Arizona republican., 1903-01-23
New Jerseys Governor on Corpora
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tiOnS.
 The annual message of Governor Murphy of New Jersey has attracted general attention because of the bold stand which he takes in defense of the much abused corporations. It being very fashionable just now for the players of political policy to view with alarm" everything that takes the shape of a corporation, it is refreshing to note the position of New Jerseys governor He takes particular pains to place his state in a better light before the pup lie.
 The governor states in substance that some who are ignorant of the facts have the impression that the laws or New Jersey are especially liberal to corporations organized under them, and grant such organizations unusual and unwise powers. This, he asserts, IS not correct The laws, he says, do recognize the right of property 70 pro- lection, but they recognize as well the right of the people to protection; they carefully and justly guard the inter- csts of both. Corporations that desire to conduct their business as honest men conduct theirs, are as fully protected as is any individual in the state, but no more. It is only ignorance of the facts that has led to any different impress sion. Among those who know the facts as they are, New Jersey has wen entire confidence because of the condition of it's laws; that is because they protecy alike and with absolute equity the rights of the people and the rights of property. The governor tells us also that the result of this confidence has been so marked by the great number of corporations which have organized under the laws of New Jersey that the fees and taxes from this source are sufficient to pay the annual expenses of the state, to pay a large proportion of the cost of our public education. and to leave a handsome surplus besides"
 The New Jersey governor remarks further that as a matter of fact there are few if any real trusts''-meaning by that corporations which, as another writer has described them, "fatten Ut the expense and the discomfort of the public" Governor Murphy goes on to say that the name of trust" is given prumiscuously to large corporations of all kinds, especially when made up of a combination of a number of small concerns. It is q wrong use of the term and it carries an unjust inference. but has come into common use. Under the influence of this perversion in the name "the trust question at the mo- ment has taken on such large propor- tions as to be the absorbing question" and ''the public mind is interested to such a degree that a feeling of appre- hension exists"
 There is, however, TO more occasion for alarm because of the average cor poration than the Arab has at a vision of his afrit or we have for the ogre of our childhood. Labor was never so fully employed. Wages were never so high. The savings bank deposits were never so large" Only a single fact out of the usual accompaniments of an era of progress has become prominent Tn the development Of this prosperity small concerns have grown to large ones and those already large have grown larger" Competition produced this movement. It is a business en- dcavor, evolved from the necessities of the case to accommodate the conduct of business to the changed conditions of the present time. Combination means a large concern but it does not necessarily mean a monopoly As al matter of experience it is found that when it approaches a monopoly new capital seizes the opportunity fer new establishments and competition again appears. Our people do not long neg feet to improve a good opening for d l profitable venture.
 Commenting upon Governor Murphy's | message, the New York Financier re- marks:
 Ut has become the fashion, and in- | deed the pet rage of the day. to assau | corporations. So true is this that as i the governor says, the public man who ! IS bold enough to say a word in their favor runs the risk of a criticism or his motives just as if it were a crime 10 be a stockholdcr and showed an inn moral tendency to be Q friend of the | stockholder.' Is it not time that these notions, born of ignorance. should Da | disavowed by intelligent men? They | are libel on our free school system.
 Thele is considerable curiosity in | some quarters to know from wha. 1 butcher shop in Arizona the cartoonist of the Los Angeles Times graduated. |