Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1905-10-21
Need of Government Regulation.

Neeo OF Government Regulatlon.
Undoubtedly there is need of regula-
ton by the government, in the interest
of the public, of these great corpora
tiOns which in modren life have shown
themselves to be tle most efficient
business implements, and which are
therefore, the implements commonly
employed by the owners of large for
tunes The corporation is the creat
ure of the state. 1t should always
be held accountable to some sovereign
and this accountability should be rea
and not snow Therefore, in my judg
ment, all corporations doing an inter
state business, and this means the
great majority Of the largest corpora
tions, should be leld accountable tC
the federal government, because their
accountability should be co-eXtensive
with their field of action. But most
certainly we should not strive to pre-
vent or limit corporate activity. We
should strive to secure such effective
supervision over it, such power of regu.
lation over it, as to enable us to guar
antee that it's activity will be exercised
only in ways beneficial to the public
The unwisdom of any we'll meaning
but misguided effort to check corpor
ate activity has been shown in striking
fashion in recent years by our expert.
ence in the Philippines and in Porto
Rico. Our national legislators very
properly determined that the islands
should not be exploited by adventurers
without regard to the interests of the
people of the islands themselves. But
unfortunately In their zeal to prevent
the islands from being improperly ex
plotted they took measures Of sucn Sc.
verify as to seriously, and in some re-
spects Vitally, to hamper and retard
the development of the islands. There
is nothing that the islands need more
than to have their great natural re
sources developed, and these resources
an be developed only by the abundant
use of apital, which, of course, will not
be put into them unless on terms suf
ficiently advantageous to offer pros
poets of good remuneration. We have
made the terms not merely hard, but
often prohlbitory, with the result that
American capital goes into foreign
countries, like Mexico, and there used
with immense advantage to the coun
try in its development, while it can not
go into our own possessions or be USED
to develop the lands under our owr
flag. The chief sufferers by this state
of things are the people of the islands
themselves.
1t is impossible too strongly to in
sist upon what ought to be the patent
fact that it is not only in the interest
of the people of wealth themselves, but
in our interest, in the interest of tae
public as whole, that they should be
treated fairly and Justly; that if they
show exceptional business ability they
should be given exceptional rewart
for that ability. The tissues of our in
dustrial fabric are interviewer in such
complex fashion that what strengthens
or weakens part also strengthens OF
Weakens the whole. If we penalize
industry we will ourselves in the ent
have to pay a considerable part of the
penalty. If we make conditions such
that the men of exceptional ability are
able to secure marked benefits by the
exercise of that ability, then we shall
ourselves benefit somewhat 1t is om
interest no less than our duty to treat
them fairly, On the other hand, it is
no less their interest to treat us fair.
Jy-by "us" | mean the great body ol
the people, the men of moderate OF
small fortunes, the farmers, the wage.
workers, the smaller business men and
professional men. The man of great
means who achieves fortune by crook.
ed methods does wrong to the whole
body polite, But he not merely doel
wrong to, he becomes a source Of i'm.
minent danger to, other men of great
means; for his ill-worn success tends
to arouse a feeling of resentment
which, if it becomes infiamed, fails to
differentiate between the men OF
wealth, who nave done decently and
the men of wealth who have not done