Gloucester County Democrat., 1903-01-15
For Sale by ]. W. Merritt
OPP. Court House.

situation really threatening 1 stinI
would have supreme faith in the ability
of the people of the country to protect
themselves in any emergency that may
arise The nation was born in wal
for human rights. 1t has stood the
strain of the greatest civil war in his
tory fought for human rights. 1t has
given it's treasure and it's blood without
reward to aid it's helpless and oppressed
neighbor for human rights. 1t stands
today resplendent in the morning of its
existence, the envy and hope of the
world Can such a people or the rights
of such people be in danger from cor.
porations, however powerful, organized
under and amenable to it's own lawsi
Such danger is impossible. The dan.
ger is not to the people from the greed
of corporate power asserting itself un.
wisely, but to the corporations them
selves.
Because of this alleged danger it has
become the fashion of the day to assail
corporations on general principles, ana
the public man who is bold enough tc
say word in their favor runs the risk
of bitter criticism as to his motive, as il
it were a crime to be stockholder and
immoral to be the friend Of stock.
holder. 1t is time the air should be
cleared. The corporations have theil
rights as the individuals have theirs
We undertake here in New Jersey tc
nrotoot tboro in thnir riphtS
Revenue From Corporations.
In the past ten years the corporations
organized under our benefcent laws
have paid the state the large sum OF
$13,000,O00, and for the last three years
the payments have averaged $2,227, ,346
These corporations represent every con-
ceivable industry. Their capitalization
is many billions, and the number OF
stockholders are hundreds of thousands
if not millions. We have taken thei1
money and sold them the charters un-
der which they do their business. We
continue to take their money each year
in the shape of taxes, for which we
give them the continued protection of
our laws. The state has it's obligations
to these stockholders. Let us live up to
them frankly and manfully and not be
ashamed of being honest.
Some carping critic who misreads my
words will say that there is something
of more value to the state than money.
That is what l am trying to make
clear. There is honesty and high pur-
pose and the courage of conviction,
hidden. alas, at times, but it exists
The courage to stand firmly on princi-
pie and do right, whether it is for the
private individual, the corporation or
the state Do not let us be disturbed
by the clamor of the demagogue or the
speeches of those who in these days of
magnificent and uneXampled prosperity
needlessly alarm the people as to the
power of the nation to deal adequately
with its own, but let us patiently and
constantly do our duty first to the peo-
pie of the state and then to those who
have sought the protection of the state
as that duty shall be made clear.
Bonds of Indemnity.
I call your attention to the advisable
ity of passing a law requiring Ht1gantS
who seek to enjoin corporations or 9th
ers in the state from carrying out plans
adopted by them to give bond of in
demnity to the party attacked in such
sum as the chancellor shall deem prop
er in case it be finally determined that
the applicant for the injunction was
not entitled to the writ. am informed
such law exists in New York state.
The matter is important, and I hope
the legislature will take such action as
in it's judgment it may deem wise.
l shall be glad to extend any assist
ance at my command in the discharge
of your legislative duties and hope fof
cordial relations between the executive
and legislative departments in our joint
labors for the state.
FRANKLIN MURPHY.