History for ready reference, Volume 7 : $b Recent history (1901 to 1910)Larned, J. N. (Josephus Nelson)
History
History for ready reference, Volume 7 : $b Recent history (1901 to 1910)
Larned, J. N. (Josephus Nelson)
History -- Dictionaries
"Those great corporations containing some tendency to
monopoly, which we have grown to speak of rather loosely as
trusts, are the creatures of the State, and the State not only
has the right to control them, but is in duty bound to control
them wherever the need for such control is shown. There is
clearly a need of supervision—need to exercise the power of
regulation on the part of the representatives of the public,
wherever, as in our own country at the present time, business
corporations become so very strong, both for beneficent work
and for work that is not always beneficent. It is idle to say
that there is no need for such supervision. A sufficient
warrant for it is to be found over and over again in any of the
various evils resulting from the present system, or, rather,
lack of system.
"There is in our country a peculiar difficulty in the way of
exercising such supervision and control because of the
peculiar division of governmental power. When the industrial
conditions were simple, very little control was needed, and no
trouble was caused by the doubt as to where power was lodged
under the constitution. Now the conditions are complicated,
and we find it difficult to frame national legislation which
shall be adequate, while as a matter of practical experience
State action has proved entirely insufficient, and in all
human probability cannot or will not be made sufficient, to
meet the needs of the case. Some of our States have excellent
laws—laws which it would be well indeed to have enacted by
the national legislature. But the wide differences in these
laws, even between adjacent States, and the uncertainty of the
power of enforcement result practically in altogether
insufficient control.
Public-domain text, read in full here on John Shaqi.
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