The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1904-08-19
GOVERNMENT CONTROL OF COR.
pORATlONs.

| nv I'm New YORK, a man OF Clear arc
strong economic perception, does not
like the growing popularity of the Jlaf
10 put tue coi POI ,.t
heht coil'ioi a'' e.I. -,
po"er Vi N''e $50. -, -. ia
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supreme cIui. -, er1.,,at t. ho,h
years ana ,ie ,, i'',e"a 4. as,.tnuo ~
parties "uu.u IN ,..,,'s,, -
| nv .,,.t,,a,- ~
.ie"'is line $3.50 LEI,
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a ' u" "i'' ,,,, o., 80
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| "i'"slS VI i"7n'S' ny
the "heeis VI i,'uusl,S
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'hat niie spi'it VI 30
anu sent va. us -
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'n"n Va 80 80, ,..,
pIe wv i"'p 'a' -. VS. 80 80 t.,
,s '"''"s i' ~. 60.
uus' .,,,' iie',' c,,a.,a,.,,, ~,
,,h NC
u n.y.
THE concentration at Washington of
all power over corporations, including
the granting of franchises by law, their
regula ton by executive boards and
their Interpretation by federal courts,
would make possible capitalization
,f of
as has never before been possible in the
history of the world. 1t would surpass
in some ways the concentrated power
of corruption which was practised at
Rome when Jugurtha was able to 'ie-
clare it a city where everything, even
national honor, was sold and where
republican government finally peflshed
because of the enormous pribes Which
We're offered to the voters by the gen.
erals and spectators who had appro-
priated the spells of the world. Inc
advocates of sweeping changes IN the
control OF corporations should at least
measure the possibilities of danger IN
transferring to the federal capital the
great forces of corruption which make
our city governments In many Eases
the plague spots or our pohtlcal sys-
TEN, ana Whlch make state legislatures
too often the Tools OF those VINO seek
to buy great franchises.
public opinion, II concentrated upon
Washington, instead OF difused ever
forty-hVe state capltois' would I'M
doabtedlv break out at times In resent
ment against some slaring abuse; pu
would 1t be able To follow all the S!nu-
N lS n % N
and executive ofices?
Men IL PUBIC ONCE are only hima1. !
# the prospect of few thousa lds So /,
ing to favored contractors was sufti-
Gent recently to seduce the virtue of
several of the undergrad heads of bu-
reaus in the Pest-office Department and
to permit them, though compliment !
collusion, to carry on frauds FOR Years
without discovery, what would he the
influence upon bureau of corp rations
OF projects involving millions-where
the change OF comma or phrase, |
even not unreasonable delay il max |
ing decision, might enrich corrupt
Or weak official with hardly the pGssi-
bility of detection?
Every hnancier knows how impor-
tant are what seem to be most triiling
things in determining the value Of
franchise or in getting ahead of a CON-
tba cop,nersation eo,,ati,nas ,,,.n,.
,Ie for ,,,a,lI,, ,Ia1a, 49,, ,,.,,s,,;,S,,
:, aacisior ,,Io shaH sa,, ,b.,, e,,,iarn,
omo,oIa Uashi,,,t ,i.h ,,,a,,,,
,oroinor ,,,,, co zoo ~, 60 q, ooo 80, ~
most eXacting and responsible duties, |
would always be impervious to such
temptation? They would hold IN their
hands a power of extortion such as has
never, been surpassed. How serious an
obstacle may be interposed to corpor-
ate plans even by delay is shown by
the long litigation over the United
States Steel bonds which We're issued
In exchange for preferred stock. 1t was
"A commendable act on the part of Mr..
to determine to resist the buc-
Gamers who undertook to check the
plans of the corporation by strike
suits; but in making the decision TO
fight rather than to pay he probably
the corporation, by the de-
cline in the value of the bonds between