Daily press. [volume] (Newport News, Va.) 1896-current, 1906-04-15
growth; violent emotionism leads t,
exhaustion.
Problems Must Be Solved.

growth; violent emotionism leads to
exhaustion.
Problems Must Be Solved.
1T is important to this people to
srapple with the problems connected
with the amassing Of enormous for
tunes, both corporate and individual,
in business. We should discriminate
In the sharpest way between fortunes
wellwon and fortunes ill-won; be-
tween those gained as all incident to
performing great services to the COM
munlty as a whole, and those gained
In evil fashion by keeping just within
the limits of mere lawhonesty. Of
course no amount of charity in spend
ing such fortunes in any way com
pensates for misconduct in making
them AS matter of personal con-
viction. and without pretending TO
discuss the details or formulate the
system, | feel that we shall ultimate
y have to consider the adoption Of
some such scheme as that of a pro-
gressive tax on all fortunes. beyond
O certain amount, either given in life
or devised or bequeathcd upon death
to any Individual tax 80 framed as
to put it out of the power of The
owner of one of these enormous for
tunes to hand on more than certain
amount to any one individual; The
tax. of course. to he imposed by the
national and not the State govern
ment. Such taxation should, of course.
be aimed merely at the inheritance or
Transmission in their entirety of those
fortunes swollen beyond all healthy
limits.
Federal Supervision Necessary.
Again. the national government
must in some form exercise supervi-
sion over corporations engaged in in
terstate business-and all large cor.
porations are engaged In interstate
business-whether by license or
otherwise, SO as to permit us to deal
with the far-reaching evils of over
capitalization
This year we are making a begin
ming in the direction of serious effort
to settle some of these economic pro.
blems by the railway-rate legislation.
Such legislation. if SO framed as I
am sure it will be, as to secure def
mite and tangible results, will amount
tc something of itself; and it will
amount to great deal more. in SO Ia
as it is taken as first step in the
direction of a policy of superintehd-
ence and control over corporate wealth
engaged in interstate commerce, this
superintendent and control not to be
exercised in spirit of malevolence
toward the men who have created the
wealth, but with the firm purpose
both to do justice to them and 10 see
that they in their turn do justice to
the public at large.
Honesty First Requisite.
The first requisite in the public
servants who are to deal in this shape
with corporations. whether as legisla-
tors or as executives, is honesty
This honesty can be no respecter of
persons There can be ITO such thing
as unilateral honesty The danger is
not really from corrupt corporations;
it springs from the corruption itself.
whether exercised for or against cor
porations
Men of Wealth Will Not Succeed.
The men of wealth who today are
trying to prevent the regulation and
control of their business in the inter-
est Of the public by the proper gov.
eminent authorities will not succeed,
in my Judgment, in checking the pro-
eress of the movement. But if thew
did succeed they would find that they
had sown the wind and would sur. ly
reap the whirlwind, for they would
ultimately provoke the violent ex-
cesses which accompany reform com
Ing by CONFUSION instead of by steady
and natural growth
On the other hand, the wild preach
ers of unrest and discomfort, the wild
agitatOrs against the entire existing
order, the men who act crookedlJ.
whether because Of sinister design or
from mere puzzle .headedness, the men
who preach destruction without. pro
posing any substitute for what they
intend to destroy. or who propose a
substitute which would be far worse
thHp the existing evils-all these men
arc the most dangerous opponents CT
rtal re itrm. If they get their way
hay will lead the people into deep
er pit man any into which they eoI;d
:nli under the present system. !
they fail to get their way they vii
still dc incalculable harm by pr,vos
ing the ind of reaction, which In X
revolt against the senseless evil {
S.~A.A