Excerpt from Illinois Law Review, 1916-1917, Vol. 11
The period of unlimited destructive criticism with regard to corporations may be regarded as about ended. It is time for reconstruction.
The public policy of every state favors the creation of cor potations. Since this is so it is desirable from every point of view that they should be created and supported in such a way that they can transact their business efficiently. This is obvious. It should also be obvious that all penalties imposed upon corporations, for exceeding their powers or failing to comply with the necessary technicalities of the various laws which govern them, should be made to fall equitably - so that while accomplishing the end sought they do not jeopardize the progress of general business. But under the pressure of a vague adverse public opinion the decisions of our courts have introduced a confusion of ideas - due to the fact that in seeking to correct certain well established evils, sweeping penalties have been held to exist, which have fallen in ways highly unjust to the public as well as to the corporations themselves; unfair weapons have been put into the hands Of unscrupulous parties; the courts have been burdened with technical questions in an increasing degree; and the resulting economic waste is enor mous.
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