New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1908-04-28


CORPORATION REGULATION NEEDED.
The measures advocate are in the interest
| both of decent corporations and OF laW-aDioiile
| labor unions They are. moreover, pre-eminent-
ly in the interest Of the public, FOR IN my Juus
| ment the American people have definitely maue
up their minds that the days of the reign OF the
great law-defying and -evading corporations
| are over, and that from this time on the mlghty
organizations of capital necessary for the trans
| action of business under modern conditions
| while encouraged so long as they act honestly
| in the interest OF the general public are 10
| be subjected to careful supervision and regula-
! tfon of kind effective to insure their act
| ing in the interest of the people as whole
| Allegations often made tc the effect that
| there is real need for these laws looking 10
the more effective control Of the great corpora
1 TONS upon the ground that they will do their
| work well without such control. l call your at
| tention to the accompanying copy of report just
submitted by Mr.. Nathan Matthews. chairman
| of the Finance Commission. to the Mayor and
| City Council of Boston, relating TO certain eFll
practices of various corporations which nave
been bidders for furnishing to the city iron and
steel This report shows that there nave peeh
extensive combinations formed among the Farl-
Gus corporations which have business with the
city of Boston, including, for instance, a care
fully planned combination embracing practically
all the firms and corporations engaged in struet-
ural steel work in New England. This COmol-
nation included substantially all the local con-
Germs. and many of the largest corporations IN
the United States, engaged In manufacturing or
furnishing structural steel for use in any part
of New England it affected the states, the cities
and towns, the railroads and street railways
| iron steel for any purpose In that section OF
the country. AS regards the city of Boston, the
combination resulted In parcelling out the work
by collusive bids, plainly dishonest and support
ed by false aflrmations. In its conclusion the
commission recommends as follows: .,oaa
and transactions would seem snperfuous: but
:hey We're defended at the public hearing Of the
tirey proper incidents of business life. and
some of the largest industrial corporations that
the world has ever known. the commission deems
The commission disIikes to believe that these
practices are as alleged estabishsd by me see d
itself. If unchallenged, amounts to grave
accusation against the honesty of present business
To answer an invitation for public or private
bids. but What in reality are cousiye figures
posely made higher than the bid which Is known '
p piii is an act of plain dishonesty.
afirmations in writing that the bids are submitted
in good faith and without fraud couso git or con- r5
deberate ei fraud I' the SUCCESSFUL bidder the
is ad y N. Of o have made
parties to conspiracy clearly unlawful at the
Where, as in the case of the Boston Agree
number OF the 4St steeI in this
country, including the American Bridge Co1npany
States Steel Corporation have combined together
for the purpose Of raising prices by means OF
coiiusve bids and false representations their con-
duct is not only repusnant to common honesiy, Dul
as the Sherman antitrust law
The commission believes that example should
Boston Agreement" or at least all those VINO In IN
October and November ls' entered IN 5ne luu
and the Brookline street bridge, should be brought
re obssa o grgnf v r The three "
Limitation for participation in these transactions
the commission is so complete that there should
be no difficulty in the governments securing a con-
viction in this case.
I have submitted this report to the Depart
ment OF Justice for thorough investigation and
for action if action should prove practicable
INEVITABLE ACKNOWLEDGEMENTS
Surely such a state of affairs az that above
set forth embassies the need Of further federal
legislation. merely because of the material
benefits such legislation Will secure, but above
ali because this federal action should be part
and a large part of the campaign to waken our
people as a whole TO a lively and effective con-
demnation Of the low standard of morality i'm
piled in such conduct on the part of great bust
ness concerns The first duty Of every man is
provide a livelihood for himself and for those
dependent upon him; it is from every standpoint
desirable that each Of citizens should en-
deaYor by hard work and honorable methods to
secure for him and his such a competence as
Will carry with il the opportunity to enjoy in
reasonable fashion the comforts and refinements
of life: and furthermore, the of great bust |
ness ability who obtains a fortune in upright
fashion inevitably in doing confers a benefit
upon the community as a whole. and is entitled
to reward, to respect and to admiration. But
among the many kinds Of evil, social indus |
trlal ana poLucaI WGlch II Is our duty as
nation sternly TO combat, there is none at the |
same time more base and more dangerous than |
the greed which treats the plain and simple |
rules of honesty with cynical contempt if they |
interfere with making profit; and a nation |
we cannot be held guiltless if condone such |
action The man who breaches hatred of wealth |
honestly acquired, who inculcates envy and jeal- |
ousy and slanderous i'll will toward those OF his |
fellows who by thrift energy and industry have |
become men OF means. is menace to the com
munity. But his counterpart in evil is to be |
found in that particular kind Of multmilOnaire |
who is almost the least envable. and is certainly
one Of the least admirable. Of all our citizens:
a man of whom it has been we'll said that mis- |
face has grown hard and cruel while his body
has grown soft; whose is a fool and his |
daughter foreign princess: whose nominal
pleasures at best those of tasteIess and
extravagant luxury. and whose real delight.
whose real life work is the accumulation and
use of power in its most sordd and least elevat-
ing form. In the chaos of absolutely I'M
restricted commercial individualism under mod |
ern conditions, this is a type that becomes
prominent as inevitably the marauder baron
became prominent in the physical chaos Of the
dark ages We are striving for legislation to
minimize the abuses which give this type its
fourishlng prominence, partly for the sake Of
what can be accomplished by the legislation It
self, and partly because the Legislation marks
our participation in great and stern moral |
movement to bring our ideals and our conduct |
THEODORE ROOSEVELT.
The White House. April 81 1908
The message arrived at the Senate while the
naval bill was still under debate. and Secretary
Latta remained in the Republican cloak room |
until the batteship amendment had been voted |
on. The reading Of the message was undertaken |
at 6:45 o'clock, and after the clerk had read a
Senator Aldrich suggested that the
further reading be deferred until Tomorrow |
Mr.. Long said il had been given to the press
ana "hie the question was being discussed
Mr.. Foraker moved an adjournment which
promptly followed
The keyed up rules. to meet the Democratic
a s1ut |