The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-04-04

After the banquet had been served Toast
master Wadhams introduced President
Roosevelt, who responded to the toast.
''The President OF the United States" The
President took this occasion to give his
views on the subject of trusts" He said
Mr.. Toastmaster and Gentlemen-To-day
wish to speak TO you on the question of
the control and regulation of those great
corporations which are popularity. although
rather vaguely, known as trusts; dealing
mostly with what has actually been ac-
complished In the way OF legislation and
in the way OF enforcement of legislation
during the past eighteen months, the period
covering the two sessions of the Fifty
seventh Congress. At the outset 1 shall
ask you to remember that 1 do not ap-
proach the subject either from the stand
point OF those who speak of themselves as
antitrust or anti-corporation people. nor
fond of denying the existence Of evils In
the trusts, or who apparently proceed upon
large enough II can do no wrong.
/ think speak for the great majority of
the American people when / say that we
are not in the least against wealth as such,
whether individual or corporate; that we
merely desire to see any abuse of corporate
or combined wealth corrected and rem
edied: that we do not desire the abolition
or destruction OF big corporations, but
on the contrary, recognize them as being
In many cases efficient economic instru-
ments. the results OF an inevitable process
see them regulated and controlled so far
as may be necessary to subserve the pub
lie good. We should be false to the historic
principles OF our government II We discrim-
mated. either by legislation or administra-
ton. either for or against man because
OF either his wealth or his poverty There
Is no proper place In our society either for
the rich man who uses the power conferred
by his riches to enable him TO oppress and
wrong his neighbors, nor yet for the dema-
gogic agitator who, instead of attacking
abuses as all abuses should be attacked
wherever found. attacks property. attacks
prosperity, attacks men of wealth. as such,
whether they be good or bad attacks cor
porations whether they do well or i'll and
seeks. In spirit of ignorant rancor. to
overthrow the very foundations upon which
rest our national well-being.
NEW GIANT PROBLEMS.
In consequences OF the extraordinary in
custrial changes OF the last half century,
and notably of the last two or three dec
ades, changes due mainly to the rapidity
and compiexity OF our Industrial growth.
we are confronted with problems which in
their present shape were unknown to our
forefathers- Our great prosperity, with its
accompanying concentration OF population
and OF wealth. its extreme specialization of
faculties, and its development of giant in
dustrial leaders. has brought much good
and some evil, and IL is as foolish TO ignore
the good as wilfully to blind ourselves
to the evil.
The evil has been partly the inevitable
accompaniment OF the social changes, and
where this Is the case 1t can be cured
neither by law nor by the administra ton
or the law. the only remedy lying In the
slow change of character and of economic
environment. But for a portion of the
evil, at least, We think that remedies can
be found We know well the danger of
false remedies. and we are against ali vio-
lent. ranical and unwise change But we
believe that by proceeding slowly vet reso-
luteiy, with good sense and moderation and
also with a firm determination not to be
swerved from our course either by foolish
clamor or by any base or sinister infiu
ence. we can accomplish much for the bef
terment of conditions
Nearly two years ago. speaking at the
State fair In Minnesota. L said: s'It Is nroh-
ably true that the large majority Of the
fortunes that now exist in this country
have been amasSed. not by iniIlrfner o1,r
people. but as an incident 10 the conferring
OF great benefits upon the community and
this. no matter what may have been tha
conscious purpose OF those amassino ,ha,o
There is but the scantiest justification for
wealth as such: and IL ought 10 be unneces-
sary TO state that any appeal which AZ
rectiy or indirectly leads 10 suspicion ana
hatred among ourselves. which tends 20
limit opportunity. and therefore to shuf the
door OF success against poor men OF talent
and, finally. which entails the possihilitv y
OF lawlessness and violence in an affack
upon the fundamental properties OF AmerI-
can citizenship. Our interests are al bot
tom common: In the long run we go up or
70 down together. Yet more and more N
ts evident that the State. and II necessary
the Nation. has got 10 possess the right OF
corporations which are it's creatures: par
ticuiayiy a. regards the great business COM
binatfons which derive portion OF their
amportancs from the existence OF some mo-