Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1907-11-20

eS tndJ make up tnp meat lnuuS-
try: and here in Indiana against
certain concerns in the drug bus
mess; and against certain other
so-called Trusts throughout the
country; but in no case have
these so-called Trusts or big cor
porations been exterminated; in
no case have wages or prices been
affected; in no case, except in mi
nor detail, has anything been
done that could not have been
done as effectually under the
common law that was in exist
ence before the Sherman Act
went into effcct-that could not
he done against individuals as
well as against corporations; and
though, in this respect, perhaps,
the case of the Northern SeCuri-
ties company is an exception,
even in that case, the several rail-
roads that made up the Securities
company Is an exception, even in
that case, the several railroads
that made up the Securities COM
pany are managed now almost
precisely as they were before the
order of dissolution was entered.
IF, then, the enactment of the
Sherman Antitrust Act was in
tended to eXterminate the social
ed Trusts or big corporations, or
to affect wages or prices, mani
testify the Sherman Act has fail
ed. II the entrance of Mr.. Roos-
evelt's Administration upon a Wig
orous enforcement of that law
was intended, as some of his more
radical followers constantly give
out, to eXterminate the so-called
Trusts and big corporations, man
ifestly that feature of Mr.. Roose-
velt's Administration has failed.
The organization of industry into
corporate form does not cease.
Neither wages nor prices arbitrar-
lily change. That much. at least,
has been proven. And the reason
is that an effective industrial
agency to WELD the energies of
mankind, the corporate form, be-
yond any other form, is the most
effective yet discovered. What
government is to mankind politi-
Cally organized, the corporation Is
to modern industry organized.
The beauty Of Judge GrOssCup's pc
bition Is that he does not merely dc
clare the present work a failure an
then offer no scheme of improve
,nent. He has stood before the pee
pie for many years as an advocate c
curing the corporation with homes
regulation, not striving to kill usC
full agent. He considers the sucCeS
of President Roosevelt's Administers
ton to be the preparation of the pull
tic mind for the great practical thin
yet to be accomplished. He the
deals with the wrongs and the metl
cd of righting:
What. then, is the wrong that
lies at the bottom of the popular
disquiet, and what is the work yet
to be done? | can answer that
question in the statement of three
facts. The first of these Is that
not only is the corporation to
modern industry organized what
cally organized, but that as 1t Is
through effective free government
alone that political power is diff
fused among the people, 1t is
through the corporation alone
that the ownership of the indus
tries of the country can ever be
wide-diffused among the people;
for outside the field of agricul'
tural properties, property is not
now held each individual piece
by some individual man; between
the man VINO seeks to own and the
thing to be owned there Is
throughout the industrial field
the state-created intermediary
called the corporation.
THE second fact Is that though
the industrial property of thu
country is not widely diffuset
among the people, the people have
L financial means to bring abou
such diffusion-that 1t is on thei
individual wealth, poured through
the financial streams into Wal
Street, that all the great corpora
tions now chiefly rest.
And the third fact is that tn
peoples lack of ownership in tn
incorporated property of tn
country is not because the me-
and women who have saved some
thing have no wish to set thes
savings at work for somethin
more, nor that the workman an
employe have no wish to Sc
these savings at work for some
thing more, nor that the work