Year: 1870

"Asn curiosity not unmixed with fear, the


CROWN and development in our midst of


monopoies, corporate and individual. The


tendency to Capitalization is undoubtedly a


product OF modern civilization. The develop


ment Of human ingenuity and skill is con-
atantly putting before the community problems


so gigantic that organized associations Of indi-
,yiduals are necessary to solve them. And it
ID no doubt an essential result Of the working
of the fundamental laws which underlie all


human development that associated effort


should take the place Of individual enterprise


and Garry out the schemes which have proved


too difficult for it. In union there is strength.


This saying has been an axiom since sne
earliest times, and Esop's fable Of tne bundle


Of sticks is an old and familiar wa; Of putting
the long reoognizeeaa nzea truth. Association has
prove" itself of infinite value in all depart
ments OF human effort be the result sought
for ever so remote, the difficulties In the way
ever so insurmouatable. The grand old cathe-
drals OF the Middle Ages, to see which pill
9rms from every land now travel, are the
results Of associations bound together by
religious feeling-a feeling which In its very
nature seeks to fulfil its mission by combined
effort =. '..,~.,..a atA.4,--.'a.ll - -.


! The strength of this feeling and the results
produced by the efforts of bodies of indiyid-
uals bound together by this impulse are daily
shown in the many noble charities which are


he pride and glory Of our land. The laws
which govern society have made it
absolutely unnecessary for man to rely on his
fellows for aid in the furtheranoo of his
designs; society itself is nothing but huge
corporation Incorporated according to the laws
OF nature, and In which we are all stock
holders, Its dividends are peace and pros
perity, protection of life and property, and as
surely a. Its affairs are mismapaged just as
certainly are its profits diminished, If the
laws under which 1t is organized are disobeyed
the punishment Is certain and relentless, and
Instead Of the results we had hoped for we
find insecurity, eistrust and misfortune the
penalties Of disobsdienoe. The necessity as
well as the efficiency Of associat ion is indis-
putable. This being granted, the next step is
ito consider not only the beneficial, but the
possible and probable evil results of the
working Of system of such force. What
strength It has is daily shown by the results of
its operations.


! The lawmakers Of all countries have long
Recognized the mighty power Of corporations
and have devised various means Of keeping
1t within bounds, of restricting the possible
evil that might arise from wrong use of it,
with what result the statute books will show.
From the statute Of ''mortmain" down to the
present day effort after effort has been made,
and for every restriction that has been put
around them the associations have found
corresponding loophole of escape for the exer-
else Of functions that were not contemplated
by the original grantor, and which too often
work for tho disadvantage of the COM
imunity. How often has the old saying
that corporations have no souls proved
true! How often have mon who ind-
vidually are the soul Of honor resorted in
their corporate capacity as directors to all
sorts of jobbery and rascality! Let the secret
history of English and American legislation
he published, and we shall find many man
s'whose word is as good as his bond, indvid-
3ually, mixed up with the most questionable
transactions in his character Of manager of
some corporation which is organized osten-
eibly for the public good. And this is not,
perhaps, the worst feature of it. Legislative
decentralization leads inevitably to national
degradation; 1t is l,grant violation of the
great laws under which society itself is organ
Hzed, and brings inevitably the evils Of national
dishonor and distrust in its train.


! Public opinion is to blame in this. AS a
consequence, perhaps, of the demoralized con-
tdition following such conduct as we have indi-
Icated, such transactions do not receive the
blame they deserve. What in the individual
would be little less than downright thieving is
Sclever lnanciering on the part of number Of
the members Of the very society whose pros
perity depends on upright dealings with each
tpther. The very men who are the most eager
Hn Furnishing individual wrong-doing are the
bnes who are most prominent in corporate
1misdeeds. Good citizens themselves, loving
ehe good name of their country and their State,
phey are the ones who have brought scandal
ton our courts and disgrace on our Legislatures
lhave made bribery and corruption familiar to
our land, until man who holds public posi-
zion is from that very fact alone suspected to
[be dishonest. This is in itself a gigantic
ievil. The material prosperity of any country,
lof any community, is in direct ratio to its pub
Pic morality, its reputation for honesty and
tgood faith. Nothing is more powerful than
money in the present state of society and as
euming Senator Sprague's saying, ''that moth
Fng Is meauer than one million except two mil
tions, we can estimate the power for evil of
bodies welding many millions, and whose
Eoroe Is in direct proportion to the capital at
their disposal. When a great railroad can.