Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-07-13

tested, declaring that they were per-
fectly satisfied with existing rates. and
that the company which supplied the
service had given fair consideration TO
complaints and had voluntarily given
reductions; and that. when they con
sidered further reductions justified,
they would make the application them
selves. They added that they wished
to encourage the investment of CAPT
tai by fair treatment and not to fright
en- it of by denying affair income. The
action of the council, in consequence
of the protest was rescinded.
In commenting on this editorial1y,
the Portland Oregonian said:
THE attitude of the people in this
case received hearty approval from
the newspapers of Lewiston and Boise,
which pointed out that stagnatiOn in
development of Idaho, as other states
in the Pacific northwest, is due TO the
excuses TO WHICH regulation and tax
alton of corporations have been car
ried. Being denied a fair return on
their capital, investors have black
listed these states. and the people
suffer through lack> of development
With the general establishment by
nation and states of commissions with
full power TO regulate the charges and
practice of public service corporations,
the reason for public hostility to these
corporations has been removed. The
only reasons for this hostility which
ever existed were the speculation,
overcapitalizatiOn, extoTtion, Oppres-
sion, secret and corrupt interference
in politics. which they formerly prac-
ticed. Public regulation has practi-
cally done away with these evils
Direct legislation in the Pacific
states has made corporations power
less in politics except SO far as they,
alike with other citizens, appeal open
ly to the peoples reason and sense Of
justice. Corporations generally have
accepted this new situation. They
frankly submit to regulation and &C
cept their position as public servants.
Fair dealing by the corporations
having been assured, justice and the
public interest require fair dealing by
the public toward corporations. The
mere fact that they are corporations
does not excuse denial of fair treat
ment. for, after all, corporations are
simply aggregatiOns of individuals who
have invested their money in public
service. The public interest requires
fair treatment. for the operations of
corporations are the only practicable
means by which large enterprises for
development of the country can be car
ried out If by being denied adequate
rates or by excessive taxation, cor
pOrations are prevented from earning
fair profit, capitalists will not buy
their securities, will invest their
money elsewhere, and development of
the country will be pTeVented or ser
iOusIy retarded. Capital is free to go
anywhere it pIeases; if it does not like
the terms we offer, it will not accept |
our opportunities for investment.
1T is high time that the people Of
Oregon. as well as other Pacific states, I
changed their attitude toward corpOr-
ations to accord with the changed at
titude of corporations toward them. /
Prosperity in the east is creating a /.
vast supply Of new capital. 1t viii /
come here if we turn a deaf ear to /
schemers like the man who made the .
proposition to Lewiston. The anti |
corporation cry will soon die If the .
politicians fiT@l it is unpopular. If we
continue TO heed it, this new capital /
will go to other states and other cOun-
tries. 1t does not need to come here. I
The United States now has practically /
the only supply of capital available for I
the whole world. and the investor VIII [
put it anywhere in the United States, /
Europe. South America. or other cOun- /
tries where he can get good interest /
and security. We can get it if we offer /
the same attractions. We need enter (
tain no fear that, if it comes, it will be 1
used to Cypress US. We are able TO /
limit it's profits to a fair return on the |
actual cash investment and to pro- /
tect ourselves against any injustice
Let US silence the demagogues and in
vite capital to come in by giving it
square deal"