The Yale expositor., 1903-12-11

second session OF the Fifty-eishth Con-
Kress Ia substantially as follows:
TO fAe Senate aud House Of RepreseH-
fdftves:
with a nation as with = man the most
important things are those Of the house
hold. and therefore the country II espe-
claily to be congratulated on what has
been accomplished In the direction Of pro-
vidlnE for tho exercise ~ supervision
over the great corporations and combina-
lions Of corporations engaged In inter
state commerce The Congress has Gre
ated the Department OF Commerce and
Labor including the Bureau OF Corpora
tions with for the irst time authority 10
secure proper publicity OF such proceed
ings % these great corporations ~ the
public has the right Co know. IL has pro-
Vided for tho eKpediting of suits for the
enforcement OF the Fedeul antitrust
law and by another law Il has secured
equal treatment To all producers la the
transportation % their goods. thus taking
n long stride forward In making effective
the work OF the Interstate Commeice
Commission.
Department OF Commerce and Labor.
The establishment OF the Department
OF Commerce and Labor. with the Bureau
of Corpora lions hereunder. marks real
advance IN the direction Of DOING all that
Il possible for the solution 81 tho questions
vitality Affecting capitalists and wage
workers.
Functions OF New Department.
The preliminary work ~ the Bureau
Of Corporations Ia the department has
shown the wisdom ~ It's creation. Pub
licity In corporate affairs will tend TO DO
away with ignorance. and Will anord
facts upon which intelligent action may
be taken. Systematic. intelligent inves-
ugntiun Is already developing facts the
knowledge ~ which n essential To a right
understanding ~ the needs and duties %
the business world The corporation
which is honestly and fairly organized.
whose managers iu the conduct % It's
business recognize their obligation 10 deal
rluarcly with their stockholders. their
comp. titOrs. and the public has nothing
Co fear from such supervision. The pur-
pose OF this bureau ~ not TO embafrasa
or assail legitimate business. hut 20 aid
in bringing about better Industrial con-
dition--a condition under which there
shall be obedience 20 law and recognition
of public obligation BY all corporations.
great or small The Department 81 Com
merce and Labor viii bs not only the
clearing house Tor in:Ormatio regarding
the business transactions OF the nation
but the executive arm % the government
60 aid Ia strengthening our domestic and
foreign markets. Ia perfectinE our trans
portation facilities. IN building up our
merchant marine. in preventing the en-
trance % undesirable immigrants. la inn
proving commercial and industrial condi-
t.ons and IN bringing together on com
mon ground those necessary partners In
Industrial progress-capital and labor.
Commerce between the nations n stead
ily growing In volume. and the tendency
of the times IL toward closer trade rela-
lions. Constant watchiulncss Is needed
90 secure 10 Americans the chance 20 par
flcipnte 60 the best advantage I'm foreign
trade: and We may confidently expect
that the new department will Justify the
expectation % its creators by the cxer-
else 90 this watchfulucsH. as well ~ by
the busincsalll,e administration % such
laws relating Co our internal Affairs as
are intrusted Go IT. care
IN enacting the laws above enumerated
the Congress procc rded ON sane and con-
nervatvc lines Nothing revolutionary
was attempted. but common-sense ana
Yucccssful effort was made IN the drec-
ton Of seeing that corporations are so
handled as 90 suhserve the public good.
The legislation was moderate. IL was
characterized throughout by the idea that
We were not attacking corporations. but
sndeavorlng 20 provide Tor doing away
with any evil IN them. that We drew the
line against misconduct. not against
wealth. gladly recognizing the great good
done by capitalists who alone. or In
conjunction with his fellows. does his
work along proper ana legitimate lines
The purpose 81 the legislation. which pur-
pose will undoubtedly be fulfilled. was TO
FAVOR such n man when he does WELL and
60 supervise his action only To prevent
him from doing 80 Publicity can do no
harm 90 the honest corporation. The
only corporation that has cause 10 dread
~ Ia the corporation which shrinks from
corporations we need not be oversensitive.
The work OF the Department Of Com
MERGE ana Labor has been conditioned
upon this theory Of recurring fair treat
ment alike for labor and for capital
Capital and Labor.
The consistent policy Of the national
government. 80 FAR as u has the power,
is 60 hold Ia check the INSCRIPTIONS man.
whether employer or employe: but 10 re-
fuse 60 weaken Individual initiative or
w. hamper or cramp the Industrial devel-
Cpment ~ the country We recognize
that this 10 an era 81 freedom and com.
hlnation. In which great capitalistic cor
poratioas and labor unions have become
factors OF tremendous importance IN all
Industrial centera Hearty recognition II
given the far-reaching henehcent work
which has been accomplished through
both corporations and unions. and the
Tine a. between different corporations.
"a between different unions. Is drawn as
a u between different individuals. that
~. u IL drawn on conduct. the effort be-
ing 10 treat both organized capital and
organized labor alike asking nothing
save tho interest of each shall be brought
into harmony with the interest % the
genera. public. and that the conduct oi
each shall conform 90 the fundamental
rules % obedience 90 law, 81 individual
freedom. and Of Justice and fair dealing
towards al. whoncvrr either corpora
ton, labor union. or individual disre-