The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-08-12
DAY FOR LE1NIENCY is
OVER, PRESIDENT SAYS
Asks Power for Executive to Curb Great Corpora
tons Scores violators Of Law-Favors
Government Supervision.
NV Asso clntsd prcss.)

tHCHAUrAuQUAtsN ~, L. AuBust IL iic
Presidents audience was one Of the lar.
gest ever seen here His speech dealt
with the foreign and domestic policies Of
the tinted states. lie said II, part:
IT IA out OF the question to clatn,
n rleht and yet shlrk the RESPONSE
billy Tor exercising that right. When
wa announce O policy such MS the
Monroe Doctrine, we thereby commit
ourselves to accepting the 'conse-
quences OF the policy, and these con-
sequences from time to time alter.
4, 1--WE can not permanently adhere 70
the Monroe Doctrine unless we sue.
ceed In making II evident In tho first
place That we do not intend to treat
It In any shape or way as an excuse
for ACKNOWLEDGMENT on our part at
Y the expense OF the republics 10 the
south OF us: second, that we do not
Intend to permit It to be used BY
any OF these republics as a shield to
protect that republic from the conse-
u,enccs OF it's own mlsdeeds against
foreign nations: third, that, innsmuch
as by this doctrine we prevent other
Il nations from interfering on this side
Z OF the water, we shall ourselves In
good faithEtry to help those OF our
sister republics which need such help
up"dTu PSslSS ehHu - 80
Nothing to Fear.
GAS regards the first point we must
recognize the fact that In some South
American countries there has been
much suspicion lest we should inter-
pret the Monroe Doctrine III Some
way lnimical to their interests. Now,
let II be understood once for all that
no Just and orderly government on
this continent has anything to fear
from US. tEnlust be understood that
under no circumstances will the United
4 states use the Monroe Doctrine as
/ a cloak for territorial aggression.
Should any Of our neighbors, no mat-#
4 ter how turbulent, how dtsregardfull
Of our rights. finally get into such
position that the utmost limits OF
our forehearance are reached, all the 2
people south OF us may rest assured
that no action will ever be taken save
what Is absolutely demanded by our
self-respect; that this action will not
take the formaof territorial aggran-.
dlzement on our part, and that IT Will 1
only be taken at all With the most
extreme reluctance and not without
having exhausted every effort to avert 4
+ It, Ts II 5}.a ii
.,As to the second point, II a repub-
lie to the south Of us commits tori
against a foreign nation. such, for
+ instance IS as wrongful action against
the persons OF citizens OF that nation,
then the Monroe Doctrine does not
force us to interfere to prevent pun-
ishment OF. the tort, save to see that
the punishment does not directly or
indirectly assume the form Of terri
toral occupa ton OF the offending
country The case Is more difficult
when the trouble comes from the fall
ure 10 meet contractual obligations.
Our own government has always re-
fused to enforce such contractual
obligations on behalf Of Its citizens
by tho appeal to arms. Se 1t Is much
tGto be wished athat all foreign govern
3ments would take the sa me view. Bul
Sat present this country would GER
4 tainly not be willing toNgo.to war#to
4 prevent foreign government from
collecting a,Ftust debt orssto back up
some one OF our sister republics In a
I. refusal to pay Just debts: and the
alternative may in any, case prove to-
be that we shall ourselves undertake
q u bring about some arrangement b,
which SO much as Is possible Of TIA
+ 3ust obligations shall be paid. Per-
& .onally I should always prefer to see
rhis country step In and put through
+ ,,uch an arrangement rather than let
any foreign country undertake It.
United States Must Act.
IT do not want to see any foreign
power talks possession permanently or
TEN porarlly of the custom houses OF
an American republic in order to en-
force It's obligations. and the alterna-
( tive may at any time be that we shall
<oS - inN ca Fnltraalvna D
"Finally, and what is In my view
really the most important thing OF all.
4 1t Is our duty, SO far as we are able,
to try to help upward our weaker
brothers.
I'm the Interest OF Justice. 1t IS as
necessary to exercise the police power
as to show charity and helpful gem
crosby. But something can even now
be done toward the end in view.
'sahto Domingo has now made an
appeal to US to help In turn. and
not only every principle OF wisdom.
but every generous instinct within un
( bids us respond to the appeal.
"Under the course taken, stability
and order and all the benefits Of
neace are at last coming TO Santo
domingo. all danger OF toraign Inter-
yentIon has ceased. and there is at
last a prospect that all creditors Will
get Justice, no moro and no less. II
the arrangement Is Terminated chaos
will follow; and II chaos follows.
sooner or later this government may
be involved In serious difficulties with
8 foreign governments over the island.
or else may be forced itself to inter
! vene in tbs island In some unpleasant
fashion.
Domestic Policy,
80 much for one feature OF our
foreign policy. Now for one feature
OF our domestic policy. One Of the
main features OF our national gov
ernmental policy should be the effort
to secure adequate and effective SUI
pervlsory and regulatory control over
ali great corporations doing an inter-
state business. Much OF the lsg!sla-
ton aimed to prevent the evils con-.
nected with the enormous development
of these great corporations has besn
Ineffective, partly because 1t aimed at
doing TOO much. and partly because
It did not confer on the government
a really efficient method OF holding
any guilty corporation to account.
The effort to prevent all restraint
OF competition, whether harmful or
beneficial, has been ill-judged; what 10
needed 10 not so much the effort to
prevent combination as vlgllant and
efYeotlye control Of the comblnat lions