New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-10
THE CORPORATE GOAL.
fudge Grosscup Speaks on Tend
eRcies and Remedies.

Chicago. oct s.-Chcago Day was celebrated to-
night with dinners at the Marquette and Lakeside
clubs al which well known men from various parts
OF the country spoke. Al the Marquette club the
principal speakers Frank :. Black. eN-Gov-
error OF Now-Nork; Governor Winfield T. Durbin
Of Indiana. Governor Samuel r. Van SAINT Of Min
ncsota, and Judge Pete : Grosscup. Of the United
States Circuit Court Ex-Governor Black respond
90 10 the toast. .partisauship"
Governor Durlin spoke on The American Spirit"
lie said that the American spirit was the spirit Of
Individual initiative. ana made argument against
socialism and plea that its encroachmen;s be
halted
JuGee Grossccp. i'm responding TO the toast. 'Ia-
corporated Dishonesty" said in part:
The corporation is here to stay. Honestly or
Ranized and managed. il Is CIVILIZATIONS way 81
making masses OF men etleCuNt- ~ altetid. uol.
oates a large portion Of the COuntrEs property.
and its destiny is to diminish. but TO reach oui
lanized homes; corporations. that deal honestly
vita the public with The shareholders an n WI.
H. that quarter OF abe armament toward which our
national destiny swings. ] have found them in
industry. ] honor them. Posterity viii honor th'H
the examples that helped 10 save ,.,.
But. under the prevailing public policy dishonest
men launching corporations, and what m me iols
prises loaded down that no fate remains but 10
crnment Already our Industrial pathway is strewn
with the wrecks of the structures thus set u0. ana
gave them their confidence. These men ana Their
s,1ri-e I iarc Tl,e, lrfur nothing to humanity but
suffering. and leave nothing 10 mankind nut us
grace. To lend them the seal Of government Is III
essence and effect. 70 incorporate dishonesty.
what Is the effect OF this policy not simply on
the character Of our industrial life but ITS efeGt
upon future a republican people! As PIT
nate property changes into corporate property the
people at large are WlthlfaWlig. IN m a.
1re. from active ownership in the properties o.
the country. and ii il Eoes on. this nation VIII ne
no longer nation Of property owners, Dut VIII
become a nation where the actual property belongs
10 a small minority. through means borrowed
largely the majority. IL is significant trans
formation. one without precedent, and one ihal we
N-ehster once said that in a nation where the
property is owned 10y the lew AND the lollu'ti
power welded by all the political power viii soon
he used TO acquire the property 40 truth, ever
Spoken is worthy Of better heed and no time better
than TO heed Il. To oisplace the olo oroeE OF
frircs ur6er which the active ownership of the
properrv Of the country was widely 0lStlou1su
among the people At large. would not simply
threaten revolution-it would be revolution.
Put the organization 81 an CorI,orauoIS On a
basis that is fixed. and. above all other consldera-
tous. simple and movable. compel them 10 STAR
OF assets reasonably equal 10 their caEllal. keep
fhem subject 10 inspection. as banks aia, unsS
comma MES are now organized and inspected. and
urlcertainty-not uncertainty OF judgment but Ill-
nlent acts-wil disappear. In this way. and In TINS
way alone. in my Judgment can this increasing
hack into the peoples ownership. In this way
and IN this waV alone. VIII the government he saved
the scandal of putting lis stamp upon enterprises
flat IN many cases call Immediately thereafter lor
rl~osecutiCn as schemes 10 defraud- Cleanse cor
porations Of the bad reputation that has grown out
az present policy, and the cure VIII nave oeeh
accomplished.
Governor Van SAINT made a speech, in which he
suggested that the development Of the spirit Of
srity and the increasingly cordial relations be-
tween this country and Canada might presage
single country from the Arctic Circle TO the Gult
Of Mexico. with the Stars and Stripes for its nag
state ATTORNEY Charles :. Deneen. Judge O-rin y.
Carter and the Rev. r, a. White. all of this city.