Presidential addresses and state papers, Volume 2 (of 7)Roosevelt, Theodore
History
Presidential addresses and state papers, Volume 2 (of 7)
Roosevelt, Theodore
Roosevelt, Theodore, 1858-1919; United States -- Politics and government -- 1901-1909
To say that the present system of haphazard license and lack of
supervision and regulation, is the best possible, is absurd. The
men who endeavor to prevent the remedying of real abuses, not only
show callous disregard for the suffering of others, but also weaken
those who are anxious to prevent the adoption of indiscriminate
would-be remedies which would subvert our whole industrial fabric.
The chicanery and the dishonest, even though not technically illegal,
methods through which some great fortunes have been made, are scandals
to our civilization. The man who by swindling or wrongdoing acquires
great wealth for himself at the expense of his fellow, stands as low
morally as any predatory mediæval nobleman and is a more dangerous
member of society. Any law, and any method of construing the law which
will enable the community to punish him, either by taking away his
wealth or by imprisonment, should be welcomed. Of course, such laws
are even more needed in dealing with great corporations or trusts
than with individuals. They are needed quite as much for the sake of
honest corporations as for the sake of the public. The corporation
that manages its affairs honestly has a right to demand protection
against the dishonest corporation. We do not wish to put any burden on
honest corporations. Neither do we wish to put an unnecessary burden
of responsibility on enterprising men for acts which are immaterial;
they should be relieved from such burdens, but held to a rigid
financial accountability for acts that mislead the upright investor or
stockholder, or defraud the public.
The first essential is knowledge of the facts, publicity. Much can be
done at once by amendment of the corporation laws so as to provide for
such publicity as will not work injustice as between business rivals.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account