require that when men receive from Government the privilege of doing
business under corporate form, which frees them from individual
responsibility, and enables them to call into 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 safeguarded by our institutions; and it is
therefore our right and our duty to see that they work in harmony with
these institutions.

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 governmental regulation, or taxation,
can only be determined 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
full and accurate information as to their operations should be made
public regularly at reasonable intervals.