The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-08-21
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changes In certain OF our laws, Of
our governmental methods. our
Federal system of government is
based upon the theory OF leaving
10 each community. to each state.
the control over those things which
affect only It's own members, ana
which the people of the locality
themselves can best granple with.
while providing for national regu-
lation in thoss matters which ne
cessarily affect the nation as
whole. 1t seems TO me that such
questions as national sovereignty
and States rights need to be treat
cd not empiricaliy or academicaily
but from the standpoint OF the
interests of the people as q whole.
National sovereignty Is to be up
held IN so far as 1t means the SOW
eighty OF the people used for tho
real and ultimate good of the peu-
pie; and States rights are to be
upheld in so far as they mean the
peoples rights. Especially Is this
true in dealing with the relations
of the people as whole to the
great corporations which are the
Distinguishing feature of modern
business conditions.
Experience has shown that It is
necessary to exercise a far more
efficient control than at present
u oNtT ti3t BusllitSS uct VI A4lpst fGSN
fortunes. chiefly corporate. which
are used Gas under modern condi-
lions they almost invariably are,
in interstate business. When the
Constitution was created none OF
the conditions of modern business
existed. They are wholly new and
we must create new agencies TO
deal effectively With them. There
is nc objection in the minds OF
this people to any mans earning
any amount of money If he does II
honestly and fairly. if he gets IL
as the result OF special skill and
enterprise, as reward of ample
service actually rendered. But
there is Il growing determination
that no rnan shall amass a great
fortune by special privilege, by CHI
canery and wrongdoihg. so far as
il is In the power of legislation to
prevent: and that the fortune when
amasseG shall not have a business
use that is anti-socal. Most large
corporations do a business that is
not confined to any one State. En-
perience has shown that the effort
TO control these corporations by
mere State action cannot produce
wholesome results. In most cases
such effort falls to correct the real
abuses of which the corporation is
or may be guilty; while in other
cases the effort is apt to cause
either hardship to the corporation
itself, or else hardship to neighbor
ing States which have not tried to
grapple with the problem in the
same manner: and OF course we
must be as scrupulous to safe
guard the rights of the corpora
tions as to exact from them in re-
turn full measure of Justice to
the public, ! believe In national
Incorporation law for corporations
engaged In interstate business. ]
believe. furthermore. that the need
for action is most pressing as re-
CARDS those corporations which,
because they are common carriers,
exercise a quasipuhlic function;
and which can be completely con-
trolled, in all respects by the Fed
eral government. by the exercise
OF the power conferred under the
: interstate commerce clause. and, If
necessary, under the post-road
the last few years we have taken
marked strides IN advance along
the road of proper regulation of
these railroad corporations; but we
must not stop in the work. The
national government should exar-
vision and control to that which
u exercises over national banks.
We can do this only by proceed
Ing farther along the lines marked
out by the recent national legisla-
ton.
AS to Interstate Corporations.
In dealing with any totally new
set "f conditions there must at the
outset be hesitation and experi-
nent. Such has been our expert
ence in dealing with the enormous
concentration of capital employed
In interstate business. Not only
the Legislatures. but the courts and
the peoDle need yrad,laIIy IA ha