New-York tribune., 1907-06-20
BROWN COMMENCEMENT
JUDGE GROSSCUP TALKS.
Good Word for Corporations s-MGny
Degrees Conferred.

Providence June l9 (Special).-One hundred and
ffty-six young men and women. students al Brown
University received degrees to-day at the close of
their college course. and forty-one received ad-
vanced degrees for study. while upon ten persons
most OF whom have performed distinguished SER
vices Of one nature another, honorary degrees
were conferred.
Foremost among the latter the Rev. DR.
Charles F. Aked, pastor Of the Fifth Avenue Bap-
list Church. New York, 10 whom was awarded the
degree of doctor of divinity Others hOnored were
Dr. George F. Jelly. alenist, Of Massachusetts
Drown, Cd Sc. D; Professor Carl Barus. of
Brown University CWurtzhurg University. 80,
Ii D.. Judge Arthur l. Brown, of the United
States District Court. Providence Drown, 76).
LII D: the Rev. George Hooper Ferris. Phiiadel-
phia Brown, 'sD. D. D; the Rev Howard -.
Grose. Jamaica Plain. Mass. Brown. '76j. d. D.;
Stephen H Arnold. New York. A. NJ. John HOPE
Atlanta Drown, 94. A. NJ; the Rev. Charles g.
Elder. Worcester Brown. ~. D. D. and Professor
Wallace c. Sabine. Boston COho. $50. Sc. D.
One Of the noteworthy features in confectlon
with this commencement was the refusal on the
part Of the Associated Alumni to entertain the
proposition 10 have the charter of the college so
amended strike out all sectarian and denom-
national requirements
Judge Peter s Grosscup OF Chicago; John Barrett
director Of the bureau Of American republics; IhoIn
as Nelson Page. Of Washington; Governor James
H Higgins Of Rhode Island and President Faunce
Stephen o. Edwards Of the class OF ~. was toast
Judge Grosscup's subject was The Every Day
Man and Our Corporation Problem" He said in
Incorporated enterprise is the best method yet
discovered OF welding, for its larger purposes, the
industrial energy ot this age Of Americans; II is
because Of this that the corporation Is mere at
all and il IS because Of this also that the corpora
ton is here TO stay. II is through this state
created intermediary-the corporation-that the
American instinct for saving something and indi
vidually owning something is chiefly driven to
work itse.f out. II is just in this individual in
Sfin
something that the whole cause Of government and
social order has hitherto found its surest guar
antee
The American people have on deposit in banks
and banking institutions nearly Sl30G00goG05.
Of money unemployed for investment directly by
themselves but employed by a comparatively small
borrowing class. This huge deposit nearly equals
their present market prices the value Of all the
railroads of the country put together. It consti-
tutes almost the entire wealth on which the cor
porate business Of the country actually 1t is
the rich men Of the country who own this
wealth. Indeed. were all the banks and savings
societies 20 nquidate al there would inT7le-
diately up in direct possession and ownership
of the people at large so large part Of the
porate securities that the American people could be
said 70 be, in fact The owners OF the property OF
america.
How ought sane men TO meet these conditions?
Should the corporation. for the sake of elec-
ZION tactics. be hawked al from every angle of hui
man disappointment? Should these so-caled lead
ers De followed who think that what it the
human all its life build up can be taken
down IN a day and without a lar: that human
nature is at last released from the sentence In
the sweat Of Thy face shalt thou eat bread?
Has competition been suppressed? II so, II will
be efectuay restored only when the capital of
the country e at the call not Of those who would
suppress competition but of those who would
courage IT,
we should transform the corporation from a
position Of inviting distrust a position that in
Fites the peoples rust In the evolution events
the corporation has become sole trustee over nearly
the whole field that ought invite the individual
interests. the individual hopes And this alone
ought 70 invite ont Of the de,usion that the
character and of a made corporation is
Of no more public concern than the character and
career Of individual The corporation is
mighty agency Of and for the people whose char
acter and career OF the deepest public concern
And the work Of this generation IS 10 raise II
up TO the stature Of the mission II has to perform;
10 make il for the future q trustworthy agency
commanding the confidence Of the future. That
and that alone. is the way OF meeting the
conditions that confront us