The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-04-04
1.-THE SPEECH ON

THE SPEECH ON PIa g.. g.
In consequence of the extraordinary in
dustrial changes of the last half century
and notably of the last two or three de-
cades changes due mainly to the rapid
ity and complexity of our industrial
growth, we are confronted with prob
lens which in their present shape were
unknown to our forefathers. Our great
prosperity, with its accompanying con-
centration of population and of wealth
its extreme specialization of faculties
and its development OF giant Industrial
leaders. has brought much good and some
evil, and 1t is as foolish to ignore the
good as willfully to blind ourselve. to
the evil.
THE evil has been partly the inevitable
accompaniment of the social changes and
where this Is the case it can be cured
neither by law nor by the administra-
tion of the law the only remedy living
in the slow change of character and of
economic environment But for por-
tion of the evil. a. least, we think that
remedies can be found We know well
the danger of ia Sc remedies. and we are
against all violent. radical. and unwise
NhauSts iout We OtlieNe IndL DY pro-
ceeding slowly. yet resolutely. with
good sense and moderation, and also with
firm determination not to be swerved
from our course either by foolish cIamor
or by any base or sinister influence, we
can accomplish much for the betterment
of conditions.
WHAT HE RECOMMENDED.
Nearly two years ago, speaking at the
State Fair in Minnesota, l said
% 1t is probably true that the large ma
jority of the fortunes that now exist in
this country have been amassed. not by
injuring our people, but as ma incident to
the comforting OF great benefits upon the
community. and this, no matter what
may have been the conscious purpose
of those amassing them. There is but the
scantiest justification for most of the
outcry against the men of wealth as such:
and it ought to be unnecessary to state
that ny appeal which directly or indi-
rectly leads to suspicion and hatred
among ourselves, which tends to limit
opportunity. and therefore to shut the
door of success against poor men of
talent, and, finally, which entails the pos
sibility of lawlessness and violence. is an
attack upon the fundamental properties
OF American citizenship. Our interests
are at bottom common: in the long run
we go up or go down together Yet
more and more il is evident that the
State. and If necessary the nation, has
got to possess the right of supervision
and control as regards the great corpor-
ations which are its creatures; paTtlcu-
larly as regards the great business com
binations which derive a portion of their
Importance from the existence OF some
monopolstic tendency. The right should
be exercised with caution and self-re-
straint; but it should exist. so that 1T
may be invoked if the need arises.
Last fall in speaking at Cincinnati |
said.
lhe necessary supervision and con-
troll in which l firmly believe as the only
method OF eliminating the real evils of
the trusts, must come through wisely
and cautiously framed legislation. which
shall aim in the first place to give def
mite control to some sovereign over the
great corporations, and which shall be
followed, when once this power has been
conferred, by a system giving to the
government the full knowledge which is
the essential for satisfactory action
Then, when this knowledge-one of the
essential features of which is proper
publicity-has been gained. what further
steps of any kind are necessary can be
taken with the confidence born of the
possession of power to deal with the sub
ject, and of a thorough knowledge of
what should and can be done in the mat