Bisbee daily review., 1903-06-16
FIXING THE BLAME.

The address delivered by James B. Dill. the eminent New York trust at- toraey. before the graduating class of the University of Minnesota. has at tracted the widest attention of any similar effort for years. The position oi Mr Dill. at the very head of com bInatiOn-bui,Ging attorneys. the recol- lection of some of the enormous fees which have been paid him, and his statement that the movement toward combination and consolidation which is now in progress has enlarged the opportunities of the college-brei young man. all serve to give added in terest to his declaration that the ten c, ncy toward combination 'has been carried, in some instances. beyond its legitimate purpose, and that there has taken possession of some a combina- ton fever. a greed for unearnei wealth, which amounts almost to a ma nia. Many combinations have been organized nominally upon economic grounds for mutual saving and the stepping of competitor. but really have accomplished little more than the un- leading of blocks of indigestible se- cLrities upon a decisive public. n other words. the combinations were made to sell securities. so-called ra-ha- ,baD -ba p,a,rfac.T,-a ,,odrr- turned out by the mills and factories"
 The Wall Street Journal. comment ing upon this declaration, stands up and tells the truth about the presi- dent and Wall street i1 manner which will please the country by i.s frankness, however il may be taken ia Wal street circles:
 Here. in these few words. spoken. uut by the enemy of corporations. but by believer and servant of them. we have a stotement that satisfactorily explains the present condition or the Wall street market Not so much any failure or reaction in trade. not so much any fear of severe money strin- gency, not so much any alarm over the threatening aspects of the labor pro0- lem, not so much any uncertainty as to the yield of the crops. not so much any uneasiness in regard to the presi- dential campaign which is opening so early, but far more. the insyitable penalties which follow a deviation from sound economic principles in the organization and promotion of new en- terprises, account for the liquidation and depression in Wall street. We arc simply paying the pena!ty-that's s all. In our distress we are blaming other for the conditions for which we alone are to blame. Most of us. for instance, are blaming Roosevelt We complain that he, by his action in the anthracite strike, has excited and in- famed the trade unions to exorbitant demands and unreasonable hopes. Others blame him for his action in the Northern Securities case. claiming that he has overturned the fabric of bus. ness and prevented the consumm ation Of the well thought out plans for the regulation of competition, so necessary for the stability of trade. Then there gre others of us who are blaming the wCather-too much rain in the west none at all i;i the east
 But why not blame ourselves foi having carried to excess. by an inor dinate greed for what AIr Dill de scribes as "unearned wealth" the wiss principle of combination, and created corporations and fioated securities l.y methods that violate sound economic laws? Let us be hones-, and adn,i: that Mir. Roosevelt did his duty. and that as regards the country. the situ stion has been greatly distorted by the spectacies of pessimism, and that the place where the real trouble is. and where the pain ought to be. is right here in Wall street