Abstract

Editorials

The article discusses several issues related to finance. The scandal which statesman Robert C. Schenek has caused by appearing in London, England as a director of a concern known as Emma Silver Mining Co., whatever be the result as regards himself personally, will certainly help to fix the public mind more strongly than ever on the corrupting influence, both on politics and society, of the system of incorporations for industrial and other purposes; and one doubt very much whether it will not help to give currency to the views of those who believe that the time has come when one may safely give up altogether the practice of allowing persons to form joint-stock companies, with small shares, for the construction and working of mines, railroads, and other similar enterprises. The one question, which must come before the next Congress, and before every Congress till it is finally settled, whatever else be neglected or postponed, is the manner of raising the revenue. Nobody is satisfied with the present method, and no method will ever be a finality, which the country will accept, which creates, as the present method does, a privileged class.