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" "I am a strong individualist by personal habit, inheritance, and conviction; but it is a mere matter of common sense to recognize that the State, the community, the citizens acting together, can do a number of things better than if they were left to individual action.
Theodore Roosevelt, Jr. (27 October 1858 – 6 January 1919), also known as T.R. or Teddy, was an American statesman, author, explorer, soldier, naturalist, and reformer who served as the 26th president of the United States from 1901 to 1909. As a leader of the Republican Party during this time, he became a driving force for the Progressive Era in the United States in the early 20th century.
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It is no limitation upon property rights or freedom of contract to 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.
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Facing the immense complexity of modern social and industrial conditions, there is need to use freely and unhesitatingly the collective power of all of us; and yet no exercise of collective power will ever avail if the average individual does not keep his or her sense of personal duty, initiative, and responsibility. There is need to develop all the virtues that have the state for their sphere of action; but these virtues are as dust in a windy street unless back of them lie the strong and tender virtues of a family life based on the love of the one man for the one woman and on their joyous and fearless acceptance of their common obligation to the children that are theirs. There must be the keenest sense of duty, and with it must go the joy of living; there must be shame at the thought of shirking the hard work of the world, and at the same time delight in the many-sided beauty of life.