The fortunes amassed through corporate organization are now so large, and vest such power in those that wield them, as to make it a matter of necessity to give to the sovereign - that is, to the Government, which represents the people as a whole - some effective power of supervision over their corporate use. In order to insure a healthy social and industrial life, every big corporation should be held responsible by, and be accountable to, some sovereign strong enough to control its conduct.
The corporation that shrinks from the light" would have anything to fear from government. About the welfare of such corporations we need not be oversensitive.
One of the fundamental necessities in a representative government such as ours is to make certain that the men to whom the people delegate their power shall serve the people by whom they are elected, and not the special interests. I believe that every national officer, elected or appointed, should be forbidden to perform any service or receive any compensation, directly or indirectly, from interstate corporations; and a similar provision could not fail to be useful within the States.
Our government, National and State, must be freed from the sinister influence or control of special interests. Exactly as the special interests of cotton and slavery threatened our political integrity before the Civil War, so now the great special business interests too often control and corrupt the men and methods of government for their own profit. We must drive the special interests out of politics.
I believe in corporations. They are indispensable instruments of our modern civilization. But I believe they should be so regulated that they shall act for the interests of the community as a whole.
There can be no effective control of corporations while their political activity remains. To put an end to it will be neither a short nor an easy task, but it can be done ... Corporate expenditures for political purposes, and especially such expenditures by public-service corporations, have supplied one of the principal sources of corruption in our political affairs.
I hold it to be our duty to see that the wage-worker, the small producer, the ordinary consumer, shall get their fair share of business prosperity. But it either is or ought to be evident to everyone that business has to prosper before anybody can get any benefit from it.