Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1906-04-21

pie with the problems CONNECTED WITH f6a
amassing OF enormous fortunes and the
use OF those fortunes borh corporate ana
individual. In business. We should dia-
criminate I'm the eharpest way between
fortunes well won and fortunes III won.
between those gained In an incident 10
performing great services 10 the COM
muity as n whole. and those gained In
evil fashion by keeping just within the
limits of mere law honesty. OF course
no amount of charity In spending for
tunes In any way compensates for mis-
conduct in making them. As matter
OF personal conviction. and without pre-
tending to discuss the details or forrnu-
late the system. feel that we shall ulti-
mately have 10 consider the adoption OF
some such scheme as that OF a progress
sive tax on all fortunes. beyond q GER
tain amount. either given IN life or de-
vised OF bequeathed upon death TO any
Individual tax so framed as 10 put
II ont OF the power OF the owner OF one
OF these enormous fortunes TO hand ovey
more than certain amount to any one
individual: the tax. of course 20 be i'm
posed BY the national and not the state
government. Such taxation should. OF
course be aimed merely at the Inherit
ance or transmission IN their entirety Of
these fortunes swollen beyond a.. healthy
limits.
Again. the national government must
in some form exercise supervision over
corporations engaged I'm interstate busl-
ness-and all large corporations are en-
gagged I'm interstate busincss-whether by
license or otherwise. so as to permit US
TO deal with the far-reaChng evils Of
over capitalization. This year we are
making a beginning I'm the direction Of
serious effort 20 settle some OF these eco
homie problems by the railway-rats leg
islation.
The first requisite in the public ser
wants who are TO deal in this shape with
corporations. whether as legislators or as
executives. IS honesty. This honesty can
be no respector OF persons. There can be
no such thing. as unilateral honesty. The
danger is not really from corrupt corpo-
rations; II springs from the corruption
itself. whether exercised for or against
corporations
The men OF wealth who today are try
ing 20 prevent the regulation and control
OF their business in the interest OF the
public by tAc proper government author
tiles viii not succeed. in my Judgment
In checking the progress OF the move
ment But n they ia succeed they
would fnd that they had sown the wiad
and would surely reap the whiri wind. for
they would ultimately provoke the violent
excuses which accompany "a reform com
Ing by convulsion instead OF by steady
and natural growth.
on the other hand the wild preachers
or unrest and discomfort. the wild agi-
tators against the entire existing order.
the men who act Crookcdly. whether be-
cause OF sinister design or from mere
puzzle -headedncss. the men who preach
destruction without proposing any sub
stitute for what they intend TO destroy,
or who propose substitute which would
be far worse than the existing evtls-ali
these men are the most dangerous op-
ponents OF real reform. II they get their
way they viii lead the people into q
deeper pit than any into which they
could fall under the present system. II
they fail TO Eet their way they Will atili
do incalculable harm by provoking the
kind Of reaction. which I'm it's revolt
against tho senscless evil or their teach
Ing, would cnthrone more securely than
ever the very evils which their misguid-
ed followers believe they are attacking.