The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-21
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corporations where the poverty Of the II,
while to form corporations. There is no
difficulty in regulating railroads where the
resources of a region are SO fey that It
does not pay TO build railroads. There are
many excellent people who shake their
heads over tn, difficulties that as a nation
we now have to face: but their melan-
partial degree for most OF the things OF
which they complain are the inevitable
Accomplishments of the growth and great
ness OF which we are proud.
Now, do not Wish to be misunderstood.
I do not for one moment mean to say
that there are not many and serious evils
with which we have 70 grapple. or mat
body social and polite: but do mean
to say that while we must not show a
foolish optimism we must no less beware
OF q mere blind pesslmism. There IS every
reason why we should be vigiiant in
searching out what is wrong and un-
flinchasly resolute in striving 20 remedy
blind ourselves to what has been accom-
pished for good. and above all we must
| not lose our heads and become either hySs-
terical or rancorous in graphing with
what is bad.
Take such a question, for instance. as
the question, or rather the group OF ques-
tons, connected With the CROWN OF cor
poratioas in this country. This growth
! has meant. of course, the growth OF in
| diyidual fortunes Undoubtedly the
| growth of wealth in this country mas had
! but 1t seems 10 me that much the worst
| damage that people of wealth can do the
| rest Of us is not any actual physical
harm, but the awakening in our breasts OF
either the mean vice OF. worshipping, mere
wealth. and the man Of mere wealth. ior
the wealth's sake, or the equally mean
vice of viewing with rancorous envy ana
hatred the men OF wealth merely because
they are men OF wealth. Envy IS. OF
course. merely kind of crooked adnlrd-
ton; and we often see the very man VINO
in public is most Incorporate IN his de-
nunciaton of wealth, In his private life
! most eager TO obtain wealth, in no matter
what fashion, and a. no matter what
| moral cost.
Need of Regulation.
Undoubtedly there is need OF regulation
by the government, in the interest OF the
public. OF these great corporations which
| be the most eflcien. business implements,
! and which are. therefore. he implements
/, commonly employed by the owners OF
creature OF the State. 1t should always
| be held accountable to some sovereign,
| ard this accountability should be real and
| not sham Therefore, In my Judgment, all
corporations doing an interstate business.
and this means the great majority or the
| largest corporations. should be held &C
countable to the Federal goyeTnim I, pc
L
1 extensive with their field of action. But
| mos, certainly we should not strive TO
| prevent or limit corporate. activity we
l should strive to secure such cffcct!Ye SUI
| pervision over II, such power OF reguia-
| ton over II. as to enable us to guarantee
that It's activity will be exercised only In
4 wisdom OF any wcll-meaning but mis-
guided effort to check corporate activity
| has been shown in striking fashion N
recent years by our experience In the Phil.
4 ippInes and In Porto Rico. Our. national
4 legislators very properly determined thai
the islands should not be exploited BY
est Of the people Of the islands them.
selves But unfortunately in their zeal tc
4 prevent the Islands from being Improperly
exploited they took measures Of sue.
] severity as to seriously, and IN some re
spects vltaly. to hamper and retard The
development of the islands. There is no
thing that the islands need more than &c
have their great natural resources de
veloped. and these resources can be deYel
oped only by the abundant use Of capital
which, OF course, will not be put into thcn
unless on terms sufficiently advantaseou.
TO offer prospects Of good remuneration
we have made the terms not merely hard
but often prohlbitory, with the result thai
& American capital goes into foreign coun
tries, like Mexico, andtis there used viii
& immense advantage to the country IN 1t!
development, while It cannot so into oul
4 own possessions or pc use, used 10 develop N
ferers by this state OF things are the peo
pie OF the Islands themselves.
Treat Them Fairly.
+ IT Is impossible too strongly to insis
upon what ought to be the patent fac
that 1t Is not only5iin the interest OF tn,
people of wealth themselves, but IN ou
interest, In the interest Of the public a
a whole, that they should be treated faIrl,
and Justly; that If they show exceptiona
business ability they should be given ex
centional reward for that ability. Til
tissues of our industrial fabric nre inter
woven In such complex fashion that wha
strengthens or weakens part also strength
ems or weakens the whole. If we penaliz
industry we Will ourselves In the en-
have to pay considerable part OF tn
penalty. II VIC make conditions such tina
the men of exceptional ability are able t
that ability. then we shall ourselves benz
III somewhat. 1t is our interest no les
thnn our duty TO treat them fairly. On tn
y other hand. 1t Is no less their interest
treat us fairly-by ''us'' mean the gres
body Of the people, tho men Of modera
or small fortunes, the farmers, the wag
workers. the smaller business men an
professional men. The man OF grei
means who achieves fortune by crook,
methods does wrong to the whole boo
polite. But he not merely does wTor
TO. he becomes souCce OF iinminc
danger to-, other men OF great means; 4
his ill-won success intends TO arouse
feeling Of resentment which II It b
. tween the men of wealth who have do
decently and the men of wealth W
have not done decently.
Tho conscience of our people nag he