Middlebury register. (Middlebury, Vt.) 1886-1937, 1908-02-07

phenomenal business success must ordi-
narily be based on dishonesty, have dur
ing the last few months made 1t appar-
ent that they have banded together to
work for reaction.
Their endeavor is to overthrow and
discredit all who honestly administer the
law, to prevent any additional legislation
which would check and refrain them,
and to secure il possible freedom from
all restraint which will permit every
INSCRIPTIONS wrongdoer to do what lie
wishes unchecked provided he has
enough money. The only way to coun-
terect the movement in which these men |
are engaged is to make clear to the pub
lie just what they have done in the past
and just what they are seeking to accom-
plish in the present,
The Administration and those who
support its views are not only not en-
gagged in an assault on property, but are
strenuous upholders of the rights of
property. The wise attitude to take is
admirably stated by Governor Fort, of
New j, rsey, in his recent inaugural
address; the principals which he upholds
as regards the State being of course iden-
tical with those which should obtain as
regards the nation.
"Just and fair regulation can only be
objected to by those misconceiving the
rights of the State. The State grants
all corporate powers to its railways and
other public utility corporations, and
may not only modify, but repeal all
charters and privileges it confers. 1t
may, therefore, impose conditions upon
their operation at its pleasure. Of
course in the doing of these things, it
should act wisely and with conserva-
tism, protecting all vested rights of
property and the interests of the inno-
cent holders of the securities of exist
ing quasi.public corporations. Regu.
lation, therefore, upon wise basis of
the operation of these public utilities
companies including the fixing of rates
and public charges, upon complaint and
subject to court review, should be in
trusted to proper board, as well as the
right to regulate the output of stock
and the bonded issues of such corpora
tions.
If this were done, it would inure to
the benefit of the people and the COM
panies, for it would fix the value of such
securities, and act as a guaranty against
their depreciation. Under such law,
the holders of existing securities would
find them protected, and new securities
offered would have the confidence of the
people, because of the guaranty of the
State that they were only issued for ex-
tensions or betterments and upon some
basis of the cost of such extensions or
betterments. 1t is difficult to suggest
any legislation that would give greater
confidence to the public and investors
than wise public utilities bill, and the
mere suggestion of its enactment should
cause this class of security holders TO feel
| 81 hot hnl otr
and that the State was about to aid the
managers of its public benefit and for the
protection of invested capital
CONDUCT THE RIGHT STANDARD.
Under no circumstances would we coun-
tenance attacks upon law.abiding prop
erty or do aught but condemn those
who hold up rich men as being evil men
because of their riches. On the con-
trary, our whole effort is to insist upon
conduct and neither wealth nor property
nor any other class distinction, as being
the proper standard by which to Judge
the actions of men. For the honest man
of great wealth we have hearty regard,
just as we have hearty regard
for the honest politician and honest news
paper. But part of the movement to up
hold honesty must be movement to
We attack only the corrupt men of
wealth, who find in the purchased poll
tician the most efficient instrument of
corruption and in the newspaper
the most efficient defender Of cor
ruption. Our main quarrel is not with
these agents and representatives of the
interests. They derive their chief power
from the great sinister offenders who
stand behind them They are but pup
pets who move as the strings are pulled.
1t is not the puppets, but the strong cum
ming men and the mighty forces working
for evil behind and through the puppets,
with whom we have to deal.
We seek to control law defying wealth;
in the first place to prevent its doing dire
evil to the Republic, and in the next
place to avoid the vindictive and dreadful
radicalism which. if left uncontrolled, 1T is
certain in the end to arouse. Sweeping
attacks upon all property, upon all men
OF means, without regard to whether
they do well or ill, would sound the
attacks become inevitable if decent citi-
zens permit those rich men whose lives
are corrupt and evil to domineer in
swollen pride, unchecked and I'M
hindered, over the destinies of this coun-
try. We act in no vindictive spirit, and
we are no respecters Of persons. If a
labor union does wrong, we oppose it as
firmly as we oppose corporation which
does wrong; and we stand equally stout
ly for the rights of the man of wealth
and for the rights of the wageworker.
We seek to protect the property of
every man who acts honestly, of every
corporation that represents wealth hon.
estly accumulated and honestly used.
! We seek to stop wrongdoing, and we
desire to punish the wrongdoers only
SO far as is necessary to achieve this
end.
There are ample material rewards for
those who serve with fidelity the NAM
mon of unrighteousness; but they are
dearly paid for by the people who permit
fh DIR rapracapfotivaa xuhathar ~, ,,,lE.