Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-12-08


atves:
The country is to be congratulated
on the amount Of substantial achieve
ment which has marked the past year
both as regards our foreign and as re-
CARDS our domestic policy.
With q nation, as with a man. the
most important things are those Of the
household, and therefore the country
is especially to be congratulated on
what has been accomplished in the di-
rection of providing for the exercise of
supervision over the great corporations
and combinations Of corporations en-
jagged in interstate commerce. The
congress has created the department
Of commerce and labor, including the
bureau Of corporations, with for the
first time authority to secure proper
publicity of such proceedings of these
great corporations as the public has the
right to know. 1t has provided for the
expediting of suits for the enforcement
of the federal antitrust law, and by
another law it has secured equal treat
ment to all producers in the transporta-
ton of their goods, thus taking long
stride forward in making effective the
work of the interstate commerce COM
mission.
Department Of Commerce and Labor.
The establishment Of the department
Of commerce and labor, with the bu-
reau of corporations hereunder, marks
q real advance in the direction Of doing
all that is possible for the solution Of
the questions vitality affecting capital
lists and wagewOrkers. The act Great
ing the department was approved on
Feb. IA, 1903, and two days later the
head of the department was nominated
and confirmed by the senate. Since
then the work Of organization has been
pushed as rapidly as the initial appro-
priations permitted and with due re-
gard to thoroughness' and the broad
purposes which the department is de-
signed to serve. After the transfer of
the various bureaus and branches to
the department at the beginning of the
current fiscal year, as provided for In
the net, the personnel comprised 1889
employees in Washington and $3.50 in
the country at large. The scope OF the
departments duty and authority en-
braces the commercial and industrial
interests of the nation. 1t is not de-
signed to restrict or control the fullest
liberty Of legitimate business action,
but to secure exact and authentic infor-
nation which will aid the executive in
enforcing existing laws and which will
enable the congress to enact additional
legislation, if any should be found nee
essary, in order to prevent the few from
obtaining privileges at the expense of
diminished opportunities for the many.
The preliminary work Of the bureau
Of corporations in the department has
shown the wisdom Of its creation. Pub
licity in corporate affairs will tend to
do away with ignorance and will afford
facts upon which intelligent action may
be taken. Systematic, intelligent inves-
tigation is already developing facts the
knowledge of which is essential to n
right understanding Of the needs and
duties Of the business world. The cor
poration which is honestly and fairly
organized, whose managers in the con-
duct of its business recognize their OBJ
legation to deal squarely with their
stockholders, their competitors and the
public, has nothing to fear from such
supervision. The purpose Of this bu-
reau is not to embarrass or assail legiti-
mate business. but to aid in bringing
about a better industrial condition, a
condition under which there shall be
obedience to law and recognition of
public obligation by all corporations,
great or small.
Functions Of New Department.
The department of commerce and la
Dor will be not only the clearing house
for information regarding the business
transactions of the nation, but the ex-
ecutive arm of the government to aid
in strengthening our domestic and for
eign markets, in perfecting our trans
pOrtation facilities, in building up our
merchant marine, in preventing the en-
trance of undesirable immigrants, in
Improving commercial and industrial
SOuOlllOuS duu III UIluSluS toSClACA oAA
common ground those necessary part
ners in industrial progress, capital and
labor. Commerce between the nations
Is steadily growing in volume, and the
tendency of the times is toward closer
trade relations. Constant watchfulness
ds needed to secure to Americans the
chance to participate to the best advan-
&age in foreign trade, and we may con-
.lidently expect that the new depart
ment will justify the expectation Of its
creators by the exercise Of this watch
fulness as we'll as by the businesslike
administration of such laws relating to
our internal affairs as are intrusted to
its care
In enacting the laws above enumerat-
ed the congress proceeded on sane and
conservative lines. Nothing revolu-
tionary was attempted. But common
sense and successful effort was made
In the direction Of seeing that corpora
lions are so handled as to subserve the
public good. The legislation was mod
crate. It was characterized through
ont nv the idea that we were not at