The Marion daily mirror. (Marion, Ohio) 1892-1912, 1910-08-31

including q physical valuation OF the
property.
This physical valuation is not need.
cd OF at least is Very rarely needed
for fixing rates. but 1t Is needed as the
basis of honest capitalization.
We have come to recognize that fran
chises shouIdSnever be granted except
for limited time and never without
proper provision for compensation TO
the public. 1t Is my personal belief
that the saiiie kind and degree Of con-
troll and supervision which should be
exercised over public service corpora
tlons should be extended also to com
biDations which control necessaries OF
life, such as meat. oil aud coal. or
= which deal In them on au important
scale.
believe that the officers and espe-
cially the directors of corporations
should he held personally responsible
when any corporation breaks the law.
Combinations In Industry are the re-
suit of an imperative economic law
which cannot be repealed by political
legislation The effort at prohibiting
all combination has substantially fall
ed The wcy out lies not In attempt
ing TO prevent such combinations. but
In completely controlling them In the
interest of the public welfare.
For that purpose the federal bureau
OF corporations Is an agency OF the first
Importance. Its power and therefore
It's efficiency. as well as that OF the In.
terstate commerce commission, should
be largely increased.
We have right to expect from the
bureau NJ corporations and from the
Interstate commerce commission q
very high grade vt public service. We
should be sure of the proper conduct
of Interstate railways and the proper
management OF Interstate business as
we are now sure OF the conduct and
management of the national banks,
aud we should have as effective super
vision In Que case as In the other.
The Hepburn net and the amend.
ment % that act In the shape In which
1t finally passed congress nt the last
session represent long step In ad.
vance. and we must go yet further.
Influence Of Special interests.
There is II widespread belief among
our people that under the methods OF
making tariffs which have hitherto OBJ
tanned the special Interests are too In
huental Probably this IL true OF botl
the big interests and the little Inter
ests. These methods have put n pre-
MUM on selllshness, and naturally the
selfish big interests have got more
than the selfish small interests. The
duty df congress is 10 provide Il meth
I'd by which the interest Of the whole
people shall be all that receives con.
sidcratlon.
To this end there must be an expert
tariff commission wholly removed from
the possibility of political pressure ol
Of improper business influence.
Such commission can find out the
real difference between the cost OF
productions which Is mainly the diff
ference of labor cost here and abroad
As fast as It's recommendations are
made ] believe IN revising one schetl
ule at Il time. \ general revision OF
he tariff almost inevitably leads to
log rolling and the subordination OF
the general public interest to local and
special interests.
The absence Of effective state and
especially national restraint upon un'
fair money getting has tended to
create II small class of enormously
wealthy and economically powerful
men whose chief object is to hold and
increase their power.
The prime need is to change the
conditions which enable these men to
accumulate power which II Is not for
the general welfare that they should
hold or exercise.
We grudge no man a fortune which
represents his own power and sagacity
when exercised with entire regard to
the welfare 0f his fellows. But the
fortune must be honorably obtained
and well used. II Is not even enough
that 1t should have been gained with
out doing damage to the community.
We should permit 1t 10 be gained
only SO long as the gaining represents
benefit to the community. This, !
know, Implies policy OF a far more
active governmental interference with
social and economic conditions in this
country than we have yet had, but ]
think we have got to face the fact that
such an Increase In governmental con.
troll Is now necessary.