The Corporation And The Mob.”
August 10, 1907
Summary
The Wall Street Journal calls for all corporations to fight together to prevent the mob from destroying industries.
Transcription
“The Corporation And The Mob.”
Our declaration that the corporations of the country had shifted positions with the Negroes and are now practically in the same position that they have occupied during all of these years seems to be borne out not only by facts but by the New York Wall Street Journal, in its issue of the 7th inst. Under the caption of “The Corporation and the Mob,” it says:
The Wall Street Journal feels that it has fairly earned the right to defend the investors of the United States against the mob spirit now seeking to lynch the corporations. It has earned this right because it has steadfastly during the past five years defended the investors against the anarchistic spirit within the corporations: because it has persistently advocated publicity and enforcement of law, and denounced unfair competition of politics, graft, speculative manipulation, dual transactions, deceptive bookkeeping, use of trust funds for “high finance” schemes, the rebate, the secret rate, the pass, and all manner of special privilege by which one competitor obtained advantage of another to the public injury.
These things were as much destructive of investment interests as any socialistic programme. It has supported President Roosevelt in his campaign for the establishment of publicity and the regulation of the corporations. It has at times criticized the acts of great financiers and powerful corporation for putting obstacles in the way of the advancement of such a degree of public control as would keep despotic monopoly in check, and financial concentration from becoming so big as of threaten the very independence of the Government. It has done this in the face of much misconceptions of its motives and purposes.
This would seem to give this great financial organ the requisite liberty to speak without bias and to act without prejudice. It says further:
But its independence during these years enables it now with all the more power to take a stand against the mob violence which is striking at property rights. It has never been “a court circular” of the “divine right” of capital to do as it pleases. It has criticized the corporations for many of their wrongs” it can now defend the corporations against wrong. It has defended the people against the injustice of the financial powers; it can now defend the financial powers against a public actuated by a spirit of revenge, and seeking in many cases confiscation.
It proposes to do so. A bad corporation is a stench in the nostrils of the people. It is necessary to quarantine it. Government regulation is simply establishing health board ordinances and limits.
The above is masterly statement of its position and of its right to speak on this occasion. The Wall St. Journal has supported Pres. Roosevelt and his policies through evil report as well as through good, but we have noted of late that it has “that tired feeling” caused by strenuous efforts to have to keep up with the cavalcade led by the rough-riding Roosevelt.
But the concluding remarks of this journal are pathetic and seem to justify Bishop Alexander Walters and his corps of supporters in checking the reign of lawlessness in the southern section of the country. This distinguished churchman has organized to check and prevent lynching of colored people.
The Wall Street Journal calls for the organization of a vigilance committee to prevent the lynching of corporations. Here is what it says:
But mob violence is a conflagration. It calls for the fire reserves and the police. More than that, it may require the formation of vigilance committees of investors for the maintenance of order and justice. An eminent banker this week suggested in a private interview that it might be necessary to form a committee to represent investing interests. The idea is a good one. Let us have such a committee, but to be effective it must not be one-sided . It must strike alike at wrong by corporations. This is the time to organize the investors of the country in defense of the rights of private property and individual liberty, in advocacy of publicity and the strict accountability of trustees, and against the mob that is crying, “Lynch!” “Lynch.”
When rich white men are forced to run to cover with the poor Negro, then truly has the day of retribution come to hand and a full realization of the saying manifesto: “The mills of the gods grind slowly but exceedingly fine.”
Whether it be exercised against the rich white man or the poor white one: whether exercised against the rich colored man or the poor colored one, lynch-law must go!
Our declaration that the corporations of the country had shifted positions with the Negroes and are now practically in the same position that they have occupied during all of these years seems to be borne out not only by facts but by the New York Wall Street Journal, in its issue of the 7th inst. Under the caption of “The Corporation and the Mob,” it says:
The Wall Street Journal feels that it has fairly earned the right to defend the investors of the United States against the mob spirit now seeking to lynch the corporations. It has earned this right because it has steadfastly during the past five years defended the investors against the anarchistic spirit within the corporations: because it has persistently advocated publicity and enforcement of law, and denounced unfair competition of politics, graft, speculative manipulation, dual transactions, deceptive bookkeeping, use of trust funds for “high finance” schemes, the rebate, the secret rate, the pass, and all manner of special privilege by which one competitor obtained advantage of another to the public injury.
These things were as much destructive of investment interests as any socialistic programme. It has supported President Roosevelt in his campaign for the establishment of publicity and the regulation of the corporations. It has at times criticized the acts of great financiers and powerful corporation for putting obstacles in the way of the advancement of such a degree of public control as would keep despotic monopoly in check, and financial concentration from becoming so big as of threaten the very independence of the Government. It has done this in the face of much misconceptions of its motives and purposes.
This would seem to give this great financial organ the requisite liberty to speak without bias and to act without prejudice. It says further:
But its independence during these years enables it now with all the more power to take a stand against the mob violence which is striking at property rights. It has never been “a court circular” of the “divine right” of capital to do as it pleases. It has criticized the corporations for many of their wrongs” it can now defend the corporations against wrong. It has defended the people against the injustice of the financial powers; it can now defend the financial powers against a public actuated by a spirit of revenge, and seeking in many cases confiscation.
It proposes to do so. A bad corporation is a stench in the nostrils of the people. It is necessary to quarantine it. Government regulation is simply establishing health board ordinances and limits.
The above is masterly statement of its position and of its right to speak on this occasion. The Wall St. Journal has supported Pres. Roosevelt and his policies through evil report as well as through good, but we have noted of late that it has “that tired feeling” caused by strenuous efforts to have to keep up with the cavalcade led by the rough-riding Roosevelt.
But the concluding remarks of this journal are pathetic and seem to justify Bishop Alexander Walters and his corps of supporters in checking the reign of lawlessness in the southern section of the country. This distinguished churchman has organized to check and prevent lynching of colored people.
The Wall Street Journal calls for the organization of a vigilance committee to prevent the lynching of corporations. Here is what it says:
But mob violence is a conflagration. It calls for the fire reserves and the police. More than that, it may require the formation of vigilance committees of investors for the maintenance of order and justice. An eminent banker this week suggested in a private interview that it might be necessary to form a committee to represent investing interests. The idea is a good one. Let us have such a committee, but to be effective it must not be one-sided . It must strike alike at wrong by corporations. This is the time to organize the investors of the country in defense of the rights of private property and individual liberty, in advocacy of publicity and the strict accountability of trustees, and against the mob that is crying, “Lynch!” “Lynch.”
When rich white men are forced to run to cover with the poor Negro, then truly has the day of retribution come to hand and a full realization of the saying manifesto: “The mills of the gods grind slowly but exceedingly fine.”
Whether it be exercised against the rich white man or the poor white one: whether exercised against the rich colored man or the poor colored one, lynch-law must go!
About this article
Source
Location on Page
Lower Right Quadrant
Topic
Contributed By
Benton Camper
Citation
“The Corporation And The Mob.”,” Black Virginia: The Richmond Planet, 1894-1909, accessed February 19, 2026, https://blackvirginia.richmond.edu/items/show/871.