Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-04-16
Wall Street and the President.

In the course Of The Stars staff CORE
spondent's dispatch from New York printed
yesterday regarding the sentiment of Wall
street toward the administration in it's
antitrust policy occurred the following
paragraph:
wall street argues the case after this
fashion,: The antitrust law has been on
the statute books for many years; there
had been numerous combinations. whose
principle was the same as in the Northern
Securities case, although the amount in
volved was not so large. yet the law had
never been invoked. Wall streets conclu-
sion, therefore is that President Roosevelt
has taken it upon himself to make this a
personal ISSUE"
In this connection runs a bit of interest
ing history. In 1895 Theodore Roosevelt
signed as civil service commissioner TO &C
cept appointment as commissioner of police
in New York city. He found on the munich
pal and state statute books series Of gen.
orally disregarded laws, including those
prohibiting the sale of liquor after GER
tain hour of the night and on Sunday. He
proceeded to enforce those laws, greatly to
the chagrin of the saloon keepers and
others who had been fattening off practices
In violation Of the statutes. When a howl
of indignation arose from those who want
ed to drink liquor after hours and on Sun
day Commissioner Roosevelt replied that
he could not interpret this clamor as public
sentiment, and in any event he could not
construe it as a formal repeal of the
statutes 1t was argued that the laws had
remained unenforced for SO long that they
had been virtually repealed. Mr.. Roose-
welt answered that public complaisance did
not constitute a valid or safe repeal of
statutes. and that good government and
public safety required formal removal of
the laws from the books. He thereupon
established his governing doctrine the
principle that a law is law until it is re-
pealed, and that the best way to bring
about the repeal of bad law or an un-
popular law is to enforce 1t. Consequently
he proceeded with his excise prosecutions
and he enforced the laws. as far as circum-
stances would permit with police force
by no means free from the corrupt influ-
ences of years of Tammany rule.
1t was with this record clearly written
and reinforced by his actions as governor
of the state that Mr.. Roosevelt was nomi-
mated for the vice presidency in 1900. OF
course. the powers which permitted or die
tated his nomination to this secondary office
hau no expectation that he would succeed
to the first place. They thought that they
were sidetracking man Of presidential
proportions. They named him with their
eyes open to his characteristics, including
this particular habit of considering a law
as a command to the executive They took
their chances.
President Mckinley's death made Mr..
Roosevelt President. He found the anti
trust law on the statute books and he pro-
ceeded to apply it to the first new condition
arising which 1t seemed to fit. He did this
not only in obedience to his own impulses,
but in response to an unmistakable public
demand. The court before which the case
was laid has decided that the law does fit,
and that the operation complained of by
the government is unlawful. There would
seem to be no ground for complaint against
the President for springing surprises on the
industrial capitalistic world He has
been true to his record, and that record
was before all classes Of men when he was
chosen for the possible presidential success
sion