Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-20

applaud us if we did see to it, that
penalties and punishments should
fall, not upon business itself, to It's
confusion and interruption. but upon
the individuals who use the tnstru-
mentslities Of business to do things
which public policy and sound bust
ness practice condemn.
Every act Of business is done At
the command or upon the initiative Of
some ascertainable person or group of
persons. These should be held indi-
vidually responsible, and the punish
ment should fall upon them not upon
the business organization OF which
they make illegal use
1T should be one Of the main OBJ
jects Of our Legislation to divest such
persons OF their corporate cloak and
deal with them as with those who do
not represent their corporations, but
merely by deliberate intention break
the law. Business men the country
through would, ] am sure applaud lis
II we were to take effectual steps o
see that the officers and directors of
great bodies were prevented from
bringing them and the business Of the
country into disrepute and danger.
Menace Of Stockholding.
Other questions remain which viii
need very thoughtful and practical
treatment. Enterprises, in these mod
ern days of great individual fortunes,
are oftentimes interlocked not by be-
ing under the control of the same dl-
rectors, but by the fact that the great
er part OF their corporate stock is
owned by a single person or group Of
persons who are in some way init
mately related in interest. We are
agreed. take It, that holding comma
-. \ IL 100 y
OF the controlling private ownership
OF individuals or actually cooperative
groups of individuals? Shall the pri-
vate owners of capital stock be suf-
fered to be themselves in effect hold
ing companies? We do not wish, ]
suppose. to forbid the purchase OF
stocks by any person who pleases to
buy them in such quantities as he
can afford, in any way arbitrarily 20
limit the sale of stocks to bona Fl i5
purchasers.
Shall we require the owners OF
stock, when their voting power in
several companies which ought to De
independent OF one another would
! constitute actual control. to make
election in which of them will exer-
else their right to vote? This ques-
ton ] venture for your consideration.
Redress for Trust Victims.
There Is another matter in which
impera tive consideration of justice
and fair play suggests thoughtful
remedial action. Not only do many
OF the combinations effected or sought
to be effected in the industrial world
work an injustice upon the public in
| general: they also directly and seri-
ously injure the individuals who are
put out of business in one fair way
or another by the many dislodgins
and exterminating forces Of Combina
| ton.
II hope that we shall agree in Civ
| ing private individuals who claim to
| have been injured by these processes
the right to found their suits for re-
| dress upon the facts and judgments
proved and entered in suits by the
| Government where the Government
| has upon its own initiative sued the
| combinations complained of and won
| its suit, and that the statute of llmi-
| tations shall be suffered to run
against such litigants only from the
! date OF the conclusion of the Gov
ernment's action.
ut is not fair that the private liti-
CANT should be obliged to set up and
esta blish again the facts which the
| Government has proved He can moi
afford, he has not the power to make
use of such processes of inquiry as
the Government has command OF
Thus shall individual justice be done
while the processes of business are
rcctified and squared with the gen
eral conscience.
Program Of Plain Obligations.
II have laid the case before you
no doubt as 1t lies in your own MIND
as it lies in the thought OF the coun'
try What must every candid mar
say of the suggestions | have laid be
fore you, OF the plain obligations o
which I have reminded you? Tha
these are new things for which th'
country is not prepared? No; bu
that they are old things now familiar
and must of course be undertaken i
we are to square our laws with the
thought and desire of the country.
Until these things are done con
sCientious business men the coun
try over will be unsatisfied The,
are in these things our mentors ant
colleagues. We are now about to writ
the additional articles of our consti
tuition of peace, the peace that il
| honor and freedom and prOSperity