The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1902-12-11
DEALING WITH TRUSTS.
Corporations Should BE Managed I'M
der Public Regulation.

Corporations SuOutu be MauaSco ~ IL
der Public Regulation.
In my message to the present Congress
nt its FIRST session l discussed at length
the question of the regulation of those
big corporations commonly doing an Inter
state business, often with some tendency
to monopoly, which are popularity known
as trusts. The experience of the past
year has emphasized, in my opinion, the
dcsirability of the steps l then proposed.
A fundamental requisite OF social efii-
cheney is n high standard OF individual
energy and excellence; but this is in no
wise inconsistent with power to act in
combination for aims which cannot so
we'll be achieved by the individual acting
alone. A fundamental base of civiliza-
ton is the inviolability of property; but
this is in no wise inconsistent with the
right of society to regulate the exercise OF
the artificial powers which it confers up
OH the owners of property, under the
name of corporate franchises, in such a
way as to prevent the misuse of these
powers. Corporations. and especially
combinations of corporations. should be
managed under public regulation. Expe-
rience has shown that under our system
oA government the neeessaf! suPer ''s.oi
cannot be obtained py stare action: IL
must therefore, De aehieVed py hationai
action. Our ann Is not 10 90 away with
corporations; on the contrary. these big
aggregations are an inevitable develop
ment of modern industrialism, and the
effort to destroy them would be futile un-
less accomplished in ways that would
work the utmost mischief to the entire
We are merely determined that they shall
be SO handled as to subserve the public
good. Publicity can do no harm to the
honest corporation; and We need not be
overtender about sparing the dishonest
In curbing and regulating the combi-
nations of capital which are or may be-
come Injurious to the public we must be
careful not to stop the great enterprises
which have lecitimetely reduced the cost
of production. NOT to abandon the place
which our country has won in the leader
shin of the international industrial world.
NOT to strike down wealth with the result
of closing factories md mines. of turning
the wage worker idle in the streets and
I.o v;np the farmer witbout a market f,,r
n hat no OrnNSa InSiSfpnCp nnOn fla IL
possible means delay in achieving the
nossible exactly ms. ON the other hand.
the stubborn defense alike of wh,t il
rooa and what Ia had In the exist;n.. ,v,.
,.u tho rasoIrte effort IN obstruct any
.,temnt at hetterment betrovs blindness
h tho historic trrtb that wise evolution
i ,h. srra .ofoc,ord ,c,;nst ravoI,,;o,
No more important subject can come
before the Congress than this of the regu-
atiOn of interstate business. This coun-
try cannot afford to sit supine on the plea
hat under our peculiar system of govern
mcnt We are helpless in the presence of
the new conditions, and unable to srap-
pie with them OF to cut out whatever Of
evil has arisen in connection with them.
The power of the Congress to regulate
commerce IL an absolute and
alquaiiieu grant, anu Mi'nout hnu,n
,nns,;tu,;o, -
hoi;ayo that p,oponol;es r,;rs, Dis
which nroy.pt or cr;nnI.
frouJr,ant oy.rco,,;toi la.
-;on snd o,ho- or;Is in trrst or,,,,,;-o.
-;ons ord nroc,;,.os which ;n;rr;ousI,. of-
f..c, ;nt.rstoto tr,d. can bs nr.voprod mn.
l,r tho mower of tho CONGRESS- 10 ..ro-u-
,,a commerce viii fore;.n n.t;ors and
anon tho several states" tbroncb reyu-
ot;ons ond raou;re,napts onerat;r, Al.
,ectIv mon snch comm.rce the ;ps,ru.
,ent,,;ties thereof and those enc,yed
.bere;n
o.rrost,v r..oruena this s,,;,., ,o
.ha oan.;d.r.,;on Of Tho connreSs ,,.;,h
80 60 ,La noSsooa of Ia,r roos"nnh,,
m ;ts nror;s;ons and effective IN ;,s an.
,r,t;ons nnon wh;c,, tho o,ost;ons 90, n.
;noJIv od;nd;coted that now raise doubts
40 IN tho NECESSITY of constitnt;,n,l
,mendmopt IL II nroxe ;mross;hIc m ,,c.