Morris tribune., 1907-01-26
JUDGE dposscup ON CORPORATIONS.

The distinguished urist Mr.. Grosscup, of
Chicago, recently delivered a lecture at Spring
field, Ohio, on the subject Corporations The
Judge always handles his themes in clear and
interesting manner and it is a pleasure to read
his speeches as it also no doubt is to hear them
From Judge Grosscups Springfield speech there
is much to be learned, he looks at conditions in
a broad statesman-like manner and suggests
remedies worthy Of the careful consideration OF
all. The following short extract from the
speech gives idea of the judges way OF look
ing at the corporation problem:
"For the man who plants the acorn, then
trains and protects the tiny shoot into symme-
try beauty, and the strength of the forest giant
[ have nothing but the profoundest respect.
The man whom God has endowed with gifts to
start and develop an industry into a great in
stitution that gives work and livelihood to thous-
ands of his followmen; the man who uses those
gifts thus honorably and reaps an honest har-
vest of wealth out of his industry has my adj
miratiou, my sincerest regard. But for the man
who forms corporation built knowingly and
purposeiy on fictitious foundation, who floats
his bonds, waters his stock, creates gilt-edged
prices on his stocks for the deliberate purpose
of robbing his INNOCENT felowmen to his own
personal advantage, for that man [ have moth
ing but contempt: hate him. And have al
most come to hate the government that allows
justifes-a man in doing that.
IL am an enemy, however of corporations.
We are living in an age of corporations. What
we need is simply government control, careful
IF tIa ifS
birth on through it's growth and into useful
manhood
GA generation ago were an agricultural
people. This is no longer true of Today
Of our people get their living out of
the manufacturing industries of the country
and draw their pay from corporation treasures.
In 1900 our agricultural industries, including
land, stock, farming implements and everything
essential to carrying that industry, was
valued at sixteen billions of dollars. In the
same year our manufacturing industries were
valued at twenty-five billions. In the two
decades of the last century this great change
took place that turned from agricultural
people to manufact uring nation. Ou1 atten-
ton and wealth began to turn toward the
manufacturing industries and thus toward in
corpated industries Latest statistics show that
in given period our population increased %
per cent; in the same period the wealth of the
country increased 80 per cent; hut in that same
period the average per-capita wealth of the
country only increased little than per
cent while the increase in our corporate wealth
was 500 per cent.
"Now, why this flowing of the wealth of the
country toward the treasures of corporations?
Why this indsposition the part of the in
dvidual to do his own investing? Why does
the average individual today prefer to let some
corporation handle his savings rather than
make his own independent investment of it
and prosper? Are they gradually losing that
desire for indepen lence that characterized
their fathers? Are they ceasing to be a liberty
loving people7 [ think not. But here is the
explanation: Through the dishonesty of soul
less corporations, allowed to be soulless by the
state, our people have been so mercilessly rob
bed of their earnings that they have lost heart
and have ceased to seek safe investment for
their surplus earnings, They now plac
ing that surplus in savings banks and tile
banks are loanng it to corporations for invest
ment.
Our forefathers laid down for them selves
and their prosperity three great propositions
III the forming of this republic (a) impair
tial general distribution of liberty; (b) i'm
partial general distribution of education; and (c)
an al General distribution If