The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1902-12-12

tatiNeE. We stu continue IN "a peflou o.
unbounded prosperity. This prosperity
is not the creature OF law. but undoubt-
odly tho laws under which We work have
bsen instrumental In creating the condl-
lions which made Il possible, and by un-
wise legislation u would be easy enough
20 destroy a. There will undoubtedly
be periods OF depression, The wave VIII
rscede: but the tide will advance. TINS
nation IS seated on a continent hanked
by two great oceans IL Is composed
OF men the descendants OF pioneers. or
in n sense pioneers themselves. or men
winnowcd out from among tho nations
OF tho old world by the energy, boldncss,
ard love OF adventure found In their Own
eager hearts Such nation, 30 placed
Will surely wrcst success from fortune.
As people we have played large
part IN the world. and we are bent upon
making our future even larger than tho
past. In particular tho events or the ihN'
feur years have definitely decided that
fer WOO or for veal. our place must u'
great among tho nations We may either
fall greatly or succeed greatly, but We
cannot avoid tho cudcayor from when
either great failure or great success
must come. Even 10 VIC would. We can
not play n small part. II We should Try.
all that would follow would bee that We
should play a large part iguobly anu
Ehamefully.
No country has ever occupied higher
plane OF material wcll-being than ours
nt the present moment. This wcll-belns
IS duo % no sudden or accidental causes
but 90 tho play OF tho economic forces
in this country FOR over century: 10
our laws. our sustained and continuous
policies above all. 10 tho high lndlNla-
ual average OF our citizenship. Great
fortunes have been won by those VINO
have taken tho lead IN this phenomenal
az
fortunes have been won not hy doing
evil but az an incident 10 action which
has benefited tho community as whole
Never before has material wel-beins
been so widely dlrused among our peo-
pie Great fortunes have been accum
ulated and yet In tho aggregate these
fortunes arc small indeed when com
pared 10 tho wealth OF tho people rs a
whole. The plain people are better on
than they have ever been before. Tho
Insurance companies. which are prac-
tlcally mutual benefit gocietigs-cspecially
helpful 90 men % moderate meanF-r'p-
resent accommodations % capital which are
among the largest in this country There
arc moro deposits in tho savings banks.
more owners OF farms. more wcll-rAii
wage workers On this country now ihhn
ever before en- our history. or course.
when the conditions have favored On"
growth % so much that was good, ih'y
have also favored somewhat TIE growth
OF what was evil. Do is cmiurutly u'r't.
aary that we should eulC1Nur 20 cut on.
this evil. but LEI as keep % due sens" OF
proportion. Jet us not iu fixing Our gaze
upon the lesser cy.l forget the greater
good The evils are real and some OF
them aro mcnucing. but they are tho
outcrowth, not OF misery or dccadence'
but OF prosperity-of the progress OF our
gigantic Industrial development. rms
Industrial development must not De
checked. but side by side with II should
go such progressive regulation as VIII
diminish tho evils We should ihll ln
our duty n We did not try 20 remedy the
evils. but we shall succeed only u We
proceed patiently. with practical common
ssnse "a we'll as resolution separating
the good from the bad and holding on 10
rhe former while cndeavoring TO get rio
OF tho latter.
National Action 20 Control Trusts.
In my message 20 the present Congress
nj its first session discussed az length
the question OF the regulation OF those
big corporations commonly doing an IN
terstate business. often with some ten
dency 70 monopoly. which are popularly
known as trusts. The experience OF the
mast wear has emphasized. In my opin-
lon the dcsirabiity OF the steps then
proposed. A fundamental base OF civil
ixation Is the invioability Of property
but this n In no wise inconsistent Win
the right OF society 20 regulate the cN'
ercise OF the artificial powers which Il
confers upon the owners Of property. un'
dsr the name OF corporate franchises. II
such n way as TO prevent the misuse
OF these powers. Corporations. ana espe'
eially combinations OF corporations
should be managed under public regula'
tion. Experience has shown that undci
our eystem OF government the necessary
80
action. IL must therefore be achieved
bv national action. our aim q not 20 ID
away with corporations. on the contrary
these big aggrcRations are an Inevitable
DEVELOPMENT OF modern industrinllsm. and
the EFFORT TO destroy them would be futile
unless accomplished I'm ways that woul,
work the utmost mischief 20 tho cntlr'
body poIItic We can do nothing OF goo,
in the way OF regulating and supervising
these corporations until We FIX clearly ~
our minds that we are not attacking th'
Corporations. but endeavoring TO do awnl
with any evil IN them. We are not hos
tile 20 them: we are merely determined
that they shall be so handled as 20 sub
serve tho public good. We draw the lln'
afniust misconduct. not against wealth
The capitalist who. alone or In conjunc
tion with his fellows. performs som'
great Industrial feat by which he win
money Is weildoer. not wrongdoer
legitimate lines We wish 90 favor sucl
a man when he does well. We wish q
supervise and control his actions only q
prevent him from doing 90. Pubiicit,
can do no harm 20 the honest corpora
ton: and we need not be ovcrtonde
about sparing the dishonest corporate ton
The Necessity for Care.
In curbinE and regulating the combina
lions % capital which are or may bccom
Injurious 90 the public we must be careful
cot 10 stop tho great enterprises whicl
have lcgitimntely reduced the cost OF pro
Suction, not 90 abandon the place whlcl
bur country has won IN the leadership o
the international industrial world not q
strike down wealth with the result q
tlosing factories and mines. % turnin
the wagc-workcr Idle On the streets an
raving the farmer without n market 10
what he grows. fnsistence upon the i'm
possible means delay In achieving IN
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