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Show WBUCilffiED; I Of ClPiiilflS Washington. Feb. fi.That great lu,-e lu,-e rotate industries can bo brought illicit illi-cit r a permanent lederal nupervlsion : through a system .f reports to a federal fed-eral agency ia a railnnal, effective way which will Involve no drastic action, ac-tion, but, on the contrary, will forestall fore-stall It, 1h the conclusion drawn In the annual report of Herbert Knox Smith, commissioner of corporal hum, tn the secretary of commerce and labor. The report wan mude today. "Publicity "Pub-licity wll Improve the standing of our corporate securities, loth at home and abroad," Mr.' . Smith declares, ' and will help to give our burnous machln ery that foundation of fairness and e penness and public confidence which it must have If If Is to bo a permanent factor In our national advance. j "1 will bring togother the government govern-ment and the corporate manager In conference and co-operation, while one tnn serve to adjust continuously the complex and changing relationship between be-tween our business lorces and the: public welfare." .Mr. Smith contends that already, under public condemnation, made possible pos-sible by farts plainly stated, gre.it corporate abuses have been auxil-' auxil-' tied. He says that a gigantic system sys-tem of rallroud rate discrimination has been wiped away and numerous l rma of commercial oppression dlmln lshod. Corporate managers themselves, them-selves, rays Mr. Smith, arc frank'y advocating a mjro open accounting. |