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Show FOR AN AMERICAN CORPORATE POLICY Judge Grosscup "Would Have tho Corporation Cor-poration Nationalized and Governed Gov-erned by One Master. DES MOINES. In., April 27. Boforo an audience composed of tho representative mon of the State of Iowa, Judge Peter S, Grosscup of the United States Circuit court delivered an addresa tonight to the Grant club on "Liberty and Corporations." Corpora-tions." Judge Grosscup nald: ' We hear on all sides of danger to tho peoplo from tho great corporations. Tho paramount danger of tho .corporate policy pol-icy prevailing In America, lies not so much in what specific thing a corporation may do. as in the fact that, in lis practical prac-tical operation, that policy excludos from participation in this already wldo and increasing in-creasing field of American property tho ordinary American citizen as an owner. Under the law, corporate ownership, Hko tho ownership of real estate, la open alike to all. But I know also, as docs every ev-ery observer of cvonts, that In tho face of existing conditions, this vast portion of our country property already more than one-fourth in value, and probably one-half in its Influence noon tho citizen ship of tho country, is, as an opportunity to proprietorship, a field closed to thoso not educated in the intricacies of corporate cor-porate organization and management "Tho paramount aim. In any solution of this great problem must be to fit this new form of American ownership to tho Industrial llfo of a republic. A Government Govern-ment by tho people cannot long c.nduro whose property laws, either purposely or incidentally, crcato a distinctive property-holding class. I hope to seo the day when this now form of American property will Invito and worthily Invito tho participation of all; whon corporate ownership will bo" dlvorslflod as widely among tho peoplo at largo and with as much safety to them as other forms .of property. "Tho first Btcp to thla end, and tho great step, Is to nationalize tho corpora-lion. corpora-lion. Five and forty masters now ordain or-dain its policies; it Bhould be governed by one master and one policy. Tho cor-poratlon cor-poratlon Is no longer tho sole concern of tho State where Its books happen to bo kept, or 'Its direotora meet; It has be-como be-como tho concern of the wholo country, ever which Its enterprises reach. Tho day of the New Jersey policy has gone, tho day of the Now York policy has gone, the day of tho lowa policy has gone. Tho day has come for an American Ameri-can corporate policy. "I speak for tho nationalization of corporations cor-porations tonight, not as the oncmy, but as tho friend of property; not as tho enemy, but as tho friend of tho toller who seeks opportunity to turn some portion por-tion of his earnings into property; not at tho cnomy, but as tho friend of thoso who. In honest corporate enterprise, push forward tho Increasing progress of roan kind." |