The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-02-10
Commissioner of Corporations
i'm Favor of Federal SUPERVISION

iiclty," It hos relied on the moral sense
OF inc american people. and its com
| gently on a business wrong 1t has re-
ported 10 the country, clearly and accu-
TateIy, the operations of great industries
been set forth in such brief and plain
shape as TO be available through the
press pres for the average, citizen. 1t has
| ION that Will protect honest business and
| condemn unfair practices.
| II mas beon pioneer work on n vast
| subject, but the results have shown what
can be done and how TO do IL A great
| awakening has taken place in recent
years as to our business methods. The
bureau does not assert that II has done
anything more than aid in this process
But 1t does contend that the principles
which II has used are the same ones
which have brought about this advance
proved by results that It's methods are are
NJ for broad application. Under the pub
nc concentration thus made possible by
facts plainly stated. great corporate
abuses have been abandoned. A sweeping
system of railroad rate Determinations
rasa mas peen % Voluntarily Cancelled by the. rail.
Gconmercial oppression have diminished
Corporate managers themselves are
frankly advocating more open account
tions are seeking public confdence bv
adopting new policy OF publicity.
Status of the Problem.
The situation Is thus ready for q COM
pIete system where Cd all important
interstate commerce corpora ations shall
regularly make reports to a federal
the further right to verify and extend the
lacts presented, where CD business
transactions OF public interest shall be
made public, safeguarding at the same
time all proper business secrets; where
(l) there will be a permanent meeting
ground for cooperation and adjustment
terests; and (5) whereby those corpora
tlons that deal fairly and openly shall |
correspondingly acquire public confidence |
and support.
The exact form of this system Is Of H. |
Tie Importance, The information must be |
had for the primary purposes of the gov |
eTnment and the citizen. Cooperation |
also must be had; publicity should, as fa,
as possible be voluntary, Corporate |
managers are recognizing the value OF |
government publicity. To profit by this
must provide for cooperation. Prosecu
tion Is indeed necessary TO destroy unfair
methods. but II should be reserved as the
NAL instrument,
Teh bureau has proved the practical
Vaiue OF CO. operation. In 1908 ii pointed
New York and New Orleans cotton ex
changes, Each exchange at once offered
10 CONFER with the commissioner, AS a
leans exchange adopted. by a practicaliv
unanimous vote. the entire recomnenda
lions of the bureau. This far-reachine
various interests in that great staple. was
secured simply by publicity and voIun-
Iary cooperation.
In short. our great interstate Industries
must come under permanent national SUI
perVlslon. The bureau has proved that
his can be secured in a rational and eff
IGt,ve icit,, va way, a system Of practical pub
'equlsite Tor all wise measures, reliable
information. 1t will involve no drastic
l,ction. II Viii, indeed, forestall such ac-
ION II VIII bring together the govern |
nent and the corporate manager in con-
erenoe and cooperation, which alone
an an serve to adjust continuously the COM J
'leN and changing relationship between
'ur business forces and the public well
are. 1t will direct against business evils i.
ne ne oXerwheimng force of public opin- , +,
ectVe penal law where prosecution is
Iecessary. Such publicity will broadly | r
Ieyent wrong beforehand instead of pun
shng isolated cases afterwards. 1t will |
emove unjust prejudice: 1t will improve
ne standing OF our corporate securities
9th at home and abroad; 1t will tend to-
'ard more open and more uniform corpo-
ate accounting. Finally, 1t will help 10 |
i've our business machinery that founda-
m ION H Of fairness and openness and public
oniidence which it must have II It is
be a permanent factor in our national n
dvance. II
Work of the Bureau
The total appropriations OF the bureau
Or the fiscal year ended June 80 1909
ere S2dI. 100 The number of employees
n that date was i'll
on December II. 1908. at the request
the chairman of the committee on n
avs and means of the house OF repre-
and under the instruction of
he president. the bureau furnished that
'mmittee, in connection with It's pend n
y hearings on the proposed tariff bill, n
I'm statement as TO the costs. prices
nd profits connected with the production n
standard rails for the years 1902 to II
no. inclusive. On December II 1905, II
le bureau; In response TO Il similar re- II
lest furnished 10 the chalrman OF tbe II
lo committee statement as 10 the n