The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1907-06-06

prevent building more. But Iowa pro-
ceeded with the task and II resulted, not in
ruin and stagnation, but in increased safe
ty and profit to the honest investor. In
stead of putting roads into the hands OF
receivers, 1t was followed by a prosperity
that rescued many OF them from receiver
ships
To give another illustration from Iowa's
experience, when the national banking
law was amended to allow small banks to
take out national charters, great numbers
of the state banks of that state were re-
organized into national institutions The
investing public was ready to back with
unlimited confidence the institutions on
which the federal government had set the
seal of it's confidence and approval.
All this, my friends, is substantially
what l have said over and over again.
Surely, 1t ought not to be necessary to
say that 1t in no shape or way represents
any hostility to corporations as such. On
the contrary, II means a frank recognition
of the fact that combinations of capital,
like combinations of labor, are a natural
result of modern conditions and of our
national development. AS far as in my
ability lies my endeavor is and will be
to prevent abuse OF power by. either and
to taVor both so long as they do we'll
Blame Where It Belongs.
There has been complaint of some of the
Investigations recently carried on, but
those who complain should put the blame
where 1t belongs-upon the misdeeds which
are done in darkness, and not upon the in
vestigations which brought them to light.
The administration is responsible for turn
ing on the light, but 1t Is not responsible
for what the light showed.
l ask for full power 10 be given the fed
eral government. because no single state
can by legislation effectually cope with
these powerful corporations engaged in
interstate commerce, and, while doing
them full justice, exact from them in re-
turn full justice to others
The conditions OF railroad activity, the
conditions Of our immense Interstate com
merce, are such as to make the central
government alone competent to exercise
full supervision and control
The grave abuses in individual cases Of
railroad management in the past repre-
sent wrongs not merely to the general
public, but, above all, wrongs to fair-deal-
Ing and honest corporations and men of
wealth, because they excite a popular ang-
er and distrust which from the very ma
ture of the case tends to include in the
sweep OF its resentment good and bad
alike. From the standpoint Of the public
l can not too earnestly say that as soon
as the natural and proper resentment
aroused by these abuses becomes tndis-
not merely unwise and unfair but calcu-
lated to defeat the very ends which those
feeling 1t have In view.
No Let-Up In the Hunt.
There has been plenty of dishonest work
by corporations in the past. There will not
be the slightest let-up in the effort to hunt
down and punish every dishonest man.
But the bulk of our business is honestly
0One. In the natural Indignation the peO-
pie feel over the dishonesty. 1t Is all-essen-
tial that they should not lose their heads
and get drawn into an indiscriminate raid
upon all corporations, all people of wealth,
whet ether they do well or i'll. Out of any
such wild movement good will not come,
cannot come, and never has come. On the
contrary, the sureSt way to invite reaction
Is to follow the lead of either demagogue
or visionary in sweeping assault upon
property values and upon public conf
dence, which would work incalculable
damage In the business world, and would
produce such distrust of the agitators that
in the revulsion the distrust would extend
to honest men who, In sincere and sane
fashion, are trying TO remedy the evils.
There can be no question as to the de-
sirability OF doing away with rebates or
any method of favoring one shipper at
the expense of a competitor, and direct
dealing with the rates is sometimes the
be avoided; but where favorltism Is not
alleged, and when the question is nakedly
one of getting a lower rate, 1t must be
remembered that 1t is often possible that
those demanding 1t may be dIametrtcally
opposed in interest to those who demand
a better, safer, and more rapid transporta-
ton service, and higher wages and shorter
hours for employees. If the demand for
more taxes, for higher wages, for shorter
hours for employees, and for lower rates
becomes so excessive as to prevent am
pie and speedy transportation, and to eat
up the legitimate profits; II popular anc
legislative movements take shape so
ill-directed as not only to threaten honest
investment and honest enterprises, but
also to prevent any effort for the better