Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1907-08-20

"N'Vht Vph'Ioi lnan AT present over
the businC IS use OF those vast for
tunes chioLy corporate. which are
used (as n. ter modern conditions
they almos, In, ,allably are) in inter
state business. When the Constitu
ton was create mono OF the condi-
tion of modern business existed.
They are WHO'LL lcm ana We must
create new agencies to deal effective
ly with them. There is no objection
IN the mii Is Of tbs eoplc TO any
man earning any amount OF money
II ne does II honestly and fairly. IL
ne gets II as the result OF special
skill and enterprise. as a reward of
ample service actually rendered Rut
there Is growing determination
that no man shall amass a great
fortune by special privilege by chi
canery and wrong-doing. so far as n
is In the power of legislation to
prevent; and that the fortune when
amassed shall not have business
use that is antisocial.
STATE LEGISLATION MADE
QUATE TO CONTROL COR
PORATIoNS.
Most large corporations do bus-
mess that is not confined to any one
state. Experience has shown that
the effort 10 control these corpora-
tions by mere state action can not
produce wholesome results. In most
cases such EFFORT fairs TO correct the
real abuses of which the corporation
Is or may be guilty; while in other
cases the effort is apt to cause eth
er hardship TO the corporation itself
or else hardship TO neigbborjnR
states which have not tried 10 gran
PIE with the problem I'm the same
manner. and OF course we must ne
as scrupulous 10 safeguard the rights
.of the corporations as to exact from
them IN roturn a fun measure or
Justice 10 the public.
BELIEVES ~ NATIONAL INCOR-
PORATION LAW.
] believe In a national incorpora-
lion law for corporations engaged I'm
Interstate business. believe. fur
thermore. that the need for action is
most pressing as regards hose cor
porations which, because they are
common carriers exercise a quasi
public function: and which can be
completely controlled. In all respects
by the Federal Government by the
exercise OF the power conferred un-
der the interstate commerce clause.
and. " necessary, under the post
road clause. Of the Constitution
During the last few years we have
taken marked strides I'm advance
along the road Of proper regulation
y these railroad corporations. but
we must not stop I'm the work. The
National Government should exer-
Else over them a similar supervision
snd control TO that which It exer-
Uses over national banks
In dealing with any totally nov
got Of conditions there must AZ The
outset be hesitation and experiment
Such has been our experience i'm
lealing with the enormous concen-
tration Of capital employed IN inter
state business
Almost every big business concern
is engaged in interstate commerce
and such a concern must not be- al.
lowed by q dexterous shifting of p,
sition. as has been too often the case
in the past to escape thereby an r..
3ponsibility either to state or 10 ma
ton The American people became
/ FIRMLY convinced Of the need OF con
troll over these great aggrcgations of
\ Icapital especially whore they had q
ImonopOlistic tendency, before they
became quite clear as 10 the proper
/ way Of achieving the control
Through their Representatives I'm
congress they tried two remcdic
| "hich we're 10 large degree az
leaet as interpreted by The courts
contradictory
The first law the so-called sher.
Imam law has filled n useful place
for 80 bridges over the transition
period until the American peori,
shall definitely make up 90.
mind tnat 80 will exercise over th,
great corporations that thorough.
going and radical control which % q.
certain ultimately 20 find necessary
The principle OF the Sherman iav
so far as 80 prohibits combination.
which whether because Of their ex