The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1906-12-20

NEW YORK, Dee. lS.-Chancellor
Day of Syracuse university. whose cham
pionShip of John II. Rockefeller and
Standard Oil was widely quoted con
tributon to current political discussions
continues to dcnounce warmly the move.
ment for legislative control of aggrega-
tons of wealth.
Sees "Millionairephobia."
This movement he terms ''millionaire-
phobia." In the forthcoming issue of
Lesie's Weekly he says:
For some time we have been in the grip
of this mighty Spasm over corporate wealth
phrases are from high sources. All our
national ills are being stated in this for
mula: Down with the rich. Puncture the
swollen fortunes; Make the rich poor and
all the poor will be rich Destroy the
corporations, hamper them, ohStruCt them.
Sue them in the courts. ASSail them IN the
press Tie the strings of the Liliputians to
them IN Congress and bind them, aud tue
individual can have chance.
Make the returns of great businesses sui
ncicntly small and uncertain by, petty leg
shall not be troubled by the genius Of Il
Rockefeller a Hill, Morgan, u Carnegie,
an Armour, or a Swift. The little mon
manning to be done. 1t Is crime FOR sey.
eral men to have developed the power of
giving employment TO $1,000 or 10000
men.
Salaries Have Swollen, Too
Fortunes are not the only things that
have been swollen, DR.. Day declares,
but salaries and wages as well, while
hours of labor have shrunk. which is
another way of swelling wages.
lie says that the men who would re
dUcc these fortunes had nothing to do
with swelling them, and could not man
age them if they had them; that those
who are Chattering about predatory
wealth would not refuse to take over
corporation stock even in Rockefeller
properties. Destructive regulation should
be preceded by government ownership,
then if the government owned the prop
erty it is proposed to supervise we can
take the consequences of Our blundcr-
ing.
Courts Are inundated.
He adds "probably no men in this
country are more disqualified for the
control and supervision Of the corpora
tiouS or swollen fortunes than the ma
jority of legislators. Any proposition
from that source TO supervise and con
troll the wealth Of the land is Il gigantic
piece of impcrtiPnce that to coming gen
crationS will be Incredible lie con
tinucs:
Courts Of justice are dragooncd into sub
scrycncy to executive authority, men being
condemned without conviction ana told to
clear themselves after they are condemned
If they want mercy. Commerce. traffic
transportation, manufacture. are placed I'M
der espionage and hailed before the courts
and threatened with regulation by social
tstic law until men no longer know what
property is or the rights of business as
once interpreted by those principles which
are supposed to have been established by
the wisdom Of the centuries.
History Will Shame Us.
| predict that We are passing through an
epoch that will stand in future times to our
everlasting disgrace and shame. We are
phcnomenally blessed by Providence We
are steadicd by the calm confidence and sig
nal ability of the greatest men ever known
in the commercial world But if this mania
continues 1t is not far on to crash that
will carry down all confidence confuse all
property rights block the wheels of all
progress and wreck not only the million
aires fortune, but the laborcr's cottage.
The dcmand of the hour is the control of
the controller Swollen fortunes are n thou
sandfold less dangerous tC our land and
fhln Han, a