Essex County herald. [volume] (Guildhall, Vt.) 1873-1964, 1907-10-25

| Osnoer That In the Current <esi Fof
Reform the Dsmasosues and the So
eiaIists May Get the Upper Hand and
Garry Legislation Too Fsr-Fsish In
the American People.
In a recent issue the Citizens Bull
i,tin Of Cincinnati gives a series OF ex-
tacts from the most recent addresses
OF Secretary Taft. After taking up In
some detail the evils that have result
ed from the rapid development of cor
porations during the past few years
Mr. Taft says:
without defending mitigating or In
any way justifying the evils | have
described, 1t certainly can he said that
they were the outgrowth OF the enor-
nous expansion OF business and OF
capital involved In the spreading bust
ness OF the country and that. while
they are to be deplored and to be
stamped out, IL would he the utmost
folly to initiate and carry through
legislation which instead of remedying
the evil shall kill the enterprise and
Investments which have gone on apace
to make this nation the great center OF
Industry and production of the world.
And the danger now Is that In the zeal
for reform demagogues. Socialists and
enemies OF society may be given an
opportunity to carry Oh legislation to
such an extreme as permanently to
hamper the business growth OF the
country.
mo injustice reacts so quickly as
Injustice to capital, for capital can pro-
tect itself, can stand a loss aud with
draw and leave the community from
which II fees In a condition of help
lessness that It will take years TO over
come. While this Is the danger from
the awakened public conscience on the
subject OF business integrity, let us
not fail to rejoice In the enormous ben
eft to the country which is involved in
the existence OF this public conscience,
for 1t was quickened into expression
at a time when the greatest prosperity
prevailed throughout the country,
when lavished wealth made comfort
for more people than ever before and
when that luxury and hunt for pleas
ure which led the Roman empire and
other dynasties OF old TO destruction
It was prophesied would bring about
the same fate for this republic. But
II has not done so. and In the face
Of comfort, luxury and pleasure there
: hnc hn M
enjoying all the prosperity possible
against the abuses and violations of
the trust, and there has arisen n cry
for a higher business morality and a
more sacred care and scruple In the
conduct Of agents and trustees.
Tho Publie's Demands.
ut is becoming more and more GER
tain that the public will insist on
greater publicity in the management
Of these great financial trusts. and
which the great combinations shall
continue and maintain their business.
and greater and greater care and re-
gard for the public with which the
railroad and other transportation COM
panies shall discharge the duties
which, In accepting valuable fran.
chises, they assume to discharge to-
ward the communities In which they
carry on their business.
THE various provisions Of law, the
tribunals and executive machinery by
which these results are to be accom-
plished, will be the duty OF the coming
generation to work out and develop.
The responsibility OF the wielder of
millions of capital which has hereto
fore accompanied his exercise Of pow
er In the business communities. 1t Is
now settled, must have an end, and
the limitation which shall effectually
end 1t Will be dictated by experience
and the statesmanlike acumen of the
coming generation.
such changes cannot be effected in
4 short time. Such changes cannot be
brought about by mere denuncia-
don and indiscriminate condemnation.
whether delivered from stump or
contained in the provisions Of law.
They must and will be fashioned ultl-
mately by the hands of one or many
who shall realize the necessity for
maintaining the institutions Of private
property and the freedom of individ-
ual Initiative, on the one hand, and of
restraining the well recognized abuses
and illegalitles Of the exercise of the
power Of concentrated wealth to
achieve monopoly by duress.
Such regulation Is possible. and It
needs only experience and earnest eff
tort, honest and courageous and expe-
1itious courts, intelligent and fearless
luries, to enforce the regulations which
shall teach those who would otherwise
offend and misuse the power Of con-
rentrated wealth that it is not only
moral and conducive to their happi-
hess, but also profitable to observe the
regulations that the quickened con-
science Of the people has insisted upon
Introducing into the statute book"