The Montgomery advertiser., 1903-10-10
CHICAGO DAY IS CELEP~~ ATED
 { Marquette 2s Lake Side B'lsts- JUDGE s>sscup SPEAKS incorporated Dishonesty" the Judges Theme. Governor Van sant Ex-Governor Black, Governor Durbin, states Attorney Deneen and others
 Deliver Speeches.
JUDGE S,sscuP SPEAKS
Governor Van sant E1-oovernor


 brated tonight with banquets by the Mar quette and Lake Side Clubs, at which prominent speakers from various partz of the country were present. At the Mar quette Club the principal speakers were Frank S. Black, former Governor of New York; Governor Winfield Durbin of Ia- diana, Governor s. R. Van Sant of Min neapoiis and Judge Peter s. Grosscup of the United States Circuit Court. Many topics were discussed, all Of which met the hearty approval of the 2S0 banqueters present.. George R. Peck of Chicago, was toastmaster.
 .'The American Spirit.Y was the subject discussed by Governor Durbin.
 Judge Peter 6. Grosscup of the United States Circuit Court, in responding to the toast Incorporated Dishonesty. '' said:
 Speech of Grosscup.
 '"rhe government under wnich we live Is in reality two governments. one ep bodying the power of the people of tn. United States. the other the power of that as citizens of our State, we Jein with other citizens :n creating the States policies. and making the States laws, and as citizens of the United States. we join her larger citizenship in creating her policy and making her laws. It thus comes to pass that the policy of the State may not be the policy of the na- ton. and that, as citi: ems oe the nation, we may be in conflict with ourselves as citizens of the State. In this double character of government is to be found the explanation of the peculiar ccrpo a. ton policy which the nation has mt consciously adopted. but into which the American people have unconsciously drifted.
 .'When the original line between States and national,powers was run, the power to create and deal with corporations was left practically to the States. At that period. corporations were few and their ralative importance small; for the prop Artys Of the enuntry was. owned and r1anr aged almost entirely by individuals. There were no railways. no great facto- ries. no need of legal facilities to handle large masses of capital. It was still -he day of individualism. The last century. however. has knit men close together i1 industry and society. ro-iay we are compelled, whether we wish 1t or not, to live at each others elbow. and from each others hands. Isolation is gone. Nov, and henceforward increasingly, eur hands work side by side with the hands of others, our thought grooves in with their thought, and our arcumulations, If we continue proprietors in our count-Y's 8 property, commingle with their accumu- latlons in the great corporate enterprises that carry on the affairs of mankind.
 Corporation Here to Stay.
 ''The corporation is here to stay. Hon. estly organized and managed. 1t is civ- ,lization's way of making masses of men effective. It already do'ninate7 large portion of the country's property, md it's destiny is not to diminish. but to reach out, and perpetually enlarge. Eeeesss r- fly between such a power and govern ment there must be a close relationship, and originally this fact was not over looked. The earliest corporations were created by special act of the Legisla- ture. Theoretically at least they were required to show a good reason for ex- istence, snd a reasonable prospect of long life and solvency. But in the bound- ing progress of industrial life incorpor- ation by act of Legislature became cum brous and impossible. It was in time supplanted by the enactment of general laws un6er which, in the ore tent state of development, almost any enterprise can-except from inquiry into either the reason or the basis of its organization obtain the corporate seal of some State; and this, in some quarters. Is called in dustrial liberty. To prorote and enlarge that character of liberty, States have raced with States, old Massachusetts only recently joining in the dasf, until the resulting corporation policy of the country may be summed up as a free field, and so as you please for every kind of corporate organization that hu- man ingenuity can contrive.
 Result Predestinsd.
 "Ihc practical result was predestined. Honest men have organized honest cor porations, that deal horestly with the public. with the share holders. and with their employees. These enterprises are bright stars in that quarter of the fir mameut toward which our national des- tiny swings. have found them in every part of the country, and in almost every industry. l honor them. Posterity will honor them as the examples that helped to save. But under the prevailing public policy, Lishonest men. launching corpcr- ations, and, what in The long run Is the same thing, visionaries launching enter prises so loaded down that no fate re- mains but to sink, have equal access tc the great seal of government. Already our industrial pathway Is strewn with the wrecks of the structures thus set up, and all about them bieach the bones of the victims who gave Nthem their conn., dence. These men and their works hate. They bring nothing to humanity but suffering. and leave nothing to man. kind but disgrace. To lend, tc them the great seal of government is, in essence and effect, to incorporate dishonesty.
 T have neither time nor purpose on this occasion, to follow this policy into all its results. It Is nothing less than public policy favoring high prices and oppression; for where there be the nec- essity to declare dividends on the crea. tons of imagination, means win be found. It Is a public policy that breeds distrust of every kind Of corporationLa distrust extending to the honest. as well as to the dishonest. It over-shadows every form of legitimate enterprise with the darkening clouds of universal sus- picion. It extends the hand of govern ment to the swindler and the visionary as readily as to the honest man. It is a policy of deception often descending into fraud. Such an attitude, I need moi say, Is unworthy of government
 Effect on the Future.
 'But all these considerations I lay