New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-02-10
14TLON TO CONTROL
ru SYSTEM URGED
roP CORPORATIONS
co,,, missioner Smith Would
pyt Interstate Industries I'm
DIR Federal Supervisor

mr. tut '"'
-.-s-ireton Feb -''-T
.-5-sr-ies must come lloe'
stsle -.:,-,..1 supervision says me- oel
rem c--,-b. Commissioner OF 70. po'
A7oA : his annual report. Hlsde PUBLIC II
rrht - saws IS ready fer
l1s z,-s-z-7 where al lI1lpoI'all' III
commerce corporations snali reg u
~enorJs 10 feoeral a5eIloS
laTA - agency shall have the tu7lheI
T7s' ,-s-ffv and extend me tacts pre-
TE-' there business Transactions O.
sza.s-' ..s-asr shall be made PUBIC Sale-
F-o-'c e. ne same time all proper o1sl-
sla.--- where there viii be q peTlla-
rsss 80 ground for cooperation and
TEL 1,atu-een the government aI1c
sc5-s.--- .--s-ests. and whereby those cor
7as-s- hat deal fairly and openly sf2all
aors'O-- =s,z7v acquire public commence
nd sr77ort -,,
-rr GREAT BUSINESS PRobLf1A
n ne place OF the corporation
20 business. Mr.. Smith says
i s--a-ae- Of this generation
TIE GesseC -o--rSI Of is dominant com
Les - .--,eS The issue : mora r.
7lero-a- s.se-l- 0.-- American ideal o. eGl@i
'.7,-I-v -.-5e- The law II IS TlLat-S[--,
c5-al- = r----g--e depends the u-lllllaAF
a----.s---- ~ ---~ business system ..z
-----,7-s--u- has become ne dSCSsSyee-
----,-a-v for handling these forces = - =
s--i=SisT creature o. ne COM 80
t5e - ---a- II great powers ana e
- ---- -e-~Tzi--ed 10 me lilt1 : lGs s4
- Lz,e made L Effective " g
--e-a i -zua bic q sinister L-lS-Se-
- -o-7C-z non has colcell--.eLC, s-s d,
- ---r------~e--Ezl power Il the hanos @
- nan A. he same t5-ne = ms $500
- ---s,~z- -espOrs ioIllry Tor me pTope.
-1e-- 2 - -,-v-er sense Of personal
-cS-.--5-- "a ne community becomes SUI
s-rAE n vzs- corporate elIlles- .-.-,---.
--l-r-r ---ses call Ter some res g. 80
80 -zke the place q the org Pc 500 80
$500 Government supervision q 10
--LF;-5-T o. corporations must be InaI SUI
.e-s,e ...,. ..,,or Nv The
s.5s-sr govern -ner- Is imperative inc. - -
-r--1S-5--e5 power and duty X TeSL-e-7
interstate commerce ne -eaE5 51-,7=-- 9-a
- = he only adequate aCthorllE. &c
"a ~ urinary motives Tor is c-e 71
- = national control OF naNoi-a-
s-ss-esS Those directing our So 80
e------s have deliberately naLo--a--Ae-
+-e- II size and scope iheE ca7l1--- CANE -,
z--E-- -h4v themselves have -7laQe
.,ase=-v They have made thslT blsl-
-sSz4s --1-v governmental n I.le-- 49, -,
-.Ez -ar-rs Trey cannot now lellE
.,s---e government Is concerned t-eTeLl-
= --,s-Sszr Of the nation : Vel-3It : 80
-.----er- must see 70 i mat the ordinary
e5-5s - -7--- and fairness which re
s--sir OFT individual C1-Ize-lS, e-laH 60 y
- - on great modern businesses
I must make sure tEal ne -, ss.-1-e7
--7-z-- Of re- country sla- D pLeSsl -
s-o- =--r misuse IS would ulIirnately &c
So --.---l- re pr-esr OF Corporations the
..zz-z- Government has deliberately taken
--z fair user o. CUR COM
- forces TIE instrument Of the
80 IN - work -aS been 's--l--ellL pun
800 r has - ed on the mora >t-!i5S
- s--z---z- ~e7-Ee and its competing
.--ez amen concentrated lnreLllSeLllIE ~o-l d
.--5-,a-- ---1-z Z has reported 70 me
re----y. clearly ana e----- q - - - -z-f
r-s-i-ve or great Industries BUSINESS rs
.-= --a5- meaning have been SCI 1orlh n
z---- --=[ a-5 pain shape as 70 Dc 80.
ana t--o-EL ira press TOT me $3.50; $3.50
-s---s- = Las thus evoked JnaI ille- ilS--l-
7u1.i- opinion hat VIII P1oLeS.- LLc--'S,-
e,-eze and condemn unfair practlces-
VALUE OF PUBLICITY
TIE exact f---- Of the system OF gov
s--7-er- control IS Of little Importance, me
Co717alssaener saws, adding.
TIE Information must r. 1ad fer the
------s--- -----ozz5 n the government and
- 1---zz- cooperation also must De
rad publicity Slo--G as Tar - poSsloie D
-r'--lz--- Corporate managers are recog-
ming value q government S4DlltA-s-
n ---=- r-- ms new spirit. the system
r supervision must provide toT co-of'e- q
rfo-. Prosecution i indeed necessary 70
Destroy unfair methods. blL Il should ne
reserved -1e .sS- resort ralLeC -L6i-
80 as --H normal instrument
system - practical publicity. Win CO
operation Ulli obtain that requisite 1Qr
Al WISE measures. reliable L1-Orrratlon- II
al involve no drastic action II viii n
6e@5 -c-=S-aL such action i vii BRING
:lEe--e- me government and me cor
r1-atz manager II conference and coop
grafton --rirn alone can serve 10 ADJUST
c0r-s--o-s[- The complex and cna1glne re-
ia-tozS-t- between OUT business forces and
the pubic welfare. L viii direct against
Business evils the oZerv- neiT1l1g force o
p-rI5- c-5-iC-. 7 VIII be hacked oE ana
max effective penal Law where proSecu-
Ion IS necessary. Such publicity VIII
-rosE-- prevent wrong beforehand. instead
oT Furnishing isolated cases a-terTyaTC- Il
~ remove unjust prejudice Il VIII m
Prove --e standing % or corporate SscLTi-
t-eS. -0-- z- home and broad Z VIII Iefl1
f---z-- more Cpsu zro more uniform cor
-...-a-e accounting Finally. Il viii help 10
E--e c-- business machinery that tolroe-
roc ~ fairness and openness and pubic
.cri5s1~z which II must have 4 i Is 10 ne
permanent factor IN our national ad-
vance
TIE Commissioner closes his report with
review o. -rr work o. his bureau IN 1913