The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-29
THE PRESIDENTS SPEECHES.


New York Letter in Philadelphia Press.
Probably before the President begins his
journey to the West and to the Southwest
the lower courts will have decided that
feature of the trust question which is in
volved in the Northern Securities litigation.
If that decision leaves those free to finish
the work contemplated who constructed
the Northern Securities organization. then
another proposition is presented to the
American people. The capitalists of Wall
street now understand that President
Roosevelt is neither for nor against their
Northern Securities proposition nor any Of
the other gigantic merger propositions that
are now under way. But when his attorney
general informed him that in his view this
Northern Securities plan was in violation
of the federal statute the President felt
that there ought TO be final determination
of that by the courts and the capitalists of
Wall street now understand that this and
nothing else is his position.
Probably before the President returns to
the White House there will be throughout
the country an understanding similar to
that which prevails now among the more
prominent capitalists and fnancierS of the
view which the President takes of some of
these great economic questions. He is
understood to be satisfied that the prac-
teal humiliation of time and space, so
that there is instantaneous communication
of intelligence and very swift transporta-
ton, has made inevitable certain changes
which are now in progress. Some of these,
in obedience TO what seems to be sound
lions of interests where there was hereto
fore excessive competition. So far as these
changes are developed in obedience to sound
economic laws, the President is of the Opin-
ion that this should be encourag ed or at
least should be left to work out without
legislative or political interference their
own perfection.
He recognizes, too, that some of the
great public charters that have been be-
slowed by States or by the federal Congress
and out of which enormous development
and concentration of capital have been
made possible, nevertheless, have, on the
whole, operated for the general welfare
and prosperity OF the whole country. There
fore, he deems il very delicate and diff
hcult thing, not so much to decide what the
rights of the community a political or
ganizaticn and the individual members of
the community are, as how best those
rights can be maintained and protected
without at the same time demoralizing com
mercial activity or causing an unreason-
able shock TO capital. His own view is I'M
derstood to be that the intelligence and
good sense of the American people, working
out through political and legislative means,
viii ultimately find the healthful medium
by which the rights of the community and
of individuals may be maintained while
capital is free. in reasonable manner and
by just methods, to work out its own rela-
ton TO the new influences of this new era.
The President will be able to speak of the
situation in the Philippines and our outly-
ing possessions as of things accomplished
instead of to be accomplished as he would
have been obliged to speak of them last
fall or last winter. He has been intensely
| interested in the reports that have come
| from all parts of the country of agrcul-
| tural and industrial activity and prosperity
and upon these features of American life
! at present he may touch at some length in
such addresses as he delivers in the West
| and in the Southwest.
! If experience has served TO broaden his
| vision and to enable him to make quicker
/ and more accurate judgment than he could
| have done year ago in another way eXpe-
/ rience has served him. For the mere prac-
! tice OF public speaking, and especially pub
! lie speaking where every word is weighed.
] has given 10 the President not only a facil-
/ ity, but a. felicity of expression which ear
lier In his political life he despaired of ever
/ attaining