The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-06-04
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eminent ends and plutocracy is enthron-
ed in power. The small percentages
which change results ard the weakness
of poverty, constitute an ever-present
temptation to debauch the American
electorate.
This is not a partisan question. 1t is
great national problem which should
engage the thought of every man who
loves his country. The perpetuity of
American institutions is involved; the
liberty of the American citizen is in
volved; the happiness of posterity. is in
volved; the republic itself is involved.
Everything which liberty loving people
cherish is at the mercy of this vicious
practice.
Shall this crime become respectable
because all parties are guilty of it!
Shall one party justify by charging that
the other is guilty? Does the practice
cease to be evil because it has become
universal? Shall all protest be laughed
to scorn? Has purity of purpose become
impractical in the most important OF all
American institutions? God forbid! Let
the universities and colleges, with alb
solute scorn for all criticism, address
themselves to the correction and eradi-
cation of this great evil by presenting
every year to the republic young men
utterly incapable of tolerating this crime
against the land they love. Let them
present to the country young men who
refuse to act as brokers' in the distribu-
ton of corruption funds, who refuse to
act as the agents of the rich in debauch
ing the poor, and it will not be long
before men will admit it was not a ne
cessary evil after ALL
l trust you will pardon another illus
tration of the danger of this shifting of
responsibility. 1t is to be found in what
we might call the evolution Of corporate
life. That / may not be misunderstood
/ wish to declare what every person here
knows to be true. and that is that the
intangible institution, known as the cor
poration, appears to be necessary In mod
ern progress. The creation Of this fic-
tjtious individual, the building up of this
person of power and strength by COM
bIning the insignificant contributions OF
lnen Of small means, is one of the most
wonderful achievements of modern
times. Out OF individual impotence comes
the power of co-operation; out of indi-
yidual poverty comes the wealth OF CO.
operation. These institutions have done
much for our State. There is broad
field for development here, and they
should be treated with absolute justice
and fairness. But it is a matter of COM
mon knowledge that in this republic men
procure charters, for great institutions,
to enable them to do that which the in
dividual would not dare attempt, and it
would seem that in their administration
a system of qualified ethics obtains. 1t
is supposed that the company" can do
lawfully and properly what the individ-
ual would not do If there is any sting
of conscience, it can be easily smothered
by the reflection that the company and
not the stakeholder, is responsible for
all that is done. Time forbids that We
should do more than touch upon this
phase of our subject. Numerous illus
trations of the idea 1 am seeking to un-
fold can be found on every hand.
Injustice done by the corporation,
without protest on the part of the stock
holder, is simply the act of the stock
holder Oppression of the corporation
is the oppression of the stakeholder. Let
us remember-let the universities and
colleges teach that in its final analysis
the corporation is the stakeholder, and
the stakeholder is the corporation. One
cannot be just and the other unjust; one
cannot be kind and the other cruel. The
idea that the responsibility of the indi-
vidual to his country, his neighbor and
his God, can be shifted to this soul-less
agency, is mere fiction which never had
any foundation in justice or reason. /
conceive this phase of our subject is cap
able of great elaboration. It's import
ance can hardly be overstated. l merely
suggest its consideration to this thought
full assembly.
/ trust this imperfect analysis has at
least defined the principle which / con-
eeive to be dangerous, which / believe
all will agree exists and is to be found
running through almost every department
of life. Many other illustrations might
be used and the principle might be elab-
Grated to an almost endless extent.
How alluring is this idea that the re-
sponsibility of the individual can be shift
cd away! How tempting this idea that
man may surround himself with ill-gOt-
ten gains without any penalty whatever!
And yet, under the operation of the prin-
oiple. great crimes against humanity are
permitted and popular government ceases
to exist.
The question which springs almost un-
hidden in the nina of every one of us, is
what gives this vicious principle life
From what source does it receive vital
ity? 1t is not the offspring of this greed
for great wealth which seems to be TAX
ing possession of almost everybody in
every part of our country? An idea
seems to obtain to very large extent
that success is to be measured by the
amount of wealth a man can accumulate.
There are many people who actually be-
lieve that everything in life is purchas-
able. This beautiful Southland which we
all so ardently love has suffered much
and has been greatly misunderstood
And in this day of money getting some
of our countrymen take occasion to ad-
monish us that our section is not abreast
with the times. With deep anxiety they
tell us we should abandon all our ante
bellum ideas. They point US to the great
wealth of other peoples and other sec.
lions, and advise us to emulate their
high example l admit that IL the amount
OF money we have made and boarded vi
since our government was founded is tC
be taken as the gauge of success, the
Southern States have failed in the battle
of supremacy. But. If character, which
is willing to sacrifice all for honor, u
fofa oh il