administration. The
first requisite is knowledge, full and
complete-knowledge which may be
made public TO the world.
Artificial bodies, such as corpora
tions and joint stock or other assO-
Citations depending upon any statu-
tory law for their existence or priv
leges, should be subject to proper
governmental supervision, and full
and accurate 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, often doing very little
business in the State where they II
Incorporated. There is utter lack
of uniformity in the State laws about
them and as no State has any ex-
elusive interest in or power owe
their acts, it has in practice proved
impossible to get adequate regula
ton through State action. There.
fore, in the interest of the whole
people, the nation should, without
interfering with the power of the
States in the matter itself, also as
sumo power of supervision and regu-
lation over all corporations doing an
Interstate business. This is espe-
cially true where the corporation
derives a portion of it's wealth from
the existence of some monopolistio
element or tendency in it's business.
There would be no hardship in such
supervision banks T subject to it,
and in their case it is now accepted
as a simple matter of course. In
deed, 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 &c
produce excellent results.
A SECRETARY OF COMMERCE NEEDED.
There should be created a cabinet
officer, to be known as Secretary of
Commerce and Industries, as pro
vided in the bill introduced at the
last session of the Congress. 1t
should be his province to deal with
commerce in it's broadcast sense in
Guiding among many other things
whatever labor and all
matters affecting the great business
corporations and our merchant
marine
The course proposed is one phase
of what should be a comprehensive
and far-reaohing scheme of Con-
s~truotiYe atatesmanship for the DIR