The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-09-11

| are strong enough IN favor OF enforce
! Ing the law" said Mr.. Thompson, the
tigers are being broken up. especially IL
this true in Macon and Barbour coun-
ties
better it will be for all honest men.
Defamation, except to excite the, at
tention of the appathetic. will not serve
to systematic the formation of COR
porations or to suitably regulate their
conduct ala9
THE business corpora ton, public
and private, has the making of money
as Its excuse for appearing on the
scene of action. 1t has no soul and
the chief responsibility resting on its
| ofhcers from the nature of their sftua-
tlon, is to produce dividends. They cam,
not hold their position unless they dol
Ihey are not expected to contend with.
the board of directors that part or all,
OF the stock is 'watered,' or that the
public needs protection. The peoples
side OF the question must be looked
after by the government; and it should
be done in the same wise and practical
business way that the corporation pro-
tects Its own interest. We should look
squarely at the situation as Ii exists
ana devise such laws as will suppress
the vices, and advance the virtues and
DEMENT'S of corporations.
| God creates man; man creates cor-
porations. Men are equal before the
| law corporations should be also In
order to accomplish it there must he
uniformity of charter powers, privileges
ana lmmunities and also equality of
control and accountability. This can he
brought about only by Congress, which
should provide uniform system of
organization. regulation, supervision
and control. somewhat after the manner
OF national banks. The same integrity
n 20 ion 4
tai. on the faith of which the public
deals, should be exaeted in every case:
ana no Water'$be permitted either at
the start or under the form of an in
crease of the capital stock. Consolida-
lions should be likewise also regulated.
All corporations, public and private
should be subject, at any time. to gov
eminent visitation and inspection; and
should be required, on demand, to make
full and truthful reports of all assets
ana liabilities; and a summary of all
such reports of public corporations
should be published at irregular intre-
walls after the manner of national banks
The detailed reports to government
or public service corporations shouldiibe
open to the reasonable inspection of the
public Violations of the law by dire
tors and other agents against the rights
or the public, or of stockholders, wheth-
er majority or minority. should be
made criminal and severely punished.
No corporation which is unwilling to
so incorporate and to act according to
such reasonable regulations of law,
should be permitted to use the mails or
to do an Interstate business. All others
would be so Insignificant as TO be harm
less. As part of this scheme of orr
ganization. regulation and control a
plan should be included as a part Iof
each charter of public service and in
dustrial corporation that reasonable
compensation to be quickly ascertained
and paid for personal injury and death
In cases of employees. Gentlemen may
make the welkin ring with their elo-
quence over states rights and the beau
tiful system of the administration sof
justice by present methods, but the
injured man, or his surviving family,
as the case may be- would much rather
have the money. a.
THE longer corporate abuses and OPP
pressions are permitted to run tile
more difficult 1t will be to abate and
reduce them to curb. The already rich
promoter will continue. in spite of hub
bub and cry. to 'reorganize' and dump
Watered' stocks and bonds on the pub
lie. The public will continue TO .1i-
gest them and find that in order to
pay dividends and interest on them en-
tortionate tolls must continue to be
eXacted of themselves, for themselves,
the purchasers of such securities The
laws should be for prevention as we'll
as for punishment; and those for pun
ishment should have a care that the
guilty, though they sit high In the
moneyed seats of the mighty, shall,
upon conviction, change their places of
abode for certain inconvenient, fixed
terms of years. Every encouragement
and protection should be thrown around
aggregations of capital engaged in 1e-
Ultimate corporate enterprises; but
they and their managing agents should
be subject to the control of law. We
need not review many recent years of
the history of the democratic party at
large or in this state to realize that
no hope for the people may be INDUCED
in that direction. One wing of the
democratic party persecutes corpora
lions, the other Is in partnership with
them.
THE state of Alabama will continue
to suffer injury from the one wing of
the democratic party or injustice from
the other until that very large and re-
spectacle class which has thought 1t
necessary to vote the democratic tick
ct from habit or for the sake of regu-
larity determines to be free.
I'm concluding | desire to renew my
expression of gratitude for the honor
done me, as l equally appreciate the
expressions of confidence and assur-
ances of support from so many lead
ing citizens of my native state, though
they are members of another party, as
they share with me in the apprehen-
sion of the most unspeakable calamity
to our great state, should the liquor
forces come to dominate 1t under the
guise of electing my opponent to the
high office of governor
IT pledge my most earnest effort to
procure my election and RI elected to
afford satisfaction to each one supports
ing me by my faithfulness to the trust
reposed and by rigid execution of
the laws of our great and growing
state"