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“The existence of the corporation, as we have it with us today, was never dreamed of by the fathers . . .The corporation of today has invaded every department of business, and it’s powerful but invisible hand is felt in almost all activities of life . . . The effect of this change upon the American people is radical and rapid.

The individual is fast disappearing as a business factor and in his stead is this new device, the modern corporation . . . The influence of this change upon character cannot be overestimated. The businessman at one time gave his individuality, stamped his mental and moral characteristics upon the business he conducted . . .

Today the business once transacted by individuals in every community is in the control of corporations, and many of the men who once conducted an independent business are gathered into the organization, and all personal identity, and all individualities lost.”