The comet. (Johnson City, Tenn.) 1884-1916, 1904-12-29
The Handwriting on the Wall.

The handwriting is on the wall in
plain sight of everybody. It matters
little whether the presidents recon-
mendation in regard to federal resula-
tion of railroad rates or Commissioner
Garfield'9 recommendation of federal
licenses for interstate corporations are
enacted at this session or not, or wheth-
er they present the best solution posi-
BILE for the corporation problem. This
thing is certain, that they are dis
closure of the inevitable to the corpor-
alton world.
Surely, and not slowly, is this coun
try progressing more and more toward
Capitalization of power in the federal
government, and surely, and not slow
ly, is public opinion favoring this cen
tralization as the only practicable
method for the control of the corpora
tions. Those who are at the head of
the great corporations may use all of
their power of money and influence,
may call into exercise the ingenuity Of
the ablest lawyers OF the countay, and
may even resort to political corruption
to prevent this result, but at most they
can only delay the consummation Of
the desire of the people. Their better,
their more polite course would be to
accept the inevitable in a philosophic
and patriotic spirit, and endeavor to
adjust their business to the new con-
ditions thus created. Such a policy
would be better for them and better
for the country. 1t would avoid also
the bitterness which such q struggle
would engender, and would be apt to
save the corporations from measures
which would be unjust, because inspir-
ed by spirit of revenge
1t is plain to be seen, of course, that
there are great possibilities Of evil in
the concentration of power in the fed
eral government which is involved in
the government regulation of rates and
in the government control of interstate
corporations. Probably no other acts
would tend more to diminish the au'
thority of the states and to weld the
country into concrete whole than
these two measures. They would put
immense power in the hands Of those
in control of the government, This
would open up possibilities of abuses
and corruption and perhaps even i'm
perialism. But power is always dahg-
erous, and yet there must be power
somewhere if there is to be order and
civilization. The only question is
where that power should be located.
Is it better that the control Of the cor
porations and the railroads should be
left unrestricted in the hands Of the
individuals who own them, with the
opportunity to exercise this immense
power over the people without any di-
rect responsibility to the people? Is it
better that the regulation of the cor
porations should be left to the forty
five different states, with their forty
five different laws, their forty-ffve diff
ferent systems? Or is it better that
this. power should be lodged in the
hands of the representatives of the
whole people in the government at
Washington, these representatives hav-
ing direct responsibility to the people
and subject at regular intervals the Ii
ability Of being overthrown by tho vote
Of the people? The people appear to
have made choice of these three diff
ferent policies. They are in favor Of
federal regulation. That is the hand
writing on the wall. New York Wal
street Journal.