Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1902-09-12
THE TRUSTS ALARMED
ROOSEvELT'S NEW ENGLAND
SPEECHES THE CAUSE.

SPEECHES THE CAUSE.
Wall Street Displeased-Boss Platt, Their
Spokesman. Says That New York Republicans
Will Not Endorse Teddy for denomination
That il is Frausht With Danger to Put a
Potential Possibility " On the Shelf" is Now
Realized by the Trust Masnates.
In spite Of the great effort made to
induce the New York Republicans, at
their coming State Convention, to en-.
dorse President Roosevelt for renomi.
nation, Senator Platt fatty states that
no such Endorsement will be forthcom-
ing, and he is in a position to know.
His statement has created q profound
sensation. Everywhere in the East
his declaration is taken to mean that
the trusts propose to punish the Presi.
dent, and this is the opening gun Of
the fight on him. The Presidents
speeches in New England have forced
the fighting, and from now on it is to
be war, if the President continues his
crusade.
Senator Platt also makes the inter
esting statement that the platform of
the party to be adopted in the State
convention will not 60 as far in con-
demnatiOn OF the trusts az the Presi-
dent has gone, nor propose the radi-
cal remedies he has suggested. Sena-
tor Platt's statement is a warning to
the President that Wall street does
not relish his speeches. and an intima-
ton that he should be more conserva.
tive if he wants to retain the backing
OF the party in that State. It will
be interesting to note what effect this
warning will have upon Roorevelt.
1t may be said to be a bold and
audacious act to undertake to discip-
line President, but that is the way
Senator Platt's announcement is taken.
In plain language, he has served ward.
ing, in behalf of the great financial
interests which control politics in
New York State, that the President
must desist from his attacks on the
trusts.
Nowhere in the world is there moro
concern over the course OF President
Roosevelt toward the trusts than in
Wall street. Industrial combinations
now represent the bulk Of the business
interests. The banks and capitalists
are concerned because they furnish
the money to float them. The rail.
roads are concerned because they carry
the products. and again because they
are contemplating vast schemes OF
combination and reorganization. Wall
street has followed the President
carefully since the action in the North
ern Securities case. He is not liked
by the men who are directing the
commerce of the nation from the
metropolis. They say they do not
know what minute he may alight
upon an effectual weapon and use it
against them.
The main hope for exemption from
botheration which Wall street now
entertains is that the Republicans
and Democrats will fall out about the
remedy for trust evils, and in the
dickering the trusts will remain, un-
disturbed. The fear is frequently ex-
pressed that il q Republican Congress
is elected this fall the scope OF the
Sherman act already on tho statute
books may be widened to harass the
trusts. How it can be done no one
has yet suggested, but Wall street be-
lieves that Western members Of Con.
gress who know the sentiment OF the
country realize that something must
be done. Action is looked for. there.
fore, if the Republicans remain in
power.
It can be truly said, however, that
it 10 tho trust magnates, and not the
President, who now show signs Of fear
and anxiety. 1t is even reported that
President Roosevelt has no fear of the
opposition Of the trusts in the next
campaign, but is rather confident he
will have their support, as he realizes
the trusts have less to fear from him
than from q Democrat. President
Roosevelt is not demanding abolition
of trusts, merely their regulation.