And State Papers 543 



their enterprises the capital of the public, they shall 

 do so upon absolutely truthful representations as to 

 the value of the property in which the capital is to 

 be invested. Corporations engaged in interstate 

 commerce should be regulated if they are found to 

 exercise a license working to the public injury. It 

 should be as much the aim of those who seek for 

 social betterment to rid the business world of crimes 

 of cunning as to rid the entire body politic of crimes 

 of violence. Great corporations exist only because 

 they are created and safe-guarded by our institu- 

 tions; and it is therefore our right and our duty to 

 see that they work in harmony with these insti- 

 tutions. 



The first essential in determining how to deal 

 with the great industrial combinations is knowledge 

 of the facts publicity. In the interest of the public, 

 the government should have the right to inspect 

 and examine the workings of the great corporations 

 engaged in interstate business. Publicity is the 

 only sure remedy which we can now invoke. What 

 further remedies are needed in the way of govern- 

 mental regulation, or taxation, can only be deter- 

 mined after publicity has been obtained, by process 

 of law, and in the course of administration. The 

 first requisite is knowledge, full and complete 

 knowledge which may be made public to the world. 



Artificial bodies, such as corporations and joint 

 stock or other associations, depending upon any 

 statutory law for their existence or privileges, should 

 be subject to proper governmental supervision, and 



